Released November 19, 2019 | SUGAR LAND
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News highlights gathered by Industrial Info and IIR Energy (Sugar Land, Texas) dealing with the energy markets.
CORPORATE
Gulfport Energy to Cut Jobs, Halt Shares Buyback - U.S. gas exploration and production company Gulfport Energy Corporation (NASDAQ:GPOR) on Monday confirmed that it would cut jobs, change its board and end its share buybacks, in a bid to reverse a slide in its stock price. Gulfport shares have lost about 67% of their market value in the last 12 months, as weak natural gas prices have eroded its profitability and forced it to slash capital investment. (Reuters)
CRUDE OIL
Oil Prices Fall on Trade Talks Uncertainty - Oil prices fell more than 1% on Monday, erasing much of last week's gains, on uncertainty over a trade deal between the United States and China. Brent crude futures settled at $62.44 a barrel, down 86 cents, or 1.4%. West Texas Intermediate (WTI) crude ended 67 cents, or 1.2%, lower at $57.05 a barrel. (Reuters)
Saudi Crude Exports Fall in September - Saudi Arabia's crude oil exports in September fell by 3% to 6.67 million barrels per day (BBL/d) from 6.88 million BBL/d in August, official data showed on Monday. Drone and missile attacks on September 14 on two plants at the heart of Saudi Arabia's oil industry temporarily knocked out more than half the Kingdom's output. (Reuters)
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About IIR Energy
Energy asset information on power plants, oil refineries and natural gas infrastructure is now more important than ever. A unit of Industrial Info Resources, IIR Energy provides infrastructure information on these assets, as well as real-time tracking of planned and unplanned interruptions affecting the trading, logistics and marketing communities. We are the number one source for information about electricity outages, refinery turnarounds and midstream natural gas disruptions.
About Industrial Info
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com.
CORPORATE
Gulfport Energy to Cut Jobs, Halt Shares Buyback - U.S. gas exploration and production company Gulfport Energy Corporation (NASDAQ:GPOR) on Monday confirmed that it would cut jobs, change its board and end its share buybacks, in a bid to reverse a slide in its stock price. Gulfport shares have lost about 67% of their market value in the last 12 months, as weak natural gas prices have eroded its profitability and forced it to slash capital investment. (Reuters)
CRUDE OIL
Oil Prices Fall on Trade Talks Uncertainty - Oil prices fell more than 1% on Monday, erasing much of last week's gains, on uncertainty over a trade deal between the United States and China. Brent crude futures settled at $62.44 a barrel, down 86 cents, or 1.4%. West Texas Intermediate (WTI) crude ended 67 cents, or 1.2%, lower at $57.05 a barrel. (Reuters)
Saudi Crude Exports Fall in September - Saudi Arabia's crude oil exports in September fell by 3% to 6.67 million barrels per day (BBL/d) from 6.88 million BBL/d in August, official data showed on Monday. Drone and missile attacks on September 14 on two plants at the heart of Saudi Arabia's oil industry temporarily knocked out more than half the Kingdom's output. (Reuters)
About IIR Energy
Energy asset information on power plants, oil refineries and natural gas infrastructure is now more important than ever. A unit of Industrial Info Resources, IIR Energy provides infrastructure information on these assets, as well as real-time tracking of planned and unplanned interruptions affecting the trading, logistics and marketing communities. We are the number one source for information about electricity outages, refinery turnarounds and midstream natural gas disruptions.
About Industrial Info
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com.
