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Spate of layoffs sweeps energy industry

Spate of layoffs sweeps energy industry

A sustained downturn led to thousands of layoffs this week as companies struggle to weather the prolonged energy market slump. Falling oil prices forced many producers to cut costs and streamline business. The International Energy Agency said oil prices may fall further this year due to low demand and an oversupply of crude. Schlumberger Schlumberger cut 10,000 jobs and reported ...

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5 oilfield jobs still in demand in 2016

Extended periods of plummeting oil prices have had a noticeable effect on the oil industry, with many oil companies decommissioning multiple rigs during 2015. While the oil industry is no longer being referred to as “booming” by most media outlets, it is not going away completely, and many oilfield jobs are still in demand. As current workers retire and leave ...

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Natural gas prices expected to rise

natural gas flame

Natural gas prices are expected to rise in the coming months as a national supply glut is drawn down, according to the US Energy Information Administration. Although prices have been low during the first few months of this year’s winter, lower production volumes and cooler weather are anticipated to bring them up slightly in 2016. Record Production As of January ...

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Goodrich Petroleum among recent energy companies delisted from New York Stock Exchange

Trading Floor at the New York Stock Exchange. (Image: Scott Beale / Laughingsquid.com via Flickr)

Goodrich Petroleum Corp., a Houston-based oil and gas producer, is the latest victim of low oil prices. The price of WTI slipped below $30 yesterday, and an impending rebound doesn’t seem likely. The company noted in a press release Goodrich it was removed from the New York Stock Exchange for “abnormally low price levels,” closing at only 16 cents on ...

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Failing fast, failing cheap innovation philosophy electrifies Windcreek Services

If you’ve never heard the phrase “fail fast, fail cheap,” then you’re working with the wrong company. According to Cody Williamson, the Sales and Marketing Director of Windcreek, “That truly is key. You scratch together the stuff that’s in the yard to see if that will actually work. It works on paper, now put it into practice. It’s important to ...

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Aerial footage shows California gas leak (VIDEO)

California natural gas leak

Methane gas continues to leak from a California storage facility at a rate of 110,000 pounds per hour. Aerial footage using a specialized infrared camera shows the extent of the leak. The video was taken Dec. 17 and released by the Environmental Defense Fund. The leak emits methane at a rate of about 50,000 kilograms per hour, about one-quarter of ...

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Long-awaited repeal of export ban signed into law

Obama signs tax, spending bill; oil export ban repealed

President Barack Obama signed into law a $1.1 trillion government funding bill Friday afternoon, dodging a government shutdown and ending a 40-year-old crude oil export ban. U.S producers will now be able to sell crude to the international market. Republicans made lifting the export ban a top priority. They argued the ban was a relic of the Arab oil embargo ...

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Matrix Service Company completes gas compressor, storage facility

Ryckman Creek gas compressor and storage facility

Matrix Service Company announced Tuesday that its subsidiary, Matrix Service Inc., reached substantial completion on the rebuild of the Ryckman Creek Resources, LLC gas compressor and storage facility in Wyoming’s Green River Basin. Matrix Service was originally contracted in August 2014 to provide mechanical and construction services to rebuild the Nitrogen Rejection Unit. An explosion and fire destroyed the original ...

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