Keith Morris News
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Centrica, the U.K.’s biggest residential natural gas supplier, agreed to buy $1.6 billion of fields in the Norwegian North Sea from Statoil ASA, increasing oil and gas production 25 percent.
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Xcite Energy Ltd. jumped the most in almost two months in London after a successful oil-well test at Bentley field.
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Kentz Corp., an Irish oil and gas engineering company whose customers include Exxon Mobil Corp. and Royal Dutch Shell Plc, rose to a record in London trading after winning a $2.3 billion contract in Australia.
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Wellstream Holdings Plc , a U.K. oilfield-services provider focused on Brazil, had its biggest ever gain in London trading after receiving a “number of preliminary approaches” from potential bidders.
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John Wood Group Plc , a U.K. oil and gas services company, agreed to pay $955 million for PSN Ltd. to create the world’s leading brownfield production services provider. Shares rose to a record close in London trading.
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Cape Plc , which supplies fire- protection, scaffolding and cleaners to energy companies, expects earnings to grow through 2015 after returning to profit last year. The shares rose the most in 17 months in London.
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BP Plc’s oil spill in the Gulf of Mexico will drive down rental prices for deep-sea drilling vessels by about 20 percent, analysts say, creating an oversupply of rigs as demand slows.
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