HOUSTON _ Baker Hughes Inc. on Tuesday reported a loss of $129 million in its first quarter. The average estimate of 11 analysts surveyed by Zacks Investment Research was for a loss of 21 cents per share. Seven analysts surveyed by Zacks expected $2.28 billion.
Houston oilfield services company Baker Hughes Inc. said Friday that 688 rigs sought oil and 167 explored for natural gas this week. Texas added six rigs and Alaska, Colorado, North Dakota, Pennsylvania and Wyoming each gained one. Arkansas, California, Kansas, Louisiana, New Mexico, Ohio, Utah and West Virginia were unchanged.
Some of the names on the move ahead of the open.
Houston oilfield services company Baker Hughes Inc. said Thursday that 683 rigs sought oil and 162 explored for natural gas this week. New Mexico added seven rigs, Oklahoma gained three, Texas increased by two, and California, North Dakota and Ohio each gained one. Arkansas, Colorado, Kansas, Pennsylvania, Utah, West Virginia, and Wyoming were all unchanged.
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Oil prices fell as investors made record cuts to bets on rising prices after US drilling data fed concerns about the effectiveness of OPEC-led production cuts.
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Oil hovered around three-month lows on Monday, as rising U.S. inventories and drilling activity offset OPEC's efforts to restrict output.
Oil prices rose after news that OPEC members' initial compliance with last year's landmark production cut deal reached a record high.
After more than a decade of stock underperformance, investors and analysts are ready for a turnaround — and GE continues to promise one.
Oil and gas mergers, acquisitions and IPOs surged in the second half as crude prices stabilized, PwC reports.
Shares of General Electric edged lower after the company reported mixed earnings results.
The pain in the U.S. energy sector — the biggest job cutter in both 2015 and 2016 — appears to be easing, according to recent data.
Oil fell below $55 as higher Libyan output threatened to counter some of the supply cuts planned by OPEC.
The oil market is waiting to see whether U.S. production from shale fields will grow enough to offset planned output cuts by OPEC.
Oil prices were stable as evidence increased that producers in the Middle East were informing customers of upcoming supply cuts.
The stock market is "pretty savvy" about discounting the likelihood of major events, investment banking co-head John Waldron tells CNBC.
OPEC's deal and Trump's election are boosting oil prices. These stocks should be big beneficiaries, says Andy Lipow.
Oklahoma City-based Devon Energy, for one, leaped more than 13.5 percent in morning trade.
Prime Minister Haider al-Abadi told reporters Iraq is willing to cut its crude oil output as part of OPEC's plan to reduce global supply.