Oil Players Talk Industry Direction
Investment banking firm Jefferies kicked off its sixth annual energy conference this week in Houston.
The conference features many of the top players in the oil and gas industry, including those in the E&P, midstream, MLP, drilling and services sectors. Last year, 75 companies participated, and this year is expected to be bigger than ever.
The energy conference gives some of the most notable names in the industry a platform to talk about the direction of the industry and outline plans for the future.
Oil Giants Talk Direction, Pricing
Halliburton Company (NYSE: HAL) talked about the acceleration of data and services integration, an increased focus on improving margins and made no commitment toward price increases in the first quarter.
Hi-Crush Partners LP (NYSE: HCLP) said Q3 volumes were up industry-wide but didn’t show the same growth as peers due to a focus on margins. Investors were expecting price increases in Q1, but no mention was made during the presentation.
Anadarko Petroleum Corporation (NYSE: APC) said the company is sticking to its plan and will increase spending to stem regional declines, with its pace of growth acceleration still to be determined. The company also said it is still evaluating asset sales but is not currently looking to sell anything for the sake of selling.
With OPEC set to hold a meeting in Vienna on Wednesday, this week is set to provide lots of color on the state of the oil industry.
The Jefferies Energy conference concludes on Wednesday.
At last check, United States Oil Fund LP (ETF) (NYSE: USO) was down 3.5 percent on the day, trading at $10.07.
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