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Oil and Gas Exploration

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  • BRUSSELS, Dec 17- The European Union will widen its ban on investment in Crimea to target Russian Black Sea oil and gas exploration, EU officials said on Wednesday, tightening sanctions first imposed over Moscow's annexation of the region. At a summit on Thursday and Friday in Brussels, EU leaders meeting in the European Council will announce the punitive...

  • Investors in beat-up oil bonds lean on banks for rescue Wednesday, 17 Dec 2014 | 1:00 AM ET

    BOSTON, Dec 17- Independent oil exploration and production companies are leaning heavily on bank credit lines to survive plunging crude prices, making it a nervous time for U.S. funds holding their junk-rated debt. 'said Francis Bradley III, a Greenberg Traurig attorney in Houston who specializes in energy company financing deals. " U.S. mutual funds hold an...

  • Will the Fed say buh-bye to 'considerable time?' Tuesday, 16 Dec 2014 | 4:55 PM ET
    Janet Yellen

    "Considerable time" may be on its way out. But the Fed needs to be careful not to send signals to the market it will take back later.

  • Bakken-Cushing pipeline project slammed shut Saturday, 13 Dec 2014 | 11:01 AM ET

    Enterprise Products Partners is shelving a pipeline that would have transported crude from North Dakota to Oklahoma, the company said Friday.

  • Dec 12- Energy companies cut 29 oil drilling rigs in the United States this week, the most in two years, as oil prices kept sliding, bringing crude down 47 percent since June, data showed on Friday. The number of rigs drilling for oil declined to 1,546 in the week to Dec. 12, according to data from oil services firm Baker Hughes. Twenty-one of the 29 rigs that were cut were in...

  • Mexico opens bidding for outsider oil exploration Thursday, 11 Dec 2014 | 3:59 PM ET

    MEXICO CITY— The government announced on Thursday the start of bidding for oil exploration rights in 14 areas of the Gulf of Mexico being opened to domestic and international companies as Mexico ends a seven-decade state monopoly on the petroleum business. Mexico nationalized its oil industry in 1938. Prior to this year's reforms, the state company...

  • EU considers tightening ban on energy, tourism in Crimea Wednesday, 10 Dec 2014 | 10:05 AM ET

    BRUSSELS, Dec 10- The European Union is considering widening its ban on investment in Crimea to include barring the sale of technology used for oil and gas exploration and stopping EU firms running tourist businesses there, according to a draft document seen by Reuters. The proposals, being worked on by EU officials, would also ban EU citizens from buying or...

  • OPEC cuts 2015 forecast as shale boom persists Wednesday, 10 Dec 2014 | 8:08 AM ET
    Floor hands for Raven Drilling, work on an oil rig drilling into the Bakken shale formation on July 28, 2013 outside Watford City, North Dakota.

    Global demand for oil from OPEC next year will be less than expected because of weaker growth in consumption and the U.S. shale boom.

  • The silent crash in commodities—a warning sign Tuesday, 9 Dec 2014 | 12:32 PM ET

    We should heed the warning sign that the silent crash in commodities is flashing, says Ron Insana.

  • The pace of drilling and production growth in the Eagle Ford and Permian Basin shale plays in Texas, which together with North Dakota's Bakken account for most of the increase in U.S. output since 2008, was accelerating in the first eight months of 2014.. The combined crude output from the Eagle Ford and Permian Basin surged by 400,000 barrels per day in the eight...

  • Dec 8- Precision Drilling Corp said it expected 2015 capital spending to be 44 percent lower than this year's already lowered budget as a steep fall in oil prices threaten to render exploration and development project uneconomic. Precision Drilling, Canada's largest oil and gas drilling contractor, said it expected to spend C $493 million next year.

  • One NATO state wins big from clashes with Putin Sunday, 7 Dec 2014 | 9:00 AM ET
    Russian President Vladimir Putin (R) Turkish President Recep Tayyip Erdogan (L) seen during a welcoming ceremony in Ankara, Turkey on Dec. 1st, 2014.

    Vladimir Putin is trying to make the best of a tough geopolitical situation, and one NATO member is seeing big benefits.

  • WASHINGTON, Dec 3- U.S. economic activity continued to expand in October and November, with lower gasoline prices boosting consumer spending, the Federal Reserve said on Wednesday. "In early November, oil and gas exploration activity decreased in North Dakota and increased in Montana relative to a month earlier; production remained at record levels," the Fed said. "

  • Huge opportunity in high-yield bond market: Pro Wednesday, 3 Dec 2014 | 12:20 PM ET

    JMorgan's Jim Casey is "concerned" about the impact of falling oil on high-yield bonds but said some hedge funds see opportunity.

  • Texas town's fracking ban takes effect amid issues Tuesday, 2 Dec 2014 | 4:15 PM ET
    Topher Jones, of Denton, Texas, Edward Hartmann, of Dallas and Angie Holliday of Denton, held a campaign sign supporting a ban outside city hall, in Denton, Texas last November.

    Denton, a small town north of Dallas is the first municipality to ban fracking for shale oil, reports NBC.

  • What US should do to fight this 'oil war': Insana Monday, 1 Dec 2014 | 1:35 PM ET

    Saudi Arabia and OPEC may have just launched an 'oil war.' Here's what the US response should be, says Ron Insana.

  • Playing oil—buy these stocks, avoid these: Pros Monday, 1 Dec 2014 | 10:03 AM ET
    A floor hand for Raven Drilling, works on an oil rig drilling into the Bakken shale formation outside Watford City, North Dakota.

    Oil stocks have taken a beating, but companies that run on energy have taken the Dow Transports to new highs.

  • *Asset sales have yielded $150 billion over four years. LONDON, Nov 28- With oil company revenues set to drop on the back of a rout in prices, boards will have to cut investments and increase borrowing to maintain their cherished dividend payouts. The world's top oil companies including BP, Royal Dutch Shell, Total, ExxonMobil and Chevron are already in the midst of a...

  • The big, immediate threat for a foreign oil giant Wednesday, 19 Nov 2014 | 2:15 PM ET
    A tugboat (R) approaches a Petrobras oil platform in Guanabara Bay, offshore from Niteroi, Brazil.

    Brazilian Petrobras shares stabilized for the first time in months, after falling 45% since late August. Is it time for investors to jump in or out?

  • NEW YORK, Nov 19- Several months ago, U.S. mutual funds scooped up most of the $1.25 billion in high-yield junk bonds issued by Denbury Resources Inc, a Plano, Texas, oil and gas exploration company. The 5.5 percent coupon on the Denbury bonds maturing in 2022 attracted a number of U.S. mutual fund buyers, including the Franklin Income Fund, which held nearly 10 percent...