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Tag Archives: ConocoPhillips

U.S. approves landmark crude oil export swaps with Mexico

WASHINGTON – The Obama administration will allow limited sales of U.S. crude to Mexico for the first time, a senior administration official told Reuters, marking another milestone in loosening a contentious ban on exporting domestic oil. The Commerce Department is “acting favorably on a number of applications” to export U.S. crude in exchange for imported Mexican oil, the official said. ...

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Losses elsewhere, but profits in Alaska, reports ConocoPhillips

JUNEAU — ConocoPhillips reported losing $179 million in the quarter that ended June 30, compared to profits of $2.1 billion in the same quarter last year. But its Alaska operations, reported separately Thursday, remained profitable even while oil prices plunged over the last year. The company is closely watched as the largest producer of oil in Alaska, as well as ...

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Energy company paying to move hiking, horse-riding trails

KILLDEER, N.D. — The energy company that developed the biggest drilling unit in western North Dakota’s Bakken oil patch says it will move some hiking and horse-riding trails away from its operations. ConocoPhillips created the 47-square-mile Corral Creek Unit in 2011. It has now pledged $100,000 to move two trails in the Little Missouri State Park area away from an ...

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Chesapeake Energy suspends dividend payments

Chesapeake Energy Corp, the second-largest U.S. natural gas producer, said on Tuesday it will suspend dividend payments starting in the current quarter to save up to $240 million a year. The company, which like other oil and gas producers has been hurt by a drop in prices, had planned to pay an annual dividend of 35 cents per share. Analysts ...

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Court considers drilling moratorium

Environmentalists and oil industry representatives faced off in federal court on Monday over oil drilling in the Man-cos Shale near Chaco Culture National Historical Park in northwestern New Mexico. A group of environmental organizations filed suit last March to force the U.S. Bureau of Land Management to conduct a new environmental impact study on the effects of oil production in ...

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Cowboyistan: Harold Hamm’s hope of crude oil exports

Continental Resources CEO sees oil rising to $60 by year end

“Cowboyistan” could produce more than enough petroleum to justify the exporting of light, sweet crude, according to Continental Resources CEO and oil mogul Harold Hamm. Earlier this week, the U.S. Energy Information Administration’s 2015 Energy Conference was held in Washington, D.C. Hamm was one of the numerous speakers and promoters there to voice the reasoning behind exporting American-produced petroleum, according ...

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Guesswork, inconsistency nag U.S. shale oil accounting

HOUSTON/NEW YORK – Steep downward revisions to oil and gas reserves at the end of this year are likely to increase scrutiny of how energy companies tally future barrels – a process that has become more opaque with the rise of shale drilling. The revisions due in December will reflect a deep plunge in crude prices and should not come ...

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Gov. Walker strengthens ties with oil industry in Slope tour

DEADHORSE — Known for having an adversarial relationship with the oil industry as a private attorney, Bill Walker made his first trip as governor to the state’s North Slope oil fields this week, taking a three-day tour of the widespread facilities and at times discussing prickly issues with oil officials. Production taxes came up, as did the massive Alaska LNG ...

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Plunge in oil prices forces re-evaluation of projects, costs

KUALA LUMPUR – A 40 percent drop in oil prices over the last year has shaken up the energy sector, forcing companies to re-evaluate projects worth billions of dollars and sift through balance sheets to cut costs, executives said this week at a conference in Malaysia. Companies are also looking at forming alliances to reduce risk as they ride out ...

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