A year ago, Anadarko Petroleum Corp. reported making a profit in the second quarter of the year. This year, it’s a different story as the Houston, Texas based firm reported a second-quarter loss of $692 million. Its losses were $1.36 a share basis and adjusted for non-recurring costs, they came to 60 cents per share. …
A few days after ConocoPhillips announced the cut of a thousand workers from the company payroll, causing some consternation in the company’s Bartlesville operation, the firm reported a cut in its 2016 budget for the third time this year. Amidst the crude oil slump that’s now in its second year, the company cuts the capital …
DES MOINES, Iowa (AP) — The Texas company planning a crude oil pipeline that will cut across Iowa received the final federal permit approvals Tuesday needed to proceed with construction. Documents posted by the Iowa Utilities Board show the U.S. Army Corps of Engineers approved 60 river crossings in Iowa for Dakota Access, a decision …
Cleanup was underway this week off the coast of southeast Louisiana of an oil spill apparently caused by a leak from an abandoned pipeline. The U.S. Coast Guard said the leak happened near marshland along Lake Grand Ecaille, which is about 60 miles southeast of New Orleans. The owner of the abandoned line is listed …
Houston-based Key Energy Services, Inc. announced on Wednesday that the New York Stock Exchange will commence proceedings to delist the company’s common stock based on “abnormally low” price levels. The NYSE also suspended trading in the Company’s common stock effective immediately, according to the company’s news release. An appeal by Key Energy Services is not …
Oil futures settled close to $42 a barrel on Wednesday after a government report revealed an increase in both gasoline and oil inventories in addition to a rise in crude production, according to Bloomberg MarketWatch. On the New York Mercantile Exchange, September West Texas Intermediate crude dropped 91 cents, or 2.1%, to settle at $42.01 …
A federal agency has finally given approval of a nearly 200-mile Comanche Trail Pipeline to be built near El Paso in southern Texas. Approval came this week at the Federal energy Regulatory Commission for part of the natural gas pipeline that’s being constructed and operated by Energy Transfer Partners at the U.S. and Mexico boundary …
Nebraska state leaders indicate they will not challenge a judge’s decision against allowing a Colorado company from using a well in the Nebraska Panhandle to dispose of fracking wastewater from other states’ wells. The judge had ruled last month the Nebraska Oil and Gas Conservation Commission exceeded its authority in granting the request by Terex …
Talk about taking a hit. How about the 45% drop in earnings in the second quarter for BP, the British energy company. Profits fell to $720 million from $1.3 billion in the same quarter a year ago, according to a statement released by the company. BP’s net loss narrowed to $1.4 billion from $5.8 billion. The …
While Brent crude managed to eek out a slight gain for the day, West Texas Intermediate settled below $43 a barrel on Tuesday as traders worried about an uptick in domestic drilling, according to Bloomberg MarketWatch. On the New York Mercantile Exchange, September West Texas Intermediate crude fell by 21 cents, or 0.5%, to end …
