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.
Exco Resources Inc. said Chairman and Chief Executive Officer Douglas H. Miller, who made an unsuccessful buyout bid for the Dallas-based natural-gas producer two years ago, resigned yesterday.
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.
The Energy Information Administration slashed its estimate of recoverable reserves from California’s Monterey Shale by 96 percent, saying oil from the largest U.S. formation will be harder to extract than previously anticipated.
The new California crude explorer planned by Occidental Petroleum Corp. will emerge as the leading player in the state’s drive to dominate the U.S. oil boom.
"Theoretically it can continue forever."
- Leo Mariani on Jun 26, 2014
Mariani Sees U.S. Economy Helping Set Oil Prices