Top energy headlines, a recap

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Top 3 misconceptions in the media about oil prices

The price of oil has hit a six-year low and declined more than 50 percent from its most recent high back in July. Before the downward spiral, the industry was doing so well that the US was drilling at record highs, producing more barrels per day than ever with new rigs sprouting up in shale plays like weeds. Although this was significant for the crude oil industry, it seems the media just was not that interested in the storylines that followed. Flash forward to today, you can’t go online or to a news channel without someone talking about the oil industry in some fashion. Whether it’s about another drop in the price, outrageous analyst predictions or massive layoffs, it’s like the media has blown it all out of proportion. Read more…

Schlumberger cuts 11,000 more jobs; bringing total to 20,000 for the year

Houston-based Schlumberger (NYSE: SLB) announced today a second round of layoffs. The oil service giant plans to lay off 11,000 workers globally. The company didn’t specify how many jobs in Houston were affected.

The layoff will bring the total to 20,000 employees, about 15 percent of its workforce. The first round happened in January when the company announced it was laying off 9,000 employees. Read more…


ConocoPhillips to sell US assets

Houston-based ConocoPhillips (NYSE: COP.N) announced today they are preparing to sell more assets and this time it will be in the US according to Reuters. The company hired Wells Fargo & Co. (NYSE: WFC) to sell its gas producing and noncore oil land in Texas, Louisiana, and Colorado. Read more…

Outside Sales in a Tough Market: How to Reap the Benefits at a Fraction of the Cost

For those companies whose bottom line depends heavily on product and service sales to the oil and gas sector, part of the weathering a tough market means finding new ways to preserve the revenue stream generated by outside sales, while managing the sometimes hefty costs associated with it. Read more…


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