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Carrizo Oil and Gas reported better than expected earnings after the close Monday  $CRZO last year paid $DVN $215 million to increase it's Delaware basin acerage for $215 million and as expected announced record production.

Pure Fracking play Keane Group reported fourth quarter earnings after the close Monday, however with lower revenue. $FRAC footprint is in the Permian Basin, Marcellus Shale/Utica Shale, the SCOOP/STACK Formation and the Bakken Formation.

With a weaker Chinese economy, and a debt burden expected to rise by three to four percentage points of GDP shadow banking practices should be a concern; However both rating agency Fitch and Morgan Stanley downplay the risk believing the debt is now more transparent.

Chinese video streaming company iQiyi, known as China's Netflix  reported better than expected fourth quarter earnings Thursday after the close seeing the stock gain 22%. Losses were again huge, over US$500 million for the quarter, but revenue soared 55% exciting investors.

U.S. oil rigs in service fell 4 this week as U.S.oil production hit another all time high of 12.00 million bpd. US Natural gas rigs were unchanged Oil rigs fell 8 in Canada and Canadian natural gas rigs fell 4 with the freezing  weather. 

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