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HOUSTON— Apache is selling its stake in two liquefied natural gas projects to Woodside Petroleum Ltd. for $2.75 billion. The deal also includes Apache's 50 percent stake in the Kitimat LNG project and related upstream acreage in the Horn River and Liard natural gas basins in Canada. Apache Corp. anticipates net proceeds of about $3.7 billion.
Best-known is Continental Resources, which lifted its hedges in early November, when oil was trading at around $83 a barrel, leaving it unprotected as prices slipped another $20, the most dramatic drop since the 2008 crisis. Apache Corp and Whiting Petroleum are also exposed to lower prices and have underperformed some peers over the past two weeks.
Dec 10- Goodrich Petroleum Corp and Oasis Petroleum Inc said they expect to spend much less on exploration and production next year, joining a list of U.S. oil and gas companies cutting capital spending as oil prices plunge. Several large oil producers, including ConocoPhillips and Apache Corp, have set lower capital spending budgets for 2015, rattled by a near...
Dec 10- Goodrich Petroleum Corp said it would explore strategic options for all or a part of its Eagle Ford shale assets in South Texas to boost liquidity, as oil prices fall. Several oil producers, including ConocoPhillips, Apache Corp and Halcon Resources have set lower budgets for 2015 due to a near 40 percent drop in global crude prices. Goodrich, which also has...
WILLISTON, N.D./ HOUSTON, Dec 5- U.S. energy firms are swiftly shifting drilling rigs away from less productive areas and hunkering down in sweet spots of North Dakota and Texas shale oil fields as they try to lift output and cut costs in response to the toughest crude market in years. Rig deployments or applications for new well permits fell by half in recent months...
HOUSTON, Nov 21- Energy companies have long touted to Wall Street investors the number of acres they lease or own as a measure of how many oil and gas shale wells they can potentially drill. Several smaller operators in the Permian Basin of Texas, including RSP Permian Inc, Laredo Petroleum Inc and Callon Petroleum Co, are telling investors there is more than meets...
Nov 20- Apache Corp slashed its capital budget for North America by a third as a sharp decline in oil prices over the past few months makes drilling less lucrative. A handful of companies, including Continental Resources Inc and Denbury Resources Inc have already cut spending plans and others are expected to follow suit. Apache said it expects to spend $4 billion...
Nov 20- Apache Corp said it would sell oil and gas assets in southern Louisiana and the Anadarko Basin, spanning western Oklahoma and the Texas panhandle, for about $1.4 billion in two separate deals.
NEW YORK, Nov 14- Talks that could lead to oilfield services provider Halliburton Co buying rival Baker Hughes Inc may herald increased deal-making in the energy business as companies bet on a protracted drop in oil prices, industry bankers said. The Baker Hughes/ Halliburton talks have stalled after the companies weren't able to agree on issues including...
Stocks could continue to tilt higher, as traders focus on U.S. jobless claims data and productivity and labor costs ahead of the Oct. jobs report.
Stocks are up despite weak market internals. Much of the Dow's gain is due to Visa and utilities are leading the S&P 500.
As the market dropped on Wednesday, Jim Cramer thinks this could be an entry point opportunity to buy stocks for those who missed the market bottom.
None of the major hedge funds that owned the battered U.S. energy stocks indicated having sold them
It's been a whipsaw day on Wall Street with traders trying to buy market bottoms.
Stocks failed to hold gains after a strong rally, as oil's late-day plunge overshadowed the bounce in tech, transports and industrials.
MINNEAPOLIS, Sept 18- A string of missteps at a $10 billion Angolan liquefied natural gas venture has hurt Chevron Corp's reputation as a top-notch operator of profitable energy projects around the world.
*Mitsui's iron ore ops profitable even if prices fall 20-30 pct. TOKYO, Sept 10- Japanese trading house Mitsui& Co may miss the current year's profit target of $1.1 billion for its metals business due to the slump in iron ore, warned a senior executive, who said prices may fall to as low as $80 a tonne before rebounding.
SINGAPORE/ TOKYO, Sept 5- Tests on samples of the same type of U.S. condensate now heading to South Korea and Japan have raised questions about the ultra-light crude's suitability for use in Asia, sources said, making some potential buyers wary about taking the oil.
Cramer likes to review the S&P 500’s Daily Action Charts in an effort to find stocks that could work higher.
Chevron reported second-quarter earnings on Thursday that beat Wall Street's expectations.