- Reuters•1 hour ago
Investors reeling from several quarters of declines from U.S. energy companies are optimistic that a recent oil rebound may help boost results of exploration and production companies reporting in the coming days. After a nearly two-year slide in crude, higher oil prices may lead to higher production this year and in 2017, investors believe. U.S. oil prices, trading around $42 a barrel, are back at April levels after jumping 26.1 percent in the second quarter, their best quarterly gain since 2009.
- Reuters•15 hours ago
Hess Corp said on Wednesday it was pursuing legal action against Schlumberger NV for $40 million or more, claiming the oilfield service provider supplied a defective valve for a U.S. Gulf of Mexico oilfield that shuttered three wells and crimped production. Hess took the unusual step of announcing the move on its quarterly earnings conference call, publicly mentioning Schlumberger and decrying the quality of service and parts provided. Oil producers such as Hess have been battling with Schlumberger and other oilfield service providers over price and other financial matters at a time when depressed crude prices have eroded profits for the entire industry.
Pre-Market: 102.300.04 (0.04%) as of 7:08 AM EDT
|Bid||101.40 x 200|
|Ask||102.30 x 200|
|52wk Range||69.58 - 107.58|
|Day's Range||101.81 - 103.32|
|Avg Vol (3m)||6,591,026|
As of 4:00 PM EDT. Market closed.