Schlumberger targets Texas growth with “rig of the future”
The chief executive of the world’s largest energy services company said Friday that its two, new pilot-program rigs are starting up operations in the U.S. this year to unleash greater depths of directional drilling and...
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Shell selling Canadian shale assets for $1 billion
Royal Dutch Shell has agreed to sell off Canadian shale assets to Tourmaline Oil for $1.04 billion, its latest in a string of transactions aimed at shedding assets to make room for its recently acquired...
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Oil holds near $50 as investors weigh production agreement
Crude held above $50 a barrel as investors weighed the likelihood of a deal to reduce supply after Russia’s Energy Minister said the country’s output could rise to a record next year. December futures were...
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FMC Technologies pays $2.5 million fine to settle charges it overstated profits
The SEC charged FMC with pressuring with energy infrastructure segment to improve financial performance. The business segment’s controller, Jeffrey Favret, and an employee who reported to him, Steve Croft, reduced the company’s costs for employee...
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Market Currents: Nigerian oil exports rebounding
As yesterday’s exceedingly mixed weekly EIA report is digested, oil prices are unwinding a good deal of yesterday’s knee-jerk rally. As dollar strength further encourages crude lower, hark, here are five things to consider in oil...
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