Archives for 2016
Gas drillers send six more rigs to patch; Oil loses two
The number of oil rigs in U.S. fields fell by two this week, the first decline in 18 weeks, the Houston oilfield services company Baker Hughes reported Friday. At the same time, U.S. gas drillers...
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Market Currents: The OPEC conundrum continues
Despite a weaker dollar, oil prices are limping lower into the weekend, set for a first weekly decline in six. Next week we get a new month, and an onslaught of new economic data to...
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Calpine posts $295 million profit, but lower earnings guidance
Houston-based Calpine reported a $295 million profit for the third quarter, but the power generator still didn’t rake in as much money during the hot summer as hoped. As such, Calpine lowered it earnings guidance...
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In Permian Basin, Chevron aims to build a “well factory”
Chevron Corp.’s sprawling portfolio includes massive deep-water platforms, multibillion-dollar gas facilities and footholds in dozens of countries. But in a conference call on Friday, executives made it clear Chevron’s future has become closely tied to...
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GE talking partnerships with Baker Hughes as oil slump endures
General Electric Co. is holding discussions with Baker Hughes Inc. on potential partnerships that would bring together an industrial equipment behemoth with one of the oil industry’s largest service providers. The talks are ongoing but...
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