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Rigzone Industry News

1. US Not Ruling Out Possible Oil Embargo on Venezuela -Haley

   "There's a lot of support in Latin America to see Venezuela start to respect its people and go back to the democracy it's supposed to be," said UN Ambassador Nikki Haley.

2. US Oil Drillers Cut Rigs for 3rd Week in a Row -Baker Hughes

   Drillers cut five oil rigs in the week to Sept. 22, bringing the total count down to 744.

3. Oil Treads Water With OPEC's Silence on Supply-Cut Extension

   Oil rose slightly after an OPEC gathering concluded with no decision on an extension or deepening of supply cuts.

4. Shale Billionaire Hamm Slams 'Exaggerated' US Oil Projections

   Harold Hamm says the government was way too optimistic with its prediction of more than 1 million new barrels a day in US production.

5. The Math on E&P Stocks Doesn't Add Up

   CEOs and boards are focusing on the wrong metrics. But if they change their ways, the opportunity could be great.