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Top Marcellus news stories: April 8-15

Review the top Marcellus news stories from the past week. During a swing through New York, presidential candidate Bernie Sanders said he wants to eliminate fracking, and tragedy struck the oil industry as two workers were killed while repairing a Texas pipeline. 5.) Chevron announces more Houston job cuts Chevron plans to cut 655 Houston jobs as part of a ...

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Top Eagle Ford news stories: April 1-8

Take a look back at the top Eagle Ford news stories of the week. Depressed oil prices continue to impact economies at home and abroad. Houston lost more jobs as it weathers the oil bust, and an OPEC official said a deal to freeze production will be reached soon. 5. Once wedded to oil, Houston economy carries on despite bust HOUSTON (AP) ...

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US stocks jump following another surge in oil prices

US stocks jump following another surge in oil prices

NEW YORK (AP) — U.S. stocks are climbing Friday morning as the price of oil jumps for the second time in three days. Energy companies are getting a boost and mining and metals companies are also posting gains. Retailers are struggling after some weak sales reports. KEEPING SCORE: The Dow Jones industrial average rose 141 points, or 0.8 percent, to ...

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Chevron announces more Houston job cuts

Chevron announces more Houston job cuts

Chevron plans to cut 655 Houston jobs as part of a payroll decrease across its upstream business. The California-based company confirmed the layoffs Thursday. Chevron previously stated it would cut its workforce by 4,000 this year. In 2015, The oil major reduced its workforce by 3,000. The total estimated cuts made up about 10 percent of the company’s workforce at ...

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US stocks rise as health care and energy companies soar

US stocks rise as health care and energy companies soar

NEW YORK (AP) — U.S. stocks broke a two-day losing streak Wednesday as investors bought up drugmakers and other health care companies. Energy companies also jumped as the price of oil surged. Biotech drug companies, which have been mired in a long slide, made their biggest gains in almost five years. That came after Pfizer, one of the largest pharmaceutical ...

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Half of continental U.S. oil production comes from new wells

Half of continental U.S. oil production comes from new wells

About half of the oil produced in the continental United States last year came from wells drilled after January 2014, according to the U.S. Energy Information Administration. The data provides insight into the importance of short-cycle shale production and advances in oil industry technologies. Many companies are targeting short-cycle investments, lower-cost projects that take months, rather than years, to come ...

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Chevron shifts focus to Texas shale

Chevron shifts focus to Texas shale

Chevron plans to focus on shorter-cycle investments in West Texas shale plays after its larger, long-term investments come into production this year. By the end of the decade, Chevron believes it can nearly triple its oil production in the Permian Basin by increasing its rig count from seven to 14. “Don’t be surprised if by the middle of the next ...

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Chevron cuts spending budget again

gas, Chevron

NEW YORK (AP) — Chevron is cutting its spending budget by nearly 40 percent for 2017 and 2018 as it deals with plunging oil prices, a bigger cut in spending than it previously expected. The oil and gas company said Tuesday that it expects to spend between $17 billion and $22 billion on drilling and other projects in 2017 and ...

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