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  • Feb 26- Offshore driller Ensco Plc said it would shut down an ultra-deepwater rig as demand dwindles due to a slump in crude prices, a day after it slashed its quarterly dividend by 80 percent. Ensco reported a fourth-quarter loss on Wednesday, compared with year-ago profit, hurt mainly by a $3 billion goodwill impairment charge. Ensco cut its quarterly dividend...

  • Feb 25- Engineering company Weir Group Plc said uncertainty in the oil and gas industry would significantly reduce its 2015 revenue on a constant currency basis despite aggressive cost-cutting, sending its shares tumbling on Wednesday. The number of rigs drilling for oil in North America last week was the lowest since July 2011, a survey by oil services firm...

  • Unit reports 4Q loss Tuesday, 24 Feb 2015 | 11:58 AM ET

    TULSA, Okla. _ Unit Corp. on Tuesday reported a fourth-quarter loss of $42.6 million, after reporting a profit in the same period a year earlier. The Tulsa, Oklahoma- based company said it had a loss of 88 cents per share. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 89 cents per share.

  • HOUSTON, Feb 23- Shale oil producers are throttling back so quickly on drilling that U.S. crude output could fall sooner than expected, within months, executives say as they slash costs to cope with tumbling crude prices and compete with Persian Gulf rivals. For one, companies are cutting costs deeper and faster than before as Wall Street investors increasingly...

  • US rig count decreases 48 to 1,310 Friday, 20 Feb 2015 | 1:46 PM ET

    HOUSTON— Oilfield services company Baker Hughes Inc. says the number of rigs exploring for oil and natural gas in the U.S. fell by 48 this week to 1,310 amid depressed oil prices. Of the major oil- and gas-producing states, Texas' count fell by 22, Oklahoma lost 16, North Dakota and Wyoming each lost four, Alaska lost three, Colorado lost two and California and Utah...

  • LONDON, Feb 20- Brent crude oil steadied above $60 a barrel on Friday as expectations of falling U.S. rig count numbers outweighed concerns about oversupply. This week's numbers, produced by oil services firm Baker Hughes Inc, are due around 1800 GMT on Friday. "A further sharp decrease in the oil rig count is expected... which points to declining U.S. oil production in...

  • Analysts said the rouble's trajectory would continue to be determined by oil, forex sales before large rouble-denominated taxes due next week and news out of Ukraine, where the market hopes a fragile ceasefire will hold. Russia celebrates the Defender of the Fatherland Day public holiday on Monday, meaning traders could be exposed to losses over the...

  • LONDON, Feb 20- Brent crude oil rose towards $61 a barrel on Friday as expectations of falling U.S. rig count numbers outweighed concerns about oversupply. This week's numbers, produced by oil services firm Baker Hughes Inc, are due around 1800 GMT on Friday. "A further sharp decrease in the oil rig count is expected... which points to declining U.S. oil production in the...

  • MOSCOW, Feb 20- Russia's Eurasia Drilling said on Friday it was delaying a deal to sell a stake in the company to oil services giant Schlumberger while it waited for approval from a Russian regulator. Last month, Schlumberger said it planned to buy a 45.65 percent stake in Eurasia for about $1.7 billion, potentially paving the way for it to become the sole owner of...

  • HOUSTON, Feb 20- Barely two months into his new job as the head of the world's largest offshore driller, Steven Newman was steering Transocean through the 2010 Gulf of Mexico oil spill, quickly earning a reputation as a CEO with a steady hand. A Transocean official declined to comment. According to a Transocean presentation, its fleet is about 25 percent larger than...

  • Superior Energy misses Street 4Q forecasts Thursday, 19 Feb 2015 | 4:48 PM ET

    HARVEY, La. _ Superior Energy Services Inc. on Thursday reported fourth-quarter net income of $66.1 million, after reporting a loss in the same period a year earlier. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 49 cents per share. Analysts expected $1.2 billion, according to Zacks.

  • *North Sea, West Africa, Brazil projects most vulnerable. OSLO, Feb 19- The global oil service industry will have to cut more jobs and idle more rigs following the slump in crude prices and companies must reshape their business models to get a grip on costs, the CEO of U.S. firm FMC Technologies said on Thursday. One of the world's biggest subsea equipment suppliers, FMC...

  • MILAN, Feb 19- Europe is attracting twice as many liquefied natural gas tankers as last year and more are expected in what is now the premium-priced market after a year-long demand slump in Asia. "We see NBP plus transportation returning as a price benchmark to Asia, at least for the next two to three years," said Javier Moret, head of LNG origination at RWE, Germany's...

  • Parker Drilling posts 4Q profit Thursday, 19 Feb 2015 | 5:03 AM ET

    HOUSTON _ Parker Drilling Co. on Thursday reported fourth-quarter earnings of $7.8 million. On a per-share basis, the Houston- based company said it had profit of 6 cents. Keywords: Parker Drilling, Earnings Report.

  • Feb 17- Oilfield services giants Schlumberger Ltd and Halliburton Co and many others in the oil and gas industry have announced plans to lay off thousands of people in the past few months as global oil prices have nearly halved since June. In January, crude prices fell to their lowest in more than five years, hurt by a global supply glut and OPEC's refusal to curtail...

  • Oil rig driller Transocean lets go of CEO Monday, 16 Feb 2015 | 6:38 PM ET

    The chief executive of Transocean Ltd. has agreed to resign as the head of one of the world's largest oil drilling rig companies. Steven Newman endured a rocky five years leading Transocean, which has seen its stock price more than halve since June to $19.05 as oil prices have plunged. The company also ran for BP the troubled Deepwater Horizon rig, which exploded...

  • Oil train derails in W. Va., sparks blast, fires Monday, 16 Feb 2015 | 4:22 PM ET

    A train carrying crude oil derailed in southern West Virginia on Monday sparking a house fire and threatening the water supply.

  • MOUNT CARBON, West Virginia— A train carrying more than 100 tankers of crude oil derailed during a snowstorm in southern West Virginia on Monday, sending at least one tanker into a river, igniting at least 14, and sending a fireball hundreds of feet into the sky, officials and residents said. And fires were still burning nearly nine hours after the accident,...

  • MOUNT CARBON, W.Va.— A train carrying more than 100 tankers of crude oil derailed in southern West Virginia on Monday, sending at least one into the Kanawha River, igniting at least 14 tankers and sparking a house fire, officials said. Kanawha County Manager Jennifer Sayre said a reported 14 to 17 tankers caught fire or exploded. James Bennett, 911 coordinator for...

  • LONDON, Feb 16- U.S. shale producers have responded even more quickly to lower oil prices than analysts expected, which should ensure shale production hits a plateau by May or June and is sustained rather than falling in the second half of the year. The number of rigs drilling for oil in the United States declined by another 84 last week, according to oil field...