Crude oil production from U.S. wells is poised to approach a 42-year record next year as drillers ignore the recent decline in price pointing them in the opposite direction.
As the U.S. shale drilling boom floods the world’s biggest crude market with supply, explorers are at greater risk of a price collapse that would turn some investments into money losers.
As the U.S. shale drilling boom floods the world’s biggest crude market with supply, explorers are at greater risk of a price collapse that would turn some investments into money losers.
Chevron Corp., the second-largest U.S. energy producer by market value, said shrinking refining profit eroded gains from higher oil prices and the company’s biggest production increase since 2010.
Chevron Corp., the world’s second- largest energy company by market value, said net income fell for a second straight quarter as crude oil prices declined and output from the company’s wells dropped.
Exxon Mobil Corp., the world’s biggest energy company by market value, trailed analysts’ profit estimates by the most in more than a decade as returns from its fuel-making business plunged.
Chesapeake Energy Corp. CEO Aubrey McClendon will tout the company’s stock to Wall Street analysts and investors tomorrow as a board investigation of his personal finances enters its fifth month.
Slumping oil and natural-gas prices threaten to exacerbate a cash crunch at Chesapeake Energy Corp., adding to pressure on Chief Executive Officer Aubrey McClendon to sell oilfields from Texas to Ohio.
Chesapeake Energy Corp. named former ConocoPhillips Chairman Archie Dunham to lead its board as the second-largest U.S. natural-gas producer struggles with falling energy prices and mistrust of its management.
Chesapeake Energy Corp. must sell at least $7 billion in assets this year to avoid a credit downgrade and a breach of debt covenants, Moody’s Investors Service said.
