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US oil and natural gas rig count down 2 to 874

HOUSTON (AP) — Oilfield services company Baker Hughes Inc. says the number of rigs exploring for oil and natural gas in the U.S. declined by two this week to 874. Houston-based Baker Hughes said Friday 664 rigs were seeking oil and 209 explored for natural gas. One was listed as miscellaneous. A year ago, 1,889 rigs were active. Among major ...

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Dunn County well reveals strength of Whiting’s enhanced completions

Experimenting with enhanced well completions has Whiting Petroleum delivering 40 to 50 percent higher production from older offset wells in the Williston Basin. One of its Skunk Creek wells in South Fork field of northeast Dunn County reached an initial 24-hour production rate of 4,300 barrels of oil equivalent (BOE) per day from an enhanced completion middle Bakken well, making ...

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Exxon profit halved by tumbling crude price; shares drop

Exxon Mobil Corp <XOM.N> reported lower-than-expected second-quarter results on Friday as tumbling crude prices halved profit at the world’s largest publicly traded oil company. Profit at Exxon’s exploration and production business fared even more poorly with a profit of $2 billion, down sharply from $7.9 billion a year earlier. The company’s shares fell 2 percent to $81.40 in premarket trading. ...

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Clinton won’t take sides on Keystone but says it shouldn’t be a litmus test

NASHUA, N.H. — The controversial Keystone XL pipeline should not be the sole litmus test by which environmental advocates judge presidential candidates, Hillary Rodham Clinton said Tuesday. “I recognize advocates feel strongly, I respect that,” Clinton said, but “I would respectfully disagree” with those who say that the Keystone project is the “overriding threat” to the world’s climate. Clinton, the ...

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APNewsBreak: Gov’s PAC returning money linked to oil company

RICHMOND, Va. — Virginia Gov. Terry McAuliffe’s political action committee is returning a $25,000 donation from a company with ties to Angola’s state-owned oil company after receiving questions from The Associated Press about whether the contribution was legal. Officials at Common Good Va. initially believed the $25,000 donation on June 29 was legal. But nearly a month later, the PAC ...

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85% of natural gas growth comes from the Northeast

It’s not a shocker that almost all of the U.S.’s natural gas growth has come from the Northeast, and for that you can thank new production techniques. According to the U.S. Energy Information Administration (EIA), the Utica and Marcellus Shale formations found in Ohio, Pennsylvania, West Virginia, New York, and into Kentucky are responsible for 85 percent of the nation’s ...

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Proposed BLM regulations draw industry criticism

FARMINGTON — On July 10, the Bureau of Land Management announced proposed updates to its 25-year-old oil and gas regulations in an effort to help ensure states, tribes and taxpayers get fair royalty returns on resources taken from public lands. The proposed rule changes, announced Friday, will update the BLM’s “Onshore Oil and Gas Order Number 3 (Order 3),” which ...

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Gas pipeline fight fills Manchester meeting room

MANCHESTER – With some holding signs, such as “gas is explosive,” residents worried about New Jersey Natural Gas’ proposed 30-mile transmission pipeline filled a hearing room here Tuesday. “I don’t want it in my town,” said Manchester resident Theresa Lettman who feared pipeline explosions. “No protection is given to the residents of Manchester Township if this pipeline is placed along ...

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