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Energy producers weather historic oil market collapse

Energy producers weather historic oil market collapse

The oil market collapse has put more pressure on energy producers than ever before, causing an unprecedented financial crisis, according to industry officials. On average, an oil company earns only $26 for each barrel of oil sold at current oil prices, according to a report by the Houston Chronicle. In February, oil prices in the United States fell to a ...

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Oklahoma agency calls for wastewater cuts to stem earthquakes

Oklahoma agency calls for wastewater cuts to stem earthquakes

OKLAHOMA CITY (AP) — Oklahoma oil-and-gas regulators on Tuesday issued their most far-reaching directive yet in response to a surge in earthquakes by asking the operators of nearly 250 injection wells to reduce the amount of wastewater they inject underground by 40 percent. The Oklahoma Corporation Commission wants operators over the next two months to reduce injections by more than ...

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US rig count declines by 7 this week to 737

HOUSTON — Oilfield services company Baker Hughes Inc. says the number of rigs exploring for oil and natural gas in the U.S. this week declined by seven to 737. Houston’s Baker Hughes said Friday that 545 rigs were seeking oil and 192 explored for natural gas. A year ago, with oil prices almost double the prices now, 1,920 rigs were ...

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Divided by shale, only some U.S. states win: Kemp

Marking Location by using pushpins on USA map

LONDON, Oct 27 – Thanks to shale, energy-producing states have been the strongest economic performers in the United States over the past decade, sharply improving their position compared with the energy-consuming states. Only 13 of the 50 states produced more energy than they consumed in 2010, the latest year for which comprehensive data is available, according to the U.S. Energy ...

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