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Oil and Gas Exploration

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  • But away from the bad-tempered litigation in U.S. courts, which has dominated the news about Argentina for months, the country is experiencing an oil drilling boom as international companies seek to cash on its huge shale resources.

  • *U.S. sanctions on Russia include Rosneft, Exxon's partner. OSLO, July 21- An ordinary, long-scheduled journey of an oil drilling rig into Arctic waters is turning into a major political exercise, attracting international scrutiny and creating a dilemma for ExxonMobil.

  • *Gross refining margin $8.7/ bbl in Q1 from $8.4/ bbl yr ago. MUMBAI, July 19- Indian energy conglomerate Reliance Industries Ltd's quarterly net profit topped market expectations, bolstered by strong revenue growth in its oil and gas business and higher margins in its core refining business.

  • Ranking US states by job creation in past 5 years Friday, 18 Jul 2014 | 11:06 AM ET

    WASHINGTON— Since the Great Recession officially ended in June 2009, the U.S. economy has generated 7.8 million jobs. North Dakota, benefiting from an oil and gas drilling boom, has created nearly 98,000 jobs over the past five years, a 27 percent increase-- by far the best in the country.

  • Obama opens Eastern Seaboard to oil exploration Friday, 18 Jul 2014 | 10:09 AM ET

    The U.S. Bureau of Ocean Energy Management disclosed its final approval first to The Associated Press ahead of an announcement later Friday. The approval opens the outer continental shelf from Delaware to Florida to exploration by energy companies preparing to apply for drilling leases in 2018, when current congressional limits are set to expire.

  • ST. AUGUSTINE BEACH, Fla.— AP NewsBreak: Obama approves sonic cannons, opening US Eastern Seaboard to oil exploration.

  • Details of court ruling on 2012 gas drilling law Thursday, 17 Jul 2014 | 3:42 PM ET

    Details of Thursday's Commonwealth Court ruling on a lawsuit challenging aspects of a 2012 law that updated Pennsylvania's oil and gas drilling regulations:. —The Pennsylvania Public Utility Commission's power to withhold drilling fee revenue from municipalities whose zoning it deems to illegally restrict drilling activity.

  • Hickenlooper asks public to reject oil, gas limits Thursday, 17 Jul 2014 | 3:02 AM ET

    DENVER— A day after giving up on efforts to call a special legislative session on oil and gas drilling, Gov. John Hickenlooper appealed to the public Thursday to decry possible ballot measures to curb the industry.

  • Health chief: No fast answer to drilling questions Wednesday, 16 Jul 2014 | 12:13 PM ET

    PITTSBURGH— The head of Pennsylvania's Department of Health said Wednesday that its experts are responding to health complaints related to natural gas drilling, but there is no quick and easy way to answer questions about the issue.

  • Texas judge upholds $3 million fracking verdict Tuesday, 15 Jul 2014 | 7:24 PM ET
    Pump jacks and wells are seen in an oil field on the Monterey Shale formation where gas and oil extraction using hydraulic fracturing, or fracking, is on the verge of a boom on March 23, 2014 near McKittrick, Calif.

    A Texas judge upheld a $3 million verdict in favor of a family who claimed that oil and gas drilling near their land made them sick.

  • Texas judge upholds $3 million fracking verdict Tuesday, 15 Jul 2014 | 5:40 PM ET

    July 15- A Texas judge upheld a $3 million jury verdict by ruling in favor of a family who claimed that oil and gas drilling near their land made them sick, in a landmark case hailed as a victory by anti-fracking activists. Judge Mark Greenberg on July 9 entered a final judgment for the Parrs and denied Aruba's bid to overturn the multimillion dollar jury award.

  • Big shale deal may be easy money or strong market Monday, 14 Jul 2014 | 10:03 AM ET
    Traders on the floor of the New York Stock Exchange.

    Big mergers are afoot. But is a major shale oil deal a sign of a strong market?

  • Whiting, Kodiak create Bakken shale powerhouse Monday, 14 Jul 2014 | 8:22 AM ET
    A construction worker specializing in pipe-laying sandblasts a section of pipeline in North Dakota.

    Whiting Petroleum said it would acquire Kodiak Oil& Gas for $3.8 billion, becoming the largest producer in North Dakota's Bakken shale play.

  • US oil output booms—now refiners have to catch up Sunday, 13 Jul 2014 | 12:02 PM ET

    The United States is swimming in oil and gas. However, processing this bounty is posing a challenge to U.S. refiners.

  • HAVANA, July 11- Russian President Vladimir Putin pledged to help revive Cuba's struggling offshore oil exploration on Friday at the start of a six-day tour of Latin America as Russia aims to reassert its influence on the communist-ruled island.

  • Saudi America? Close...but no cigar: Analysts Thursday, 10 Jul 2014 | 10:53 AM ET
    Construction of the Keystone Pipeline in Prague, Okla., (L) and an oil pipeline in northeastern Saudi Arabia.

    The U.S. is producing vast amounts of oil—but isn't quite in Saudi Arabia's league just yet, according to experts.

  • LONDON, July 10- Two years ago Total's chief Christophe de Margerie launched a "high risk, high reward" oil exploration strategy, betting he could hit a bonanza, even though his rivals had failed to make big discoveries.

  • MOSCOW/ LONDON, July 9- With President Vladimir Putin watching from afar, the head of Rosneft, Igor Sechin, launched the world's biggest oil drilling platform in the Okhotsk Sea to warm handshakes with his colleagues from ExxonMobil.

  • RIO DE JANEIRO, July 8- Brazil's most promising offshore oil province, the Santos Basin, has 400 times the number of oil leaks as its older and more prolific neighbor, the Campos Basin, a Brazilian university study says, raising concern about the environmental sustainability of the country's new oil wealth.

  • Study links quakes to water dumping—not fracking Thursday, 3 Jul 2014 | 2:29 PM ET

    A "very small number" of disposal wells are behind a swarm of earthquakes plaguing Oklahoma, according to a new study.