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Apr 25, 2013

Oil production rises for Exxon, Conoco in first-quarter

HOUSTON (Reuters) – Quarterly results from Exxon Mobil Corp (XOM.N: Quote, Profile, Research, Stock Buzz) and ConocoPhillips (COP.N: Quote, Profile, Research, Stock Buzz) on Thursday showed that while overall growth remained elusive, output rose in key basins in the United States where the oil and gas companies are spending heavily to grow crude production.

North American shale basins and the Gulf of Mexico are seen as more secure places for energy companies to invest because they typically offer a steady source of growth. Conoco said in December that more than half of its nearly $16 billion budget for 2013 will be spent in North America.

Apr 25, 2013

U.S. oil production rises for Exxon, Conoco in Q1

HOUSTON, April 25 (Reuters) – Quarterly results from Exxon
Mobil Corp and ConocoPhillips on Thursday showed
that while overall growth remained elusive, output rose in key
basins in the United States where the oil and gas companies are
spending heavily to grow crude production.

North American shale basins and the Gulf of Mexico are seen
as more secure places for energy companies to invest because
they typically offer a steady source of growth. Conoco said in
December that more than half of its nearly $16 billion budget
for 2013 will be spent in North America.

Apr 24, 2013

Hess profit soars, lifted by higher prices, lower costs

April 24 (Reuters) – Hess Corp, under pressure from
investors to improve returns, reported a better-than-expected
first-quarter profit on Wednesday, helped by higher oil and
natural gas prices and lower costs.

Shares of Hess rose nearly 3 percent to $70.20 in midday New
York Stock Exchange trading.

Apr 19, 2013

Before Texas plant exploded: What did regulators know?

HOUSTON/NEW YORK, April 19 (Reuters) – Despite being located
within a short walk of a nursing home, school and residential
buildings, West Fertilizer Co in central Texas had no blast
walls and had filed no contingency plan to the Environmental
Protection Agency for a major explosion or fire at the site.

It remains unclear what safety measures, if any, were
required of the company or whether West Fertilizer failed to
comply. But on Wednesday night, the company’s fertilizer complex
in West, Texas – population, 2,600 – exploded with such force
that 60 to 80 homes were flattened, the school and nursing home
took heavy damage and at least 14 people were killed,
authorities said.

Apr 9, 2013

Texas college student wounds 14 in stabbing spree

HOUSTON (Reuters) – A male student went on a stabbing spree at a community college in northwest Houston on Tuesday, injuring at least 14 people, two of them critically, Harris County Sheriff Adrian Garcia said. The campus was sealed off.

Garcia said at a press conference that an emergency call came in at 11:12 a.m. local time: “Male on the loose stabbing people.”

Apr 1, 2013

Chesapeake Energy will be on budget this year: CEO

HOUSTON (Reuters) – Chesapeake Energy Corp (CHK.N: Quote, Profile, Research, Stock Buzz) is on track to stay within its budget for the year, Steve Dixon, the natural gas company’s newly appointed interim chief executive officer, said on Monday.

Dixon, seeking to reassure investors following the departure of CEO Aubrey McClendon, said on a conference call that he had “tremendous confidence” that Chesapeake’s spending would not exceed the company’s planned drilling budget of about $6 billion.

Mar 28, 2013

Exclusive: Chesapeake CEO search extends beyond deadline – source

HOUSTON (Reuters) – Chesapeake Energy Corp’s (CHK.N: Quote, Profile, Research, Stock Buzz) search for a new chief executive to replace Aubrey McClendon is likely to extend beyond an April 1 deadline, according to a person familiar with the situation.

McClendon is expected to step down on Monday even if a successor has not been named, leaving Chief Operating Officer Steve Dixon and Chairman Archie Dunham to lead the U.S. oil and gas company in the interim, the source said.

Mar 28, 2013

Chesapeake CEO search extends beyond deadline-source

HOUSTON, March 28 (Reuters) – Chesapeake Energy Corp’s
search for a new chief executive to replace Aubrey
McClendon is likely to extend beyond an April 1 deadline,
according to a person familiar with the situation.

McClendon is expected to step down on Monday even if a
successor has not been named, leaving Chief Operating Officer
Steve Dixon and Chairman Archie Dunham to lead the U.S. oil and
gas company in the interim, the source said.

Mar 13, 2013

SandRidge strikes deal that could lead to CEO’s removal

March 13 (Reuters) – SandRidge Energy Inc and
activist hedge fund TPG-Axon Capital struck a deal on Wednesday
that could lead to the removal of the oil and gas company’s
chief executive, Tom Ward, SandRidge said.

The company has been under fire since last year from
TPG-Axon and another hedge fund for governance lapses and
strategic missteps. TPG-Axon, which owns 7.3 percent of
SandRidge, launched a campaign to oust Ward and the company’s
entire board of directors.

Mar 1, 2013

SEC steps up probe of Chesapeake, CEO McClendon

March 1 (Reuters) – The U.S. Securities and Exchange
Commission has escalated its investigation into Chesapeake
Energy Corp and Chief Executive Aubrey McClendon for a
controversial perk that granted him a share in each of the
natural gas producer’s wells.

The investigation, disclosed on Friday by Chesapeake in an
SEC filing, comes nine days after it said an internal probe of
the well program and McClendon’s finances revealed no
“intentional” wrongdoing by the executive.

    • About Anna

      "I currently cover large U.S. oil and gas companies including Exxon Mobil and ConocoPhillips as part of the equities desk's Raw Materials Team. I am based in Houston, Texas."
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