Archives for 2016
Hobbled by bankruptcy, Key Energy promises to pay employees and vendors
Key Energy Services has promised to pay employees, vendors and some creditors in full as it works through bankruptcy. The Houston-based oilfield services company filed for chapter 11 protection on Monday. Late Tuesday, the company...
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Crude oil inventory levels unexpectedly fall
The nation’s stockpiles of crude oil and gasoline both dipped slightly in the past week, surprising many estimates that projected an oil inventories build. Crude stockpiles dipped by 600,000 barrels from last week, while motor...
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U.S. drillers poised to hike spending by a quarter next year, Evercore says
If oil prices hold onto recent gains, drillers could pump billions back into U.S. oil fields next year, setting the stage for an industry comeback after two years of deep cutbacks. In North America, oil...
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Nigerian militants claim to have bombed Chevron export pipeline
WARRI, Nigeria — Nigerian militants have bombed an oil export pipeline operated by U.S.-based multinational Chevron, according to the attackers and residents, and the militants are warning companies not to carry out repairs to sabotaged...
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‘The fourth quarter is the beginning,’ Weatherford CEO promises
The chief executive of Houston-based Weatherford International promised the worst is behind it after a difficult third quarter. Weatherford, the world’s fourth-largest oilfield service company, reported a $1.8 billion loss and negative free cash flow....
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