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  • Helix Energy beats 1Q profit forecasts Monday, 20 Apr 2015 | 6:16 PM ET

    HOUSTON _ Helix Energy Solutions Group Inc. on Monday reported first-quarter profit of $19.6 million. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 1 cent per share. This story was generated by Automated Insights using data from Zacks Investment Research.

  • GulfMark Offshore reports 1Q loss Monday, 20 Apr 2015 | 6:09 PM ET

    HOUSTON _ GulfMark Offshore Inc. on Monday reported a first-quarter loss of $5.1 million, after reporting a profit in the same period a year earlier. For the current quarter ending in June, GulfMark Offshore said it expects revenue in the range of $70 million to $75 million. GulfMark Offshore shares have decreased 33 percent since the beginning of the year.

  • The oil price crash represents for some "a great chance to seize on the crisis and turn it into an opportunity," Les Csorba, a partner with Heidrick& Struggles in Houston, said on the sidelines of the CERAWeek conference. Two executives that typify the new breed include the chief executive officers of Apache Corp and Chesapeake Energy. Apache's John Christmann and...

  • HOUSTON— Halliburton Co. has cut 9,000 jobs— more than 10 percent of its workforce— in about six months and is considering more cost-cutting moves as falling oil prices sap demand for its drilling help. Halliburton executives disclosed the job cuts Monday on a conference call with investors. Schlumberger and Halliburton help map underground oil and gas...

  • HOUSTON, April 20- Senator Lisa Murkowski said on Monday she will introduce legislation this year to allow U.S. crude exports, saying the Obama administration shouldn't dare lift sanctions on Iran before scrapping the U.S. crude export ban. While the final framework of the deal has yet to be determined, it appears it would let Iran export far more crude oil than at...

  • HOUSTON— Halliburton reported a $643 million loss for its first quarter, as the oilfield services provider continued to adjust to slumping energy prices that have forced layoffs and other cutbacks at companies across the sector. Halliburton announced in February that it will eliminate at least 5,000 jobs. In North America, Halliburton Co. felt pricing...

  • The assumption is that oil firms will finish work on those wells, known as "ducks" in the industry jargon, once oil prices recover further and North Dakota activates its tax relief in response to a long market slump. "You know you have an 800- pound gorilla that is potentially going to come after you if the price goes up," Jackson Hockley, an analyst at wealth manager...

  • ON THE GULF OF MEXICO— Five years after the nation's worst offshore oil spill, the industry is working on drilling even further into the risky depths beneath the Gulf of Mexico to tap massive deposits once thought unreachable. The number of deepwater drilling rigs has increased, too, from 35 at the time of the Macondo blowout to 48 last month, according to data from...

  • 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.