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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Shareholders sue to stop Spectra merger with Enbridge
Shareholders have filed five separate suits in two weeks against Spectra Energy Corp., alleging the Houston pipeline company is selling itself too cheaply to the Canadian energy firm Enbridge. The all-stock deal, valued at $127...
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Woe in the oilfield: 213 companies have now declared bankruptcy
Fewer and fewer oil exploration and production companies are declaring bankruptcy. But more oilfield service companies are. So far this month, only one North American E&P firm filed for Chapter 11 protection, according to data...
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