Apache Corp., the largest independent U.S. oil company by market value, reported a first- quarter profit of $705 million on new production from Australian projects and higher crude prices.
A World Bank arbitration panel ordered Ecuador to pay Occidental Petroleum Corp., the largest onshore crude producer in the continental U.S., $1.77 billion to settle a contract dispute.
Apache Corp. appointed Rod Eichler to be chief executive officer of Kitimat, a proposed Canadian liquefied natural gas export facility, indicating the project may be moving forward.
McMoRan Exploration Co. has lost almost a third of its value in the last two days on investors’ concerns that its Davy Jones well in the Gulf of Mexico is a dud.
"It definitely works, but you might end up with 80 percent of the recoverable oil."
- Leo Mariani on Oct 21, 2014
Mariani Sees U.S. Economy Helping Set Oil Prices