|Day Low/High||61.63 / 62.80|
|52 Wk Low/High||50.12 / 84.88|
Majors like Royal Dutch Shell and independents like EOG Resources are buying up prospective Texas acreage.
Jim Cramer ponders how oil and math don't mix, and the fate of Wells Fargo's Stumpf.
The supposed OPEC deal is just a desperate action to stop oil prices from collapsing again.
A turnaround may be in the sights for the industry but many companies could still look toward divestitures to strengthen their finances and put money in the bank for acquisitions.
Encana's secondary offering should be used to expand its oil operations, Cramer said.
The Houston oilfield service provider reported Friday a much more moderate gain in U.S. oil rigs than the industry has recently seen and said natural gas rigs were down again.
These names show the downward pull can be beaten with the right set of circumstances, and it happens more often than you might think.
The oil and gas producer will buy the family-owned operator in a deal worth $2.45 billion, a bargain price considering the attractive West Texas assets included in the package.
There are too many companies in just about every sector of this market, Cramer says.
Energen, Gulfport Energy, Laredo Petroleum, Newfield Exploration, PDC Energy and SM Energy top Williams Capital Group's takeout list.
The investments follow a flurry of deals in the region, including DiamondBack Energy Inc.'s purchase of properties in the Delaware Basin from Natural Gas Partners-backed Luxe Energy for $560 million.
Earlier this year, dozens of cash-squeezed oil producers announced billions of dollars of planned asset sales. Problem is, nobody was interested. Now, seemingly everyone is.
Barclays hiked its price target on PDC Energy (PDCE) stock following its entry into the Delaware basin.