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Tag Archives: Oil

First new oil wells in years being drilled in shale region

An Australian company is drilling new wells in an oil formation that straddles southwest Mississippi and southeast Louisiana, the first new wells drilled in about three years, after a crash in oil prices dried up activity. Australis Oil & Gas Ltd. announced earlier this month that it had started drilling the first of at least six planned wells near Gillsburg, ...

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DeepWell buys Boots Smith Oilfield Services

By JACK WEATHERLY DeepWell Energy Services of Columbia has announced acquisition of Boots Smith Oilfield Services LLC of Laurel. The acquisition will make DeepWell the largest provider of transportation, rig moving and site preparation in the United States, it said in a release. The combination of the two companies will increase the DeepWell work force to 1,500 with estimated 2018 ...

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Stocks head higher as energy, banks, retailers recover

U.S. stocks are broadly higher Thursday after a sharp drop late in the previous day. Energy companies are rising with the price of oil and retailers are up after a series of strong sales reports. Banks are also climbing as bond yields rise. KEEPING SCORE: The Standard & Poor’s 500 index added 8 points, or 0.4 percent, to 2,361 as ...

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US stock indexes edge higher in early trading; Oil up

U.S. stock indexes edged higher in morning trading Tuesday, recovering after an early slide. Investors weighed the latest batch of company earnings and economic news. Banks and other financials stocks led the gainers, while phone company stocks were down the most. Energy stocks rose as oil prices were headed higher. KEEPING SCORE: The Dow Jones industrial average rose 38 points, ...

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Trump cheers Exxon plan to spend $20B on Gulf Coast projects

President Donald Trump and Exxon Mobil Corp. exchanged praise for each other on Monday as the company announced plans to create thousands of jobs by spending $20 billion over 10 years on plants along the Gulf Coast. Exxon’s plan started long before Trump entered the White House, however. It includes investments that began in 2013. Exxon said Monday the work ...

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US stock indexes veer higher in morning trading; oil slides

Technology and industrial companies led U.S. stocks modestly higher in morning trading Tuesday as indexes bounced back from small losses the day before. Energy stocks lagged the most as the price of crude oil headed lower. Investors were sizing up earnings reports from General Motors, Michael Kors and other big companies. KEEPING SCORE: The Dow Jones industrial average rose 90 ...

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US stocks modestly lower in early trading; oil prices slide

U.S. stock indexes edged mostly lower in early trading Monday, led by declines in energy companies. Oil and gas companies fell the most as the price of crude oil headed lower. Materials stocks notched the biggest gain. Investors had their eye on the latest company earnings and deal news. KEEPING SCORE: The Dow Jones industrial average fell 52 points, or ...

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Oil and banks take Dow to new highs, but tech stocks dive

More big gains for blue-chip banking and oil stocks pulled the Dow Jones industrial average to another record high Thursday even as broader market indexes continued to slip. Technology companies are plunging and on are track for their biggest loss in two months. High-dividend stocks are also trading lower as bond yields rise. KEEPING SCORE: The Dow gained 38 points, ...

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Global stocks hit by gloom on Wall Street, lower oil prices

Global stock markets fell on Wednesday after some disappointing earnings reports and as a drop in oil prices dragged down shares in energy companies. KEEPING SCORE: The FTSE 100 of Britain dropped 1 percent to 6,949 while Germany’s DAX fell 1 percent as well, to 10,649. The CAC 40 in France lost 0.8 percent to 4,506. Dow and S&P futures ...

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Auctioneer, oil field service firm watch price of crude

By JACK WEATHERLY In the past two years, coinciding with the downturn in oil and natural gas exploration in the country, equipment sales have grown to 15 to 20 percent of Jeff Martin Auctions’ business. Owner Jeff Martin declined to reveal the revenues for his operation in Brooklyn, Miss., near Hattiesburg, but said it has become the largest such auction ...

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