News
Below are interesting stories concerning our industries, manufacturing, and our region.
  • Oil Explorers Lift Rig Count to 800 for First Time Since 2015

    U.S. oil explorers raised the rig count to 800 for the first time in almost three years amid booming domestic and overseas demand for crude and petroleum-based fuels. Drillers have been accelerating exploration in an almost-unbroken streak since the beginning of November, vaulting American crude out...

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  • Oil Gains Most in Two Weeks as Storage in Key Hub Seen Shrinking

    (Bloomberg) — Crude rose the most in two weeks as stockpiles at the largest U.S. storage hub are seen draining further. Futures gained 2.2 percent Monday after data-provider Genscape Inc. was said to report that inventories dropped in Cushing, Oklahoma, according to two people with knowledge o...

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  • Congratulations Kevin Harvick on win #100

    Event: Las Vegas 400 (Round 3 of 36) Series: Monster Energy NASCAR Cup Series Location: Las Vegas Motor Speedway (1.5-mile oval) Format: 267 laps, broken into three stages (80 laps/80 laps/107 laps) Start/Finish: 2nd/1st (Running, completed 267 of 267 laps) Point Standing: 1st (135 points, three ahe...

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  • US Oil Production Increases With Fewer Workers, Rigs.

    U.S. oil production surged to a 46-year record in October. The Energy Department said the nation’s output of crude oil jumped 1.8 percent to 9.64 million barrels a day. Morgan Stanley said shale drillers pumped at the fastest rate in nearly three years. And they did it with half the rigs they ...

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  • All That New Shale Oil May Not Be Enough as Big Discoveries Drop

    Three years after causing an oil-price crash, the shale boom may not be enough to meet rising global demand because the industry has cut back so sharply on higher-risk mega-projects. Discoveries of new reserves this year were the fewest on record and replaced just 11% of what was produced, according...

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  • Manufacturers React to Congressional Passage of the Tax Bill

    Manufacturers will save about $261 billion over the next decade thanks to the new Tax Cuts and Jobs Act. On paper, that should lead to new investments — in equipment, in workforce and beyond. Steve Staub was headed west on Interstate 70 on Wednesday afternoon, back to his factory in Dayton after a...

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  • US Manufacturers Are Really Optimistic Says NAM

    Manufacturers’ optimism has risen to unprecedented heights amid the legislative progress made on tax reform, according to the results of the Manufactures’ Outlook Survey for the fourth quarter of 2017. The study, conducted by The National Association of Manufacturers (NAM), found that 94.6% ...

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  • US Fuels the World as Shale Boom Powers Record Oil Exports

    (Bloomberg) — The world’s largest oil consumer exported more hydrocarbons than ever before in 2017 and shows no signs of slowing down. You name it — crude oil, gasoline, diesel, propane and even liquefied natural gas — all were shipped abroad at a record pace. While the surge com...

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  • US Manufacturing Stays Strong in November

    The manufacturing sector continued to grow at an above-average rate in November, as the impact of back-to-back hurricanes over the summer recedes, according to an industry survey released on Dec. 1. Output spiked and employment remains strong to produce “a really strong report” on the se...

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  • U.S. oil production surged in September as Texas rebounded from Harvey

    The nation’s oil production climbed nearly 300,000 barrels a day in September, reaching the highest level since its most recent peak in April 2015, the Energy Department said Thursday. Energy companies pumped 9.48 million barrels of oil a day in September, up 3.2 percent compared to the 9.19 m...

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  • U.S. drillers add the most oil rigs in a week since June: Baker Hughes

    Reuters (11/10, DiSavino) reported that “US energy companies added the most oil drilling rigs in week since June as crude prices traded up to their highest levels since the summer of 2015,” as the energy services firm Baker Hughes said drillers brought 9 oil rigs on line during the week of Novem...

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  • Oil Recovery Drives Texas Firms To Hire 30,000 Workers In Past Year

    The Houston Chronicle (11/6, Eaton) reports, “Texas oil companies have hired more than 30,000 workers over the past year, a sharp turnaround after they laid off a third of the industry’s statewide workforce during the oil bust.” The number of oil and gas workers in the state “reached more th...

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  • U.S. shale producers promise both higher output and returns

    Reuters (11/3, Scheyder) reported, “US shale producers are telling investors impatient for better returns that they can keep boosting oil output aggressively and do so while still making money for shareholders.” Investors have “pushed top US shale companies to focus on returns, rather than hig...

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  • Bloomberg: US Chemicals Industry “Rocketing Back.”

    Bloomberg News (11/3, Kaskey) reported that after enduring years of under-investment, the US chemical industry is revitalized. “Today,” Bloomberg wrote, “Dow, Exxon Mobil Corp., and Chevron Phillips Chemical Co. are putting the finishing touches on multibillion-dollar factories along the Texas...

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  • Manufacturing Entrepreneurs: Tales of Taking the Leap

    What does it take to found a manufacturing company in the United States? Try disruptive ideas, tenacity and a desire to make it in America for a start. “I know from very hard won experience that start-ups are enormously difficult and risky and chances are you’re not going to succeed,” says Kev...

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  • DowDuPont Announces Plans For New Ethylene, Plastics Plants On Texas Gulf Coast

    The newly merged DowDuPont said Thursday it’s opening its new ethylene and plastics plants in Freeport, making the nation’s largest chemical giant the first to start up a major ethylene complex along the Texas Gulf Coast. The complex is the crown jewel of the old Dow Chemical’s rec...

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  • NEW EMAIL FOR ACCOUNTING DEPARTMENT

    We now have a new email for our accounting group here at Champions Machine Tool Sales, Inc. If there are questions or concerns regarding billing, payments, or account status, please feel free feel to contact us at accounting@championscnc.com now. Someone from the accounting department will respond t...

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  • TEXAS Oil and gas workforce grew again in June — Federal Reserve

    New data from the Federal Reserve Bank of Dallas shows that the oil and gas industry added 4,300 jobs in June, compared to May. Many of those new jobs were in oilfield services, a sign that rising drilling activity was lifting employment. Follow the link provided to read more

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  • EIA: US Crude Stockpiles Fall The Most In Nearly A Year

    NEW YORK, Aug 16 (Reuters) – U.S. crude oil inventories fell for the seventh consecutive week in their largest drawdown in nearly a year while exports and production continued to rise, the Energy Information Administration said on Wednesday. Crude inventories fell 8.95 million barrels in the w...

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  • Women are Oil Industry’s Great ‘Untapped Reserve’ Says Study

    Women are “chronically” under-represented in the oil and gas industry and the sector is losing out by failing to draw on their skills, a study said on July 12. Women account for just 22% of workers in the oil and gas sector, said the joint study by the World Petroleum Council and Boston ...

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