GO
Loading...

Houston

More

  • US oil and natural gas rig count drops by 34 to 954 Friday, 17 Apr 2015 | 7:50 PM ET

    Oilfield services company Baker Hughes Inc. says the number of rigs exploring for oil and natural gas in the U.S. declined by 34 this week to 954 amid depressed oil prices. Houston- based Baker Hughes said Friday 734 rigs were seeking oil and 217 explored for natural gas. Among major oil- and gas-producing states, Texas plummeted by 15 rigs; Oklahoma was down six;...

  • HOUSTON— Four companies and five individuals have been accused of illegally exporting to Iran high-tech electronics that could be used for military weapons. The indictment names Houston- based Smart Power Systems Inc., plus companies operating in Taiwan, Turkey and Iran. Some defendants are from Houston and Los Angeles, with arrests carried out in Texas and...

  • *Exxon Mobil front-runner for Mozambique LNG stake-sources. MILAN/ LONDON/ SINGAPORE, April 16- Anadarko Petroleum is considering selling its multi-billion dollar stake in Mozambique's giant gas reserves, with Exxon Mobil and Qatar Petroleum both showing interest, banking and industry sources said. The world's largest oil firm has been expected to follow...

  • April 17- Schlumberger Ltd, the world's No.1 oilfield services provider, reported a smaller-than-expected fall in first-quarter margins as it continued to execute tight cost controls to combat a decline in drilling activity. Schlumberger shares rose as much as 3.3 percent to a near-five-month high of $94.89 on Friday, a day after the company reported a...

  • Schlumberger is cutting another 11,000 jobs, bringing the total to 20,000 this year, as slumping oil prices squeeze the world's largest oilfield services companies. Schlumberger's profit tumbled 39 percent in the first quarter with oil companies cutting back on production in North America. Schlumberger has slashed spending to adapt, yet the fall-off has...

  • WILLISTON, N.D., April 17- Calpers, the largest American public pension fund, and nearly 60 other institutional investors will ask the U.S. Securities and Exchange Commission on Friday to require oil and natural gas companies to publish detailed analysis of the risks posed by climate change to their business models. Calpers and other investors will tell the SEC...

  • UPDATE 2-Schlumberger to cut 11,000 more jobs Thursday, 16 Apr 2015 | 6:31 PM ET

    April 16- Schlumberger Ltd said it would cut a further 11,000 jobs and reduced its capital spending plan for this year as the world's No.1 oilfield services provider prepares for an extended period of lower activity and pricing pressure, especially in North America. The lower activity and pricing pressure led to a 9 percent drop in Schlumberger's...

  • The 5 biggest IPOs of the year so far Thursday, 16 Apr 2015 | 5:00 PM ET

    NEW YORK— The five companies that raised the most money in their stock market debut this year include GoDaddy, the web hosting company known for its racy TV commercials. The list, provided by Renaissance Capital, which manages IPO-focused exchange traded funds, ranks the companies by how much money they raised in their initial public offering.

  • Kinder Morgan beats 1Q profit forecasts Wednesday, 15 Apr 2015 | 4:37 PM ET

    HOUSTON _ Kinder Morgan Inc. on Wednesday reported first-quarter earnings of $469 million. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 23 cents per share. Kinder Morgan shares have increased roughly 3 percent since the beginning of the year, while the Standard& Poor's 500 index has risen slightly more than 2...

  • Audit finds wide mismanagement at Philadelphia VA Wednesday, 15 Apr 2015 | 10:18 AM ET

    WASHINGTON— Unreasonable workloads and poor leadership at the Veterans Affairs facility in Philadelphia have led to mismanagement and delays in handling veterans' disability and pensions claims, according to a government audit released Wednesday. In a blistering 79- page report, the VA's inspector general cites a litany of problems, all part of a rush to...

  • April 14- Magellan Midstream Partners LP and TransCanada Corp, Canada's second-largest pipeline company, said on Tuesday they will develop a pipeline to connect TransCanada's Houston tank terminal to Magellan's East Houston terminal. The project will give shippers on TransCanada's Keystone and MarketLink lines access to Magellan's Houston and Texas...

  • April 14- Magellan Midstream Partners LP and TransCanada Corp, Canada's second-largest pipeline company, said they would develop a pipeline to connect TransCanada's Houston tank terminal to Magellan's East Houston terminal.

  • WILMINGTON, Del, April 14- The number of bankruptcies among publicly traded U.S. companies has climbed to the highest first-quarter level for five years, according to a Reuters analysis of data from research firm bankruptcompanynews.com. The $34 billion in assets held by the 26 companies is the second highest for a first quarter in the past decade.

  • *Chesapeake to receive $25 million and oil-gas leases. *AEP says McClendon had rights to Chesapeake data. The settlement could raise questions about whether EMG, which has invested more than $3 billion in ventures formed by McClendon since 2013, may be separating itself from McClendon, a successful oil and gas executive who co-founded Chesapeake in 1989. He...

  • April 14- Energy& Minerals Group, which has invested billions in oil and gas ventures with former Chesapeake Energy Corp Chief Executive Officer Aubrey McClendon, has moved to extricate itself from a lawsuit filed by Chesapeake alleging McClendon stole its trade secrets and used them to build up his new businesses. Houston- based EMG, a private investment firm...

  • April 14- Energy& Minerals Group, which has invested billions in oil and gas ventures with former Chesapeake Energy Corp Chief Executive Officer Aubrey McClendon, has moved to extricate itself from a lawsuit filed by Chesapeake alleging McClendon stole its trade secrets and used them to build up his new businesses. Houston- based EMG, a private investment firm...

  • 2nd major gas pipeline would link Pennsylvania, Northeast Saturday, 11 Apr 2015 | 11:16 AM ET

    SCHOHARIE, N.Y.— New York landowners along the planned 124- mile Constitution Pipeline are getting details of a second major natural gas pipeline proposed to cut through their property, this one a 325- mile link from Pennsylvania to New England. "You think about the worst things that can happen to you in a life and I've had some things happen to me in life, but this is...

  • US oil and natural gas rig count drops by 40 to 988 Friday, 10 Apr 2015 | 2:22 PM ET

    HOUSTON— Oilfield services company Baker Hughes Inc. says the number of rigs exploring for oil and natural gas in the U.S. declined by 40 this week to 988 amid depressed oil prices. Houston- based Baker Hughes said Friday 760 rigs were seeking oil and 225 explored for natural gas. Alaska, California, Louisiana, Pennsylvania, Utah and West Virginia were all unchanged.

  • LOS ANGELES, April 10- Former Enron trader and hedge fund billionaire John Arnold may be about to launch a national publicity campaign to convince U.S. voters of the need to reform public pensions, according to a document seen by Reuters. Growing costs were significant factors in the recent bankruptcies of Detroit and the California cities of Stockton and San...

  • CHARLESTON, W.Va.— Attorneys for Don Blankenship say they have conducted a survey showing that the former Massey Energy CEO cannot get a fair trial in southern West Virginia, but prosecutors say he's short of warranting a move elsewhere. His attorneys have suggested Martinsburg or Baltimore. Blankenship was charged with conspiring to violate safety...