Ernest's Feed
Feb 5, 2015
Feb 5, 2015

Clock starts ticking on $5.3 bln tax break for North Dakota oil

, Feb 5 (Reuters) – Tumbling crude oil prices
have started the clock ticking on a potential $5.3
billion, two-year tax break for North Dakota’s oil producers.

The countdown, which started this week, holds the promise of
a silver lining of sorts for oil producers and their contractors
in the No. 2 oil-producing U.S. state, many of whom have
struggled with a roughly 50 percent drop in oil prices since
last June.

Feb 5, 2015
Feb 5, 2015
Feb 4, 2015
Feb 4, 2015
Feb 4, 2015
Feb 4, 2015
Feb 4, 2015
Feb 4, 2015

Many oil firms plan no North Dakota layoffs despite cheap oil

, Feb 4 (Reuters) – Halliburton,
Statoil ASA, Hess Corp and other North Dakota
energy companies have decided, for now, not to lay off staff in
the No. 2 U.S. oil producing state, hoping to be prepared for
any prolonged rebound in crude prices.

Many oil producers and their contractors are trying to
strike a balance between cutting costs and maintaining workforce
reserves after a more-than 50 percent drop in oil prices
since last June.