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Oil and gas company founded by Aubrey McClendon to close

Aubrey McClendon

OKLAHOMA CITY (AP) — American Energy Partners, the Oklahoma City-based oil and natural gas company founded by the late energy tycoon Aubrey McClendon, is shutting down. The company’s leadership team released a statement Wednesday saying it had decided to wind down operations but the five independent companies it had launched wouldn’t be affected. McClendon co-founded Chesapeake Energy and served as ...

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After one merger called off in energy sector, another arises

energy sector, merger

NEW YORK (AP) — FMC Technologies will attempt a merger with Technip in an all-stock deal worth about $13 billion to create a larger player in the energy sector. The shareholders of each company would own about 50 percent of the combined company, which would be named TechnipFMC. It would have more than 49,000 employees operating in 45 countries. FMC ...

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Stocks edge higher in early morning ahead of Fed minutes

NEW YORK (AP) — Stocks shook off an early loss and are edging higher in morning trading Wednesday as investors wait for minutes from the Federal Reserve’s last policy meeting. They’ll be looking for any hints on whether the Fed will raise interest rates next month. Consumer goods retailers dropped after Target reported weak sales. KEEPING SCORE: The Dow Jones ...

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Range Resources buys Memorial Resource for $3.3 billion

NEW YORK (AP) — Range Resources will buy rival natural gas producer Memorial Resource Development for about $3.3 billion to expand its range in the East and in the Gulf. Shareholders of Memorial Resources, based in Houston, will receive 0.375 shares of Range Resources stock for each of their shares. The all-stock deal is valued at about $15.75 per share, ...

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Williams sues to maintain sale to Energy Transfer Equity

DALLAS (AP) — Williams Cos. has gone to court to pressure rival pipeline company Energy Transfer Equity to go through with the planned $32.6 billion purchase of Williams. In a lawsuit filed in state court in Delaware, Williams suggested that Energy Transfer is trying to get out of the deal. Energy Transfer’s spokeswoman did not immediately return phone and email ...

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Bristol Compressors to lay off about 120 employees

BRISTOL, Va. (AP) — Bristol Compressors says it plans to lay off about 120 employees as part of a restructuring plan. Local media outlets report the company made the announcement Monday. Bristol Compressors CEO Ed Gniewek said in a statement that the cutbacks are due to lower global oil prices and budget cuts by the oil producing governments. Workers have ...

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Koch group puts another $2.2 million into Ohio’s Senate race

WASHINGTON (AP) — Political groups backed by billionaires Charles and David Koch are spending $7.7 million on television and online advertising in the Ohio Senate race — part of a broader plan to focus on the Republican-led Senate instead of the presidential race. The latest wave of ads in the matchup between incumbent Republican Sen. Rob Portman and Democratic former Gov. ...

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Stocks lower in morning after sizable gains the day before

stocks

NEW YORK (AP) — Stocks are mostly falling Tuesday morning as investors sift through new economic reports and earnings results. Utilities, consumer goods companies and banks fell the most after the market made sizable gains the day before. Wal-Mart Stores and JPMorgan Chase each dropped 1 percent, among the biggest declines in the Dow Jones industrial average. KEEPING SCORE: The ...

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US stocks climb in broad rally as crude oil rises

stocks, oil prices, crude oil

NEW YORK (AP) — A jump in oil prices and some deal news helped send stocks up broadly Monday, breaking a three-day losing streak. Investors bought from the start of trading, pushing oil drillers and other energy stocks up sharply. A bullish oil report from Goldman Sachs helped send benchmark U.S. crude up 3.3 percent to its highest close in ...

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