Archives for June 2016
Gasoline prices jump with bad weather, refinery outages
The average price of a gallon of regular unleaded gasoline in Houston rose 6 cents in the past week up to $2.13, according to GasBuddy, which surveys retail gasoline prices and refinery activity. This national...
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As oil nears $50 a barrel, will renewed drilling undercut price gains?
The oil market is turning its attention back to the U.S. as more of its rigs return to work following a surge to $50 a barrel, raising concern that a production rebound may stifle crude’s...
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Devon Energy to sell Texas, Oklahoma oil fields
Devon Energy Corp., the energy producer that’s targeted $3 billion of asset sales to fund drilling and lower debt, agreed to sell fields in Texas and Oklahoma and a royalty interest in the northern Midland...
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Moody’s downgrades Halliburton and Baker Hughes
Moody’s cut the credit rating by two notches of the two, Houston-based oil field services giants — the world’s second and third-largest services companies after Schlumberger. Their ratings were dropped from A2 down to Baa1,...
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Some drillers set to boost spending as oil rises, Evercore says
HOUSTON – The long financial drought that has deeply bruised energy service companies may be nearing an end. As oil prices hover near $50 a barrel, record oil company spending cuts the past two years...
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