Halliburton, U.S. Shale Mergers: Your Daily Energy News

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News highlights gathered by Industrial Info and IIR Energy (Sugar Land, Texas) dealing with the energy markets.

CRUDE OIL
Oil Up on U.S. Stimulus Hopes - Oil gained more than 1% on Tuesday on the prospect the United States was nearing a deal on coronavirus relief, but the threat to demand from rising COVID-19 cases worldwide and increased Libyan output kept prices from moving higher. November U.S. West Texas Intermediate (WTI) crude futures settled at $41.46 a barrel, up 63 cents, or 1.54%. The more active December contract settled at $41.70, gaining 64 cents. Brent crude futures for December delivery settled at $43.16 a barrel, rising 54 cents, or 1.27%. (Reuters)

FINANCIAL
U.S. Shale Mergers Accelerate - Consolidation in the U.S. shale industry is accelerating, ratcheting up pressure on oil and gas producers to gobble up smaller rivals, analysts and executives told Reuters. Among those in play, Pioneer Natural Resources (NYSE:PXD), one of the largest independent shale operators, is considering a low-premium buyout of Parsley Energy Incorporated (NYSE:PE), according to sources. (Reuters)

EARNINGS REPORTS
Halliburton Reports Quarterly Loss - Oilfield services firm Halliburton (NYSE:HAL) reported a net loss of $17 million for third-quarter 2020, compared with a second-quarter 2020 net loss of $1.7 billion. (Halliburton)

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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.