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UPDATE 2-EOG Resources to resume fracking if oil hits $65/barrel

WILLISTON, N.D., May 4- Oil and natural gas producer EOG Resources Inc plans to begin fracking hundreds of wells in North Dakota and Texas later this year if oil prices stabilize around $65 per barrel, executives said on Monday after reporting a better-than-expected adjusted profit. Whiting Petroleum Corp said last week it would add drilling rigs to its...
Source: Reuters | By: Ernest Scheyder
UPDATE 1-EOG Resources results beat Street on oil hedges

WILLISTON, N.D., May 4- Oil and natural gas producer EOG Resources Inc posted a better-than-expected adjusted profit on Monday as hedges and cost cuts helped offset low oil prices. It was the continuation of a theme for U.S. shale oil producers, including Whiting Petroleum Corp and Hess Corp, who have aggressively curtailed spending and relied in varying degrees...
Source: Reuters | By: Ernest Scheyder
U.S. shale firms revive hedging as oil rebounds, may vex OPEC

NEW YORK, May 1- U.S. oil producers are rushing to take advantage of the rebound in oil markets by locking in prices for next year and beyond, safeguarding future supplies and possibly paving the way for a rebound in production. The flurry of hedging activity in the past month will help sustain producers' revenues even if oil markets tumble again, which is bad news for...
Source: Reuters | By: Catherine Ngai
Cramer: Buy oil stocks? Don't you dare

Jim Cramer warns investors on the danger of getting in on crude right now. Will the window be closed forever?
Source: CNBC.com | By: Abigail Stevenson
Cramer: Too late to buy oils  

Time to buy oils? Mad Money's Jim Cramer shares his take on how to play the commodity.
Source: CNBC.com
UPDATE 1-Whiting would add rigs if oil prices hit $70 per barrel

WILLISTON, N.D., April 30- Whiting Petroleum Corp, the top oil producer in North Dakota, plans to keep 11 drilling rigs operating through 2016, though it would add "a couple of rigs" if crude prices rise to $70 a barrel, its chief executive said on Thursday. Hess Corp, for example, does not plan to add any rigs this year, while Pioneer Natural Resources Co told Reuters last...
Source: Reuters | By: Ernest Scheyder
ExxonMobil beat was best among supermajors: Analyst

Exxon Mobil reports quarterly earnings and revenue that handily topped analysts' expectations.
Source: CNBC.com | By: Fred Imbert
Hess reports 1Q loss

NEW YORK- Hess Corp. on Wednesday reported a first-quarter loss of $389 million, after reporting a profit in the same period a year earlier. The average estimate of 11 analysts surveyed by Zacks Investment Research was for a loss of $1.09 per share. Three analysts surveyed by Zacks expected $1.44 billion.
Source: The Associated Press
CERAWEEK-U.S. energy secretary touts nuclear deal with Iran

HOUSTON, April 22- An agreement between the United States, Iran and other world powers designed to curtail Iran's nuclear program is effective and would work if implemented, U.S. "It's a long term process with constraints coming off at various time frames as confidence improves" in Iran's nuclear intentions. A framework agreement that would curb Iran's nuclear...
Source: Reuters | By: Ernest Scheyder
CERAWEEK-'Ducks' and oil: no need to fear US crude supply deluge

The assumption is that oil firms will finish work on those wells, known as "ducks" in the industry jargon, once oil prices recover further and North Dakota activates its tax relief in response to a long market slump. "You know you have an 800- pound gorilla that is potentially going to come after you if the price goes up," Jackson Hockley, an analyst at wealth manager...
Source: Reuters | By: Ernest Scheyder and Anna Driver