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.
Newfield Exploration Co., the oil and natural gas producer that’s shifting its focus to U.S. operations, fell the most in three months after saying production may not grow this year.
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.
Apache Corp., the third-largest U.S. independent oil and natural-gas producer by market value, fell the most in more than seven months after quarterly profit trailed analysts’ estimates.
Occidental Petroleum Corp., the largest oil producer in the continental U.S., will split its operations in California into a separate publicly traded company in one of the final steps of a breakup plan.
"It definitely works, but you might end up with 80 percent of the recoverable oil."
- Leo Mariani on Oct 21, 2014