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BP posts 91 percent plunge in fourth quarter earnings

BP posts 91 percent plunge in fourth quarter earnings

LONDON — BP’s fourth-quarter earnings plunged 91 percent amid sharp declines in oil prices as the British energy company continued to make provision for the Deepwater Horizon disaster in the Gulf of Mexico and streamline operations. The company reported Tuesday that underlying replacement cost profit fell to $196 million from $2.2 billion in the same quarter a year earlier. The ...

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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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Range Resources looking to sell assets as low gas prices remain a drag

Range Resources Corp. expects to sell some assets outside the Marcellus shale as it battles low natural gas prices that pummeled its revenue. “We are continuing to work on potential noncore asset sales for areas in our portfolio that cannot compete against the Marcellus for capital,” CEO Jeff Ventura said Wednesday in announcing third-quarter financial results. The Fort Worth-based company ...

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