Shale rigs idle, layoffs rise as US$60 oil tests resilience of Permian [BNN Bloomberg (Canada)]
ConocoPhillips (COP)
Last conocophillips earnings: 4/30 07:00 am
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Source: BNN Bloomberg
His small business, Tie Specialties, in Odessa, Texas, saw a 25 per cent drop in oilfield sales over the last four to six months. Shelves are stacked with hand tools like wrenches, augers for digging holes, shovels, and other power tools. Peg boards show off hard hats, gloves, and various colored overalls. “This is my sixth boom-bust. So I've been around it. I'd call it a slowdown, but everybody that I've talked to says the future is not very bright for the next couple of years,” said Waters, 65. U.S. oil output has yet to register the full impact of the downturn. Waters and others who make their living around the oilfield are finding it more difficult to turn a profit as crude hovers around US$60 a barrel, signaling bigger economic woes are on the way, Reuters interviews with 10 producers, service companies and residents around the Permian Basin show. The largest U.S. oilfield has weathered previous downturns, but U.S. President Donald Trump's policies have added to the slide
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News
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COP
Earnings
- 11/6/25 - Beat
COP
Sec Filings
- 12/3/25 - Form 4
- 11/18/25 - Form 4
- 11/18/25 - Form 4
- COP's page on the SEC website