The Oil Daily articles from February 2009

The Oil Daily archives from February 2009

Exxon hits tipping point as earnings peak.(Exxon Mobil Corp.)(Financial report)
February 2, 2009... Supermajor Exxon Mobil posted net income of $45.2 billion for 2008, the highest annual income ever earned by a US company. But Exxon's fourth-quarter net income dropped 33% as lower oil and gas prices weathered away earnings, setting the stage...

Refining, gain on asset swap boost Chevron.(Financial report)
February 2, 2009... Chevron, the second-largest US oil company, said Friday its fourth quarter profit rose slightly to $4.9 billion as a gain from an asset swap and strong refining margins offset lower oil prices and production. Income took a hit in the...

Wind sector sets new record in 2008 but sees tough times ahead.
February 2, 2009... The US wind energy industry set a new record in 2008 by installing 8,358 megawatts (MW) of new generating capacity but it is now warning of an uncertain outlook for 2009 due to the continuing financial crisis. The American Wind Energy...

Crude fluctuates in $40s amid inundation of bleak economic news.
February 2, 2009... Crude futures seesawed in the mid-to-low $40s last week, finishing on a positive note Friday because of higher product prices, a result of the possibility of a strike that could hit two-thirds of US refining capacity (OD Jan.30,p1). Since...

Daily oil & gas price review.(Statistical table)
February 2, 2009... Daily Oil & Gas Price Review Prices for Friday, January 30, 2009 North American Crudes ($/barrel) Cash/Spot Change Spot Price 5-Day Avg. Month-Ago WTS (Midland) -0.12 40.32 41.29 37.85 LLS (St....

Opec cuts trigger scramble for sour crude as appetites grow for heavier sweet grades.(Organization of the Petroleum Exporting Countries)
February 2, 2009... Opec output cuts are starting to bite and are driving up the relative value of sour crudes, the dominant grade in Opec member countries, US spot crude traders said on Friday. Traders in the US domestic spot market are bidding up the price...

Baker Hughes drilling report.(Statistical data)
February 2, 2009... Rig Count Falls by 43 The number of drilling rigs searching for oil and gas in the US fell by 43 last week to 1,472, Baker Hughes said. During the same week last year, there were 1,763 rigs at work. The number of rigs searching for oil...

Stimulus bill leads to supersized spending on some energy programs.
February 2, 2009... The energy portion of the mammoth $819 billion economic stimulus package passed by the House of Representatives last week includes more than $90 billion for energy programs and energy-related tax incentives. Some energy programs will be...

Gas futures continue to fall as industrial demand evaporates.(Statistical data)
February 2, 2009... After Nymex February gas expired at lows not seen since 2006, March natural gas futures continued the downward spiral last week as layoffs and factory closures ate further away at industrial demand, which accounts for almost a third of US gas...

Emerald wins Colombia contract.(Emerald Energy Corp.)(Brief article)
February 2, 2009... Emerald Energy said it has been awarded a new exploration and production contract in Colombia. The Durillo contract, in which Emerald has a 100% working interest, covers an area of 110 square kilometers and is located in the Caguan Putumayo...

UK workers strike to protest employment of foreigners at refinery.
February 2, 2009... Hundreds of workers went on strike across the UK on Friday in a show of solidarity with staff protesting the use of foreign workers at the Lindsey refinery in northern England. Contract workers launched wildcat strikes at more than seven...

Europe may tighten fuel standards as 10 nations face prosecution.
February 2, 2009... The European Commission plans to prosecute 10 European countries for breaking air pollution laws in a move that could lead to tighter fuel quality specifications. All but two of the European Union's 27 members failed to meet air quality...

Japan's crude imports fall.(Brief article)
February 2, 2009... Japan imported 4.17 million b/d of crude oil in December, down 6.5% versus the same month of 2007, according to official data released Friday For the entire year, Japan's crude imports rose 1.6% to 4.18 million b/d, compared with 2007. ...

US refinery strike looms.(Top Briefs)(Brief article)
February 2, 2009... Some 30,000 US refinery workers were preparing on Friday to launch a strike that could affect about half the nation's oil refining capacity and boost pump prices. Nearly 10% of US refining capacity could be idled within days if union...

Shell gets tough on costs.(Corporate News)(Royal Dutch-Shell PLC)(Brief article)
February 2, 2009... Supermajor Royal Dutch Shell has intensified its cost-cutting efforts in response to the collapse in oil prices and also plans to step up efforts to improve what it said was a "mixed" safety record. Shell's head of Exploration and...

Newfield reserves up 18%.(Exploration & Production)(Newfield Exploration Co.)(Brief article)
February 2, 2009... Newfield Exploration said its year-end 2008 proved reserves amounted to 2.95 trillion cubic feet of gas equivalent, an increase of 18% compared with year-end 2007. Newfield said it replaced nearly 300% of its 2008 production with new...

Stock market scorecard.(Statistical table)
February 2, 2009... Stock Market Scorecard Integrated Close 1-Day % Chg. Majors 1/30 Chg. % Chg. 10-Day 52-Wk YTD ConocoPhillips 47.53 +0.37 +0.78% -1.92% -37.80% -8.24% BP ...

Novatek plans Total JV.(International)(joint venture)(Brief article)
February 2, 2009... Novatek, Russia's biggest independent gas producer, may set up a gas exploration and production joint venture with Total, which failed to win a stake in Novatek four years ago. "We are negotiating with Total on joint work," Novatek Chief...

Gazprom grabs Yamal field.(International)(Gazprombank)(Brief article)
February 2, 2009... Russian metals magnate Alisher Usmanov has sold 75% of one of Russia's biggest gas fields to Gazprombank, increasing the Gazprom banking subsidiary's stake to 100%, the Russian business daily Vedomosti reported Friday. Usmanov reportedly...

Range sticks to Somalia plan.(International)(Africa Oil)(dialogue with Pete Landau)(Interview)(Brief article)
February 2, 2009... Australia's Range Resources and Canadian partner Africa Oil aim to drill a first exploration well in Somalia's Puntland region in June. Range Executive Director Pete Landau told Oil Daily from Abu Dhabi that discussions were also under way with...

Statoil makes North Sea oil find.(International)(StatoilHydro)(Brief article)
February 2, 2009... StatoilHydro has made a small oil find in its Curran prospect in the Oseberg area of Norway's sector of the North Sea, 140 km west of Bergen and 7 km south of Tune. The Norwegian Petroleum Directorate said Friday that Statoil drilled...

Petrobras resumes drilling.(Latin America)(Petroleo Brasileiro S.A.)(Brief article)
February 2, 2009... Brazilian state-run energy giant Petrobras resumed drilling last week in a promising subsalt exploration block in the Santos Basin, according to the country's National Petroleum Agency (ANP). The Ocean Clipper rig started drilling in the...

Koreans may sue Nigeria over deepwater Blocks.(Korea National Oil Corp.)
February 2, 2009... Korea National Oil Corp. (KNOC) says it may sue the Nigerian government after Abuja withdrew its exploration rights to deepwater Blocks OPL 321 and OPL 323, claiming KNOC had failed to pay signature bonuses in full. "The South Korean...

Anadarko makes another oil find in US Gulf.(Anadarko Petroleum Corp.)
February 3, 2009... Anadarko Petroleum said it has made a substantial oil discovery at its Heidelberg prospect in the deepwater Gulf of Mexico, some 200 miles southwest of New Orleans, Louisiana. The discovery well struck more than 200 feet of net oil pay in...

Bolivia: corruption charges fell YPFB chief.(Yacimientos Petroliferos Fiscales de Bolivia)(Case overview)
February 3, 2009... The head of Bolivia's state energy company was fired on Sunday amid allegations of corruption, adding to mounting difficulties that the government faces in its campaign to give the state a larger role in hydrocarbon production. Santos...

Weak euro weighs on European oil and gas stocks in January.
February 3, 2009... A weakened euro relative to the US dollar weighed on European integrated oil share prices in January as most companies underperformed the broader stock market. After a strong December, the FT World index gave back those gains last month by...

Crude futures tumble on economic woes, sell-off in gasoline.(Brief article)
February 3, 2009... New York Mercantile Exchange (Nymex) crude futures temporarily fell below $40 per barrel on Monday, and although they recovered later, futures still ended the session lower. The market has been able to hold up in the $40s so far, but some...

Daily oil & gas price review.(Statistical table)
February 3, 2009... Daily Oil & Gas Price Review Prices for Monday, February 2, 2009 North American Crudes ($/barrel) Cash/Spot Change Spot Price 5-Day Avg. Month-Ago WTS (Midland) -0.07 40.25 40.45 44.96 LLS (St....

Delays stack up at LNG liquefaction projects around the world.(liquefied natural gas)
February 3, 2009... Further delays at LNG projects around the world are pushing the long-expected tidal wave of new LNG exports back from this winter toward the summer--or even next fall. The 7.8 million ton per year (1 billion cubic foot per day) Qatargas-2...

Heating degree days.(Statistical table)
February 3, 2009... Heating Degree Days For the week of January 31, 2009 Week Dev Cum Dev From From From Week From Year Cum From...

Indian oil imports crash.(Brief article)
February 3, 2009... India's crude oil imports slid 40% from year-earlier levels to 6.85 million tons in December as some state-run refineries shut down for maintenance. State refiners' imports crashed 60.3% to 2.98 million tons, while imports by privately...

Alaska eager to build pipeline to deliver gas to Anchorage area.
February 3, 2009... Alaska appears to have its heart set on building an intrastate natural gas pipeline to transport supplies from the resource-rich North Slope to populous areas in the Cook Inlet around Anchorage. Although the idea of an in-state gas line has...

Royal Dutch Shell inks gas cooperation agreement with Bahrain.
February 3, 2009... Royal Dutch Shell on Monday inked an agreement with Bahrain to look at gas import schemes designed to meet Bahrain's future needs. The accord marks another step in the Anglo-Dutch supermajor's strategy of positioning itself as the Mideast's...

Progress in US refinery talks.(Top Briefs)(Brief article)
February 3, 2009... Talks for a new contract covering 24,000 US refinery and chemical plant workers were "making good progress," a United Steelworkers union spokeswoman said on Monday. "I think we're much closer than we were two days ago," USW spokeswoman...

Repsol unveils cost-saving plan.(Corporate News)(Brief article)
February 3, 2009... Spain's Repsol YPF is seeking cost savings of [euro]1.5 billion ($1.93 billion) this year in response to the global economic crisis. The plan, disclosed in a letter sent by Chief Executive Antonio Brufau to Repsol's 37,600 employees on...

Reid, Pickens seek better grid.(Electricity)(Harry Reid)(T. Boone Pickens)(Brief article)
February 3, 2009... US Senate Majority Leader Harry Reid and billionaire investor T. Boone Pickens have announced an initiative to build political support to modernize the US electricity grid and move the country away from its continued dependence on imported...

Denbury reserves rise.(Exploration & Production)(Denbury Resources Inc.)(Brief article)
February 3, 2009... Denbury Resources posted a 29% rise in its proved oil and natural gas reserves last year, but it expects a 4% fall in its average daily production rate for the fourth quarter. The company said its total proved reserves as of Dec. 31, 2008,...

Mariner scores in US Gulf.(Exploration & Production)(Mariner Energy Inc.)(Gulf of Mexico)(Brief article)
February 3, 2009... Mariner Energy said it participated in three recent discoveries in the US Gulf of Mexico. The company said it logged more than 200 feet of net gas pay in multiple zones at its Smoothie No. 2 well, a deep shelf prospect, in 60 feet of...

Alaska output falls in January.(Exploration & Production)(Brief article)
February 3, 2009... Alaskan crude oil production fell by about 28,000 b/d in January compared to both December and January 2008, as the result of weather problems in the first week of the month that caused delays in tanker loadings at the port of Valdez. ...

Stock market scorecard.(Statistical table)
February 3, 2009... Stock Market Scorecard Integrated Close 1-Day % Chg. Majors 2/2 Chg. % Chg. 10-Day 52-Wk YTD Eni 42.86 +0.47 +1.11% -4.27% -32.71% -10.37% Total ...

TNK-BP eyes Verkhnechonsk.(International)(East Siberian Gas Co.)(Brief article)
February 3, 2009... TNK-BP wants to increase its stake in the Verkhnechonskoye oil and gas field in East Siberia by buying a 5.48% stake in field operator Verkhnechonskneftegas from East Siberian Gas Co. (ESGC), a 50-50 venture between TNK-BP and the local Irkutsk...

Ecuador threatens Repsol.(Latin America)(Repsol Exploracion S.A.)(Brief article)
February 3, 2009... Ecuador's President Rafael Correa on Saturday threatened to expel Repsol unless the Spanish oil company drops a lawsuit against the Andean country over a tax dispute. The popular leftist president has repeatedly threatened to expel Repsol,...

Iran grants credit to Ecuador.(Latin America)(Petroleos del Ecuador)(Interview)(Brief article)
February 3, 2009... Iran plans to finance and construct a $42 million, 50 megawatt electricity generation plant in Ecuador that will provide power to oil field operations, Petroecuador President Luis Jaramillo said Friday. In an interview with Dow Jones...

Petrobras may cut spending.(Latin America)(Petroleo Brasileiro S.A.)(Brief article)
February 3, 2009... Brazilian oil company Petrobras said it is ready to cut investment plans or raise funds from sources it previously considered unattractive if it has difficulty in meeting its cash needs next year. Chief Executive Jose Sergio Gabrielli said...

Eni picks Sevan FPSO design.(Offshore)(Sevan Marine)(floating, production, storage and offloading)(Brief article)
February 3, 2009... Italy's Eni and Norway's StatoilHydro have chosen Sevan Marine's floating, production, storage and offloading (FPSO) concept--known as Sevan FPSO 1000-for their Goliat development, beating a proposal from rival Norwegian contractor Aker...

J. Ray awarded Pemex contract.(J. Ray Construction Co.)(Petroleos Mexicanos)(Brief article)
February 3, 2009... J. Ray said it has been awarded a $40 million contract by Mexico's Pemex for two drilling platforms in the Bay of Campeche, Mexico. The contract consists of transportation and installation of the Ixtal-B and the Maloob-C platforms which...

DME contracts move to CME.(Oil & Gas Markets)(Dubai Mercantile Exchange)(Chicago Mercantile Exchange)(Brief article)
February 3, 2009... The Dubai Mercantile Exchange (DME) says it completed migration of its Oman crude oil futures contract and Oman crude oil financial contract to the Chicago Mercantile Exchange's (CME) Globex platform on Monday. The migration will allow traders...

Halliburton wins BP Angola deal.(Oil Field Service)(BP Exploration (Angola) Ltd.)(Brief article)
February 3, 2009... Halliburton has been awarded a deal by BP Angola that is expected to exceed 150 wells and cost more than $600 million. The long-term contracts covers up to four developments and is to be based on a standardized design. Drilling activity is...

UK strike over foreign workers escalates.
February 3, 2009... UK protests over the use of foreign labor spread Monday as nuclear power contractors joined over 3,000 oil and gas workers who have staged unofficial strikes in support of workers at Total's Lindsey oil refinery. Energy supplies have not...

Exxon shuts Baton Rouge FCC.(Refining)(fluidic catalytic cracker)(Brief article)
February 3, 2009... Exxon Mobil said on Monday the 120,000 b/d fluidic catalytic cracker No. 3 was shut on Thursday at its 503,000 b/d Baton Rouge, Louisiana, refinery as part of a planned overhaul expected to last about 53 days. Exxon Baton Rouge spokesman...

Democrats promise climate law this year.
February 4, 2009... Senate Democrats on Tuesday pledged to pass a national cap-and-trade law in 2009 and outlined several strategies to make greenhouse gas emissions targets enforceable at the national and global levels. Members of the Senate Environment and...

Marathon scraps plan to split itself in two.(Financial report)
February 4, 2009... Marathon Oil reported a $41 million (6 cents/share) loss for the fourth quarter of 2008 as a result of $1.4 billion in non-cash write-downs. The Houston-based integrated oil firm also announced that it is scrapping plans to split itself up into...

House resumes debate over oil speculation after price collapse.
February 4, 2009... A House panel on Tuesday resumed debate on legislation that seeks to curb excessive speculation in commodities markets. The bill has a better chance to become law this year after Democrats increased their majority in both chambers of...

Crude Futures post modest gain as traders await inventory data.(Brief article)
February 4, 2009... Crude prices moved slightly higher on Tuesday as traders awaited the outcome of refinery labor negotiations and weekly inventory data. "It was more of the same, Nymex crude still being range bound between $40 and $47 and trading a little...

Daily oil & gas price review.(Statistical table)
February 4, 2009... Daily Oil & Gas Price Review Prices for Tuesday, February 3, 2009 North American Crudes ($/barrel) Cash/Spot Change Spot Price 5-Day Avg. Month-Ago WTS (Midland) -0.36 39.89 40.33 46.31 LLS (St....

Writedowns on Russian holdings hit BP's fourth-quarter earnings.(Financial report)
February 4, 2009... Turmoil in Russia, lower oil prices and unusually volatile currency movements all had a negative impact on BP's fourth-quarter results, but the UK supermajor still reported record profits for 2008 on Tuesday. BP made a writedown of $517...

Gain on asset sale boosts Anadarko, firm made big finds in 2008.(Anadarko Petroleum Corp.)(Financial report)
February 4, 2009... Anadarko Petroleum reported a nearly three-fold increase in fourth-quarter net income, helped by $750 million in one-time gains from the sale of assets offshore Brazil and hedging gains. Net income rose to $824 million ($1.79/share) from...

Union and Shell Oil agree basic contract, averting threat of strike at US refineries.(United Steelworkers of America)
February 4, 2009... The United Steelworkers (USW) union and Shell Oil agreed to a basic contract for US refineries and chemical plants on Tuesday, averting a possible nationwide strike by 30,000 refinery workers, according to the union. The new national...

XTO reduces capital spending, resets hedges.
February 4, 2009... XTO Energy has revised its 2009 development budget to $2.75 billion, a 16.7% decrease from the previously announced $3.3 billion. The company has also cut planned spending on midstream infrastructure to $450 million, down from $500 million. ...

Consultancy says Chinese demand growth set to continue this year.
February 4, 2009... China's oil demand is projected to grow by between 350,000 and 380,000 barrels per day this year, which could offset a drop in US demand, according to consultancy FACTS Global Energy. FACTS Chairman Fereidun Fesharaki said in a presentation...

Wal-Mart tests hybrid trucks.(Alternatives)(Brief article)
February 4, 2009... Wal-Mart Stores said it will test two types of heavy-duty commercial hybrid trucks and two types of heavy-duty trucks that run on alternative fuels as part of the company's program to build a more sustainable trucking fleet. The vehicles...

US ethanol capacity idled.(Alternatives)(Brief article)
February 4, 2009... US ethanol producer and grain processor Archer Daniels Midland (ADM) said on Tuesday that nearly 21% of US ethanol production capacity has been shut due to weak demand and poor margins. US ethanol plants with a production capacity of 10.2...

Markey firm on auto emissions.(Environment)(Edward Markey)(Brief article)
February 4, 2009... A senior US lawmaker said on Tuesday he believes US automakers could meet the strict efficiency requirements of a pending California emissions law, if it is imposed. Rep. Edward Markey, a Massachusetts Democrat and chairman of the select...

Forest Oil reserves rise.(Exploration & Production)(Brief article)
February 4, 2009... Forest Oil ended 2008 with a record 2,668 Bcfe of proved reserves, despite downward price revisions of 212 Bcfe. This is a 26% increase over reserves of 2,119 Bcfe at the end of 2007. "Forest's investment results for 2008 were very solid...

Brigham scores in Bakken.(Exploration & Production)(Brigham Exploration Co.)(Brief article)
February 4, 2009... Brigham Exploration has successfully completed its Olson 10-15 No. 1H well in the Bakken formation of North Dakota at an initial production rate of 1,200 b/d of oil and 1.4 MMcf/d of gas. Brigham owns a 100% working interest and an 80%...

Petrohawk updates operations.(Exploration & Production)(Brief article)
February 4, 2009... Petrohawk Energy said it drilled 218 wells during the fourth quarter of 2008, with a 98% success rate. On average, 32 operated rigs and 15 non-operated rigs were running during the quarter, including a combination of spudder rigs and horizontal...

Stock market scorecard.(NEWS ALERT)(Statistical table)
February 4, 2009... Stock Market Scorecard Integrated Close 1-Day % Chg. Majors 3/3 Chg. % Chg. 10-Day 52-Wk YTD Petro-Canada 22.41 +0.93 +4.33% -5.60% -50.86% +2.38% Statoil ...

Aramco wins cost reduction.(International)(Saudi Arabian Oil Co.)(Brief article)
February 4, 2009... Saudi Aramco has succeeded in securing a 15% cost reduction on two core packages for its Karan gas development, industry sources tell Oil Daily. Aramco delayed awarding construction contracts for oil and gas projects, including Karan, to take...

Russian output dips in January.(International)(Brief article)(Statistical data)
February 4, 2009... Russian crude and gas condensate production amounted to 9.696 million barrels per day (41.007 million metric tons) in January, a drop of 0.9% from a year ago and 0.6% less than the previous month, according to preliminary data issued by...

Lukoil gets ice breaker.(International)(Brief article)
February 4, 2009... Russian independent producer Lukoil announced Tuesday that it had taken delivery of a new multifunctional ice-breaker, the Varandey, designed to work at the Barents Sea Varandey terminal. The 4,643 deadweight ton ice-breaker was constructed...

API: higher oil taxes bad idea.(Legislation/Regulation)(American Petroleum Institute)(Brief article)
February 4, 2009... If the government were to slap windfall profit taxes on US oil companies, those firms would likely redirect investments overseas, cut jobs, and lower US oil output by about a quarter over the next 20 years, according to a study commissioned by...

CME operating income rises.(Oil & Gas Markets)(Chicago Mercantile Exchange)(Financial report)(Brief article)
February 4, 2009... CME Group, which includes the New York Mercantile Exchange (Nymex) and the Chicago Mercantile Exchange (CME), on Tuesday reported $418 million in operating income for the fourth quarter of 2008, a rise of 33% versus the same period of 2007....

Year-end price revisions hammer Devon.(Devon Energy Corp.)
February 5, 2009... Devon Energy reported a loss of $6.8 billion ($15.42/share) for the fourth quarter of 2008 as it took a $7.1 billion non-cash writedown on the value of its oil and gas properties to reflect the sharp reduction in year-end commodity prices. ...

Global oil demand starts New Year in decline.
February 5, 2009... Demand for oil continues to reflect a global economy teetering on the brink of collapse. The New Year has begun a lot like last year ended: with massive declines in oil demand in OECD countries and an erosion of growth in the non-OECD. Serious...

US embarks on long-haul effort to pass climate change legislation.
February 5, 2009... John Bruton, the European Commission's Ambassador to the US, has commended members of Congress for their new found focus on climate change. Bruton promised to work closely with legislators as he highlighted the hard work that lies ahead before...

Nymex crude futures close lower on huge rise in inventories.
February 5, 2009... New York crude futures remained in positive territory for most of Wednesday but eventually closed lower. Crude traded up to a high of $41.92 per barrel, the result of strong technical support, an early rally in the equity markets and the belief...

Daily oil & gas price review.(Statistical table)
February 5, 2009... Daily Oil & Gas Price Review Prices for Wednesday, February 4, 2009 North American Crudes ($/barrel) Cash/Spot Change Spot Price 5-Day Avg. Month-Ago WTS (Midland) -0.67 39.22 40.02 46.55 LLS (St....

EIA weekly statistics.(Statistical table)
February 5, 2009... EIA Weekly Statistics For Week Ended January 30, 2009 US Crude Oil: Stocks (1) (millions of bbl) Current Previous Week Week Chg. PADD 1 14.1 14.2 -0.7% PADD 2 ...

Survey points to tough times ahead for UK North Sea.
February 5, 2009... The majority of UK North Sea operators are preparing to cut jobs in 2009, but expect heavier losses in 2010, signaling tough times ahead for regional players and an increasingly uncertain future for international oil service companies. The...

Hedge fund manager backs tighter regulation of commodity markets.(Michael Masters)
February 5, 2009... The hedge fund manager who played a starring role in Democrats' push to crack down on excessive speculation in commodities markets last year was back on Capitol Hill Wednesday (OD Feb.4,p2). Michael Masters, portfolio manager of Masters...

BHP Billiton still likes oil and gas business despite price slump.
February 5, 2009... The head of BHP Billiton, Australia's largest oil and gas producer, said Wednesday that the $100 fall in the price of oil over the last six months has not deterred the natural resources giant from continued investment in the petroleum sector....

Blocks dropped from Utah sale.(Top Briefs)(Brief article)
February 5, 2009... Interior Secretary Ken Salazar has retroactively withdrawn 77 parcels of federal land in Utah from an oil and gas lease sale that was held in December. The move could turn out to be an early signal of how the Obama administration will handle...

Pioneer posts loss.(Earnings)(Pioneer Natural Resources Co.)(Financial report)(Brief article)
February 5, 2009... Pioneer Natural Resources posted a net loss of $65 million (57 cents/share) for the fourth quarter of 2008, compared with net income of $205 million ($1.72/share) in the same period of 2007. After stripping out unusual items, adjusted earnings...

Anadarko scores again in US Gulf.(Exploration & Production)(Anadarko Petroleum Corp.)(Brief article)
February 5, 2009... Anadarko Petroleum said it has made a substantial oil discovery at its Shenandoah well, the second deepwater Gulf of Mexico discovery it has announced this week (OD Feb.3,p1). "This has been a remarkable week, with back-to-back deepwater...