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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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Anadarko cutting spending almost in half, selling assets

Anadarko cutting spending almost in half, selling assets

TRENTON, N.J. (AP) — Anadarko will sell more assets and reduce by nearly half its spending on oil and natural gas exploration this year. One of the world’s biggest independent oil and natural gas exploration and production companies, Anadarko said Tuesday it will cut capital expenditures this year to between $2.6 billion and $2.8 billion, from about $5.5 billion last ...

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Anadarko Wolf Camp opens in West Texas

West Texas, Anadarko man camp,

The first worker arrived at the new Anadarko Wolf Camp last week in Loving County, Texas. The 77,180-square-foot facility, built by Target Logistics, is exclusive to Anadarko employees and contractors. The Wolf Camp goes against the perception of crew camps turning into ghost towns. While oil and gas companies have cut billions of dollars from their budgets, Anadarko remained willing ...

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Anadarko reports $1.25 billion loss in 4Q

Anadarko reports $1.25 billion loss in 4Q

Anadarko Petroleum posted a loss of $1.25 billion in the fourth quarter. The Texas-based company plans to slash nearly half of its budget next year as it weathers plunging oil prices. For the year, Anadarko posted losses of $6.69 billion, or $13.18 per share. Anadarko CEO Al Walker said the company’s decision not to expand drilling programs in 2015 paid ...

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Top 5 Bakken stories of the week

In case you missed them, here are the top five headlines from Bakken.com for the week of November 15th through the 21st. Enjoy! 5. North Dakota oil well backlog eclipses 1,000 for first time The number of oil wells in North Dakota that have been drilled but not fracked eclipsed 1,000 for the first time in September, as producers delayed ...

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Permian producers buck the trend

The oil price crash walloped large independent oil companies during the past year, which on average lost a third of their value, according to RBC Richardson Barr, a Houston-based energy advisory firm. But some companies buck that trend and they share a common trait — they focus on the Permian Basin, where they lay claim to prized sweet spots, and ...

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Anadarko approached Apache with offer that was rejected – source

NEW YORK – U.S. oil and gas exploration and production company Anadarko Petroleum Corp has approached Apache Corp with a potential acquisition as low crude oil prices prompt companies to seek merger partners, according to a person familiar with the matter. The prolonged slump in crude oil prices has stirred talk of consolidation among U.S. shale companies, however so far ...

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