U.S. Oil Rig Count Climbs to 18-Month High

U.S. Oil Rig Count Climbs to 18-Month High

The number of oil rigs operating in the U.S. surged by 10 to 662, climbing for the 11th consecutive week to the strongest level since Sept. 4, 2015, according to data from energy services firm Baker Hughes (BHI), tracking the latest seven-day period ended March 31. In the U.S., the combined oil and gas rigs count climbed by 15 to 824, while gas rigs rose by five to 160. In […]

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SecureWorks Posts Fiscal Q4 Beat

SecureWorks Posts Fiscal Q4 Beat

SecureWorks reported pre-market Wednesday a net loss and revenues for fiscal Q4 that beat views compiled by Capital IQ but issued downside guidance for the full-year and for Q1 revenues. For Q4 ended Feb. 3, adjusted loss was $0.02 per share, narrowing from an adjusted loss of $0.13 per share a year earlier and beating the consensus for a loss of $0.06 a share. The provider of information security services […]

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TechnipFMC Wins Contract from Shell Unit

TechnipFMC Wins Contract from Shell Unit

Gas and oil services firm TechnipFMC said it has been awarded a contract by Shell Offshore Inc., a subsidiary of Royal Dutch Shell (RDS.A), for the delivery of the subsea production system (SPS) equipment for phase one of the Kaikias deep water project in the Gulf of Mexico. Kaikias is located approximately 130 miles from the Louisiana coast and is estimated to contain more than 100 million barrels of oil […]

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TransCanada Seals MOU with M2 Infrastructure

TransCanada Seals MOU with M2 Infrastructure

TransCanada Corp. said Wednesday it signed a memorandum of understanding with M2 Infrastructure to pursue the development of a new crude oil storage facility at TransCanada’s terminal in Cushing, Oklahoma. The energy infrastructure firm said the new crude oil storage facility is expected to hold 6.2 million barrels of crude oil and will be owned by M2 Infrastructure and operated by TransCanada. Construction of the oil storage facility is slated […]

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Stocks Stay Positive as Oil Reaches 15-Month High, Bank Earnings Beat Expectations

Stocks Stay Positive as Oil Reaches 15-Month High, Bank Earnings Beat Expectations

Stocks closed modestly higher for a second consecutive day, buoyed by a 15-month high in brent crude oil and positive quarterly earnings from the financial sector. Oil raced higher mid-morning on the combination of remarks from the Saudi oil minister regarding production cuts and an unexpected drop in inventory levels. As a result, West Texas intermediate gained 2.25% on the futures market, while brent was up 1.7%. The banking sector […]

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