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Author Archives: Ben Karkela

Top Eagle Ford news stories: April 29 – May 6

rig count, oil natural gas

Here’s a recap on the top Eagle Ford news stories from the past week. Energy producers continue to struggle with depressed oil prices and two oil majors abandoned plans for a merger as opposition from regulators mounted. 5. Exxon sees smallest profit in 16 years, Chevron posts loss DALLAS (AP) — Motorists are saving billions on cheaper gasoline, but the ...

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US rig count drops 5 this week to 415

rig count, oil natural gas

HOUSTON (AP) — The number of rigs exploring for oil and natural gas in the U.S. dropped by five this week to 415, another all-time low amid depressed energy prices. A year ago, 894 rigs were active. Houston oilfield services company Baker Hughes Inc. said Friday that 338 rigs sought oil and 86 explored for natural gas. One was listed ...

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Stock market shakes off an early loss and turns higher

stock market

NEW YORK (AP) — The stock market turned modestly higher in afternoon trading Friday, after the U.S. government’s disappointing jobs report added to speculation that the Federal Reserve might keep interest rates low for another year. Investors were also weighing tepid U.S. earnings reports and persistent weakness in the global economy. TAKING SCORE: The Dow Jones industrial average rose 77 ...

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US attorney: 2 Belarusians stole $1.35M from drilling company

drilling company

PITTSBURGH (AP) — Federal authorities in Pittsburgh say two men have been charged by authorities in Belarus with receiving $1.35 million stolen in a phishing scheme from the bank account of a Pennsylvania oil and gas drilling company. U.S. Attorney David Hickton says 34-year-old Aleskey Yaroshevich and 41-year-old Egor Pavlenko are in police custody in their hometown of Minsk. Hickton’s office ...

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County wants Pennsylvania prison to become power plant

County wants Pennsylvania prison to become power plant

CRESSON, Pa. (AP) — County officials want to turn a former prison site in central Pennsylvania into a gas-fired power plant. The former State Correctional Institution-Cresson has been transferred to the Cambria County Redevelopment Authority for $1. That’s the first step in selling the 93-acre tract to a company that wants to build the plant. Greg Cammerata, president of Greensburg-based ...

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