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US stocks open higher, oil may have bottomed out

US stocks open higher; oil may have bottomed out

NEW YORK (AP) — Stocks are opening sharply higher on Friday following a rally in Europe and an upturn in crude oil prices. All 10 industry sectors of the Standard and Poor’s 500 index rose, led by energy company shares. Anadarko Petroleum rose 6.5 percent and Devon Energy gained 8 percent. KEEPING SCORE: The Dow Jones industrial average climbed 175 ...

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Devon Energy to lay off 1,000 workers, 700 in Oklahoma City

Devon Energy to lay off 1,000 workers, 700 in Oklahoma City

OKLAHOMA CITY (AP) — Oklahoma City-based Devon Energy has announced plans to lay off about 1,000 employees — including about 700 in Oklahoma City. The oil and natural gas company said in a statement Tuesday that the layoffs are due to “the current commodity price environment” and an effort to reduce expenses in order to remain financially flexible and competitive. ...

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Oil prices climb third-straight day

Oil prices climb third-straight day

NEW YORK — U.S. stocks rose Thursday as oil prices climbed for the third day in a row while key oil-producing nations discussed cuts in production. Tech and consumer stocks traded higher, led by Amazon and PayPal, while drugmakers fell. Facebook made its biggest leap in two and a half years after it said its profit more than doubled in the ...

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BP buys Devon Energy’s Blanco unit

FARMINGTON — BP has added more San Juan Basin assets to its natural gas portfolio for the first time in seven years. On Dec. 18, BP’s Lower 48 Onshore oil and gas business announced the acquisition of Devon Energy Corp.’s North East Blanco Unit, a collection of 480 natural gas wells across 33,000 gross acres in San Juan and Rio ...

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In Canada’s prairies, crude slump puts first oil patch in reverse

LLOYDMINSTER, Canada – Amid the corn and canola fields of western Saskatchewan, oil foreman Dwayne Roy is doing what Saudi Arabia and fellow OPEC producers are loath to do: shutting the taps on active wells. Inside a six-foot-square wooden shed that houses a basic hydraulic pump, the Gear Energy Ltd employee demonstrates how shutting down a conventional heavy oil well ...

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Devon, Denbury, Shell and Vine O&G unlock automation opportunity

Shale production has rocketed from 100 kboe/d to 7,500 kboe/d in less than 10 years. During the same time, shale plays across North America have seen hugely impactful developments, with drilling costs declining and productivity per well increasing. The adoption of digital technologies has been critical to this, supporting the fact that the digital oilfield services market is set to ...

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