#OilmanNEWS 2016 January-February 

Oklahoma-based Devon Energy Announces Plans for Layoffs Amid Energy Downturn

Devon Energy announced plans to layoff workers in the coming months. The company’s CEO Dave Hager made the announcement during an employee town hall meeting at the Cox Convention Center in Oklahoma City on Jan. 20. The announcement comes as oil prices continue to tumble across the nation, leaving many oil companies in a precarious situation. “To maintain our financial… Read More
2016 January-February OILMAN Publisher 

Hurry up n’ wait

Letter from the Publisher The price of oil has been like a bad business partner who’s been on vacation all year. At 10 year lows a lot of people are worried and hopeful we’ve seen the bottom. I’ve literally listened to 100 financial experts explain where the price is going and when. Regardless of which opinion you listen to there’s… Read More
2016 January-February Features 

Forecasting the Price of Oil

Oil is a closely watched commodity, and when its price moves, whole industries and whole economies can be shaped and defined. With the price of oil’s decline in December 2015 to below $35 per barrel for the first time since 2009, the U.S. oil exploration and production (E&P) sector has slowed to a blip of its previous boom. The price… Read More
2016 January-February 

Jumping Off a Drilling Platform Into the Deep Blue Sea

Every day it seems I hear about how this never-ending oil slump is affecting major corporations worth millions of dollars. But what about “the little guy?” What about those mom and pop companies that service the oil industry; the independent contractors that are hard-pressed for work; the small start ups that unknowingly chose a bad time to start up? How… Read More
2016 January-February 

Refiners Profit from Oversupply of Crude Oil

The collapse of crude oil prices has created massive layoffs in the exploration and production sector of the industry, but the refining and marketing sector is having a record-breaking, great year. Morgan Stanley reports that the leading independent refineries “reported strong beats.” It noted that Valero raised its dividend, and Tesoro and Phillips 66 raised buybacks. “Refuting fears of weakening… Read More
2016 January-February Interviews Jason Spiess 

Q&A with Jason Spiess: Dean Bresciani

North Dakota State University President Dean Bresciani is very familiar with energy plays and boom-bust cycles. His previous experiences in Texas, at Texas A&M, allowed him to consume oil and gas on a day-to-day basis. Only his consumption was more intense than the average industry professional. It involved research and finance. Jason Spiess: I started noticing through the energy industry… Read More
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