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Oil and Gas Exploration

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  • LONDON, April 17- Argentina has started legal proceedings against five companies, including three British firms, which are drilling for oil and gas in the disputed Falkland Islands, raising tensions in a diplomatic row over the islands' sovereignty. Argentina's minister for the Falklands, known as Las Malvinas in Argentina, announced the start of the lawsuit in...

  • EZEIZA, Argentina, April 16- The cost of drilling wells in Argentina's vast but barely tapped Vaca Muerta shale oil and gas formation will fall at least 10 percent by the end of 2016, Miguel Galuccio, chief executive officer of state energy company YPF said on Thursday. The company, nationalized in 2012 as part of a production push aimed at erasing Argentina's...

  • TOKYO, April 16- Japanese stocks edged up on Thursday, as buying in oil and mining shares reversed early losses, offsetting profit-taking in recent gainers such as food stocks, while Sharp Corp surged on restructuring hopes. Rising oil prices lifted oil and mining stocks, with Inpex Corp soaring 5.4 percent and Japan Petroleum Exploration gaining 3.8 percent.

  • TOKYO, April 16- Japanese stocks slipped to more than a one-week low on Thursday morning as investors cut back on some recent outperformers including food companies and drugmakers, while Sharp Corp surged on restructuring hopes. Rising oil prices lifted oil and mining stocks, with Inpex Corp soaring 3.6 percent, Japan Petroleum Exploration gaining 2.1...

  • COLUMN-U.S. shale boom nears turning point: Kemp Tuesday, 14 Apr 2015 | 5:58 AM ET

    LONDON, April 14- Oil production from major U.S. shale plays will decline by almost 60,000 barrels per day between April and May according to new estimates from the Energy Information Administration. Only the Permian Basin is expected to post a small month-on-month increase in output. With the number of rigs drilling for oil in the United States down by almost 53...

  • BISMARCK, N.D.— North Dakota lawmakers on Tuesday approved a measure to create a pilot project aimed at treating and recycling some of an estimated 1 million tons of oil drilling waste annually for road building and other uses. Companies targeting the rich Bakken shale formation in western North Dakota get soil, rock and other underground matter along with...

  • WASHINGTON— A week shy of the fifth anniversary of the Deepwater Horizon oil spill, the Obama administration proposed new regulations Monday aimed at strengthening oversight of offshore oil drilling equipment and ensuring that out-of-control wells can be sealed in an emergency. The explosion of the Deepwater rig on April 20, 2010, killed 11 people and...

  • LONDON, April 13- Brent rose towards $59 a barrel on Monday in a volatile market, continuing gains after a strong end to last week as financial traders increased bets on higher prices amid a slowdown in U.S. drilling. Front-month Brent crude futures were up 82 cents at $58.69 a barrel by 0934 GMT, having earlier touched $59.54. "We found a bit of a momentum this morning,"...

  • WASHINGTON, April 10- The United States is planning to impose a major new regulation on offshore oil and gas drilling to try to prevent the kind of explosions that caused the catastrophic BP Plc oil spill in the Gulf of Mexico, the New York Times reported on Friday, citing Obama administration officials. The Interior Department could make the announcement as...

  • ANCHORAGE, Alaska— The federal government began the review process Friday on Royal Dutch Shell's plans to continue a drilling program it halted in 2012 in Arctic waters off Alaska's northern shore. The public will have until April 20 to comment on environmental aspects and until May 1 to comment on the overall revised plan, submitted by the subsidiary, Shell...

  • Are floodgates about to open for Australia M&A? Thursday, 9 Apr 2015 | 12:38 AM ET

    Shell's takeover bid for BG may be a harbinger of more deals for Australia's resources sector, which has taken a body blow from low commodity prices.

  • Apache selling Australian subsidiary for $2.1 billion Wednesday, 8 Apr 2015 | 5:19 PM ET

    HOUSTON— Apache Corp. says it is selling its Australian oil exploration and production subsidiary for $2.1 billion in cash. The Houston- based company said Wednesday that a consortium of private equity funds managed by Macquarie Capital Group Ltd. and Brookfield Asset Management Inc. agreed to buy Apache Energy Ltd.. The assets of Apache Energy Ltd. and its...

  • These firms consistently crush earnings forecasts Wednesday, 8 Apr 2015 | 10:33 AM ET
    Aluminum rods in a Alcoa plant.

    These 12 companies have torn past adjusted earnings forecasts by 10% or more for 4 straight quarters. USA TODAY reports.

  • Shell gambles on rocky Brazil, Petrobras with BG bid Wednesday, 8 Apr 2015 | 9:49 AM ET
    A Petrobas platform at the Brasfels shipyard in Angra dos Reis, about 115 miles west of Rio de Janeiro.

    Shell’s $69 billion bid for BG Group could increase its exposure to Brazil at a time when the country appears to be destabilizing and stagnating.

  • April 7- Royal Dutch Shell Plc said it has filed a complaint in federal court in Alaska seeking an order to remove Greenpeace activists who climbed aboard an oil rig in the Pacific Ocean bound for the Arctic on Monday in a protest against Arctic drilling. "We're here to highlight that in less than 100 days Shell is going to the Arctic to drill for oil," 32- year-old...

  • Goldman: Oil prices must 'stay low for longer' Tuesday, 7 Apr 2015 | 9:56 AM ET
    Pipelines and oil storage tanks in Cushing, Oklahoma

    U.S. oil inventory and capex falls may boost prices modestly near term, but production growth is still too strong for substantial gains, Goldman said.

  • Oklahoma shakes, and fingers point to fracking Saturday, 4 Apr 2015 | 3:09 PM ET
    Floor hands work on an oil rig in the Bakken shale formation outside Watford City, North Dakota.

    Scientists say thousands of Oklahoma quakes are caused by wells used to bury wastewater from oil and gas exploration, the NYT reports.

  • DUBAI, April 4- Kuwait Foreign Petroleum Exploration Company, a wholly-owned subsidiary of Kuwait Petroleum Corp, said on Saturday it had received an additional $1.5 billion loan, raising a previous debt it took last November to $2.5 billion. Bank of Tokyo-Mitsubishi-UFJ, HSBC Plc, JP Morgan, National Bank of Kuwait and Royal Bank of Scotland acted as...

  • WASHINGTON, April 3- The Obama administration on Friday finalized its recommendation to expand protected areas of Alaska's Arctic National Wildlife Refuge, calling on Congress to block about 12 million acres from oil and gas drilling. President Barack Obama, in a letter to House Speaker John Boehner released by the White House, stood by his administration's...

  • WASHINGTON, April 3- The Obama administration on Friday finalized its recommendation to expand protected areas of Alaska's Arctic National Wildlife Refuge, calling on Congress to block about 12 million acres from oil and gas drilling. President Barack Obama, in a letter to House Speaker John Boehner released by the White House, stood by his administration's...