NEW YORK (AP) — Exxon Mobil brought in $69 billion in revenue in the second quarter, down from last year’s $73.5 billion. Some of the benefits of rising crude prices, up 22% this year, were offset by natural gas prices, which have fallen almost 24% over the same time frame. The nation’s largest oil company said Friday that its profit …
DALLAS — Lucid Energy Group has announced it is underway with the development of its next large cryogenic processing plant at its flagship Red Hills Natural Gas Processing Complex in southwestern Lea County. The Red Hills V plant, located about 20 miles west of Jal on N.M Hwy 128, will have the capacity to process 230 million cubic feet of natural gas …
IRVING, Texas — ExxonMobil officials said that a new study commissioned by the multinational oil and gas corporation estimates its development of Permian Basin resources in New Mexico will generate $64 billion in net economic benefits for the state and local communities over the next 40 years, creating thousands of new jobs and providing increased funding for education, health and …
PORT FOURCHON, La. (AP) — The Trump administration on Thursday moved to ease safety regulations adopted after the 2010 BP Deepwater Horizon blowout, the worst offshore oil disaster in U.S. history that killed nearly a dozen people. Interior Secretary David Bernhardt said in a statement the administration was acting to eliminate “unnecessary regulatory burdens while maintaining safety and environmental protection …
HOUSTON (AP) — Exxon Mobil says it plans to spend $2 billion to expand a chemicals plant next to the Houston Ship Channel and that the project will create 2,000 temporary construction jobs. The company said Thursday it will build a new unit at the Baytown plant to make chemical compounds that give plastics more elasticity and flexibility, and produce …
NEW YORK (AP) — A bidding war is breaking out over Anadarko Petroleum, with Occidental making an offer that it says is about a 20% premium to Chevron’s deal announced earlier this month. Occidental Petroleum Corp. said in a letter to Anadarko’s board on Wednesday that its bid is worth $76 per share in cash and stock and would give …
NEW YORK (AP) — Amazon is getting cozy with the oil industry — and some employees aren’t happy about it. The online shopping giant, which already works with BP and Shell, has been trying to woo more oil and gas companies to use its technology to help them find drillable oil faster, angering workers who have been pushing Amazon to …
CROSBY, Texas (AP) — President Donald Trump’s support for shifting more power to states took a back seat Wednesday to his affinity for oil and gas production as he aimed to make it harder for states to block pipelines and other energy projects due to environmental concerns. At the urging of business groups, Trump signed two executive orders designed to …
LOVINGTON — Jason Ganaway was 10 years old when he would stand on a bucket and help his dad, Michael, dress hamburger buns. That was 26 years ago, when Jason’s grandfather Earl owned Olé Jax Drive Inn in Lovington. Year’s later Michael bought the restaurant from Earl and ran one of Lovington’s favorite spots to spend time with friends, enjoy …
BILLINGS, Mont. (AP) — A judge blocked oil and gas drilling across almost 500 square miles (1,295 sq. kilometers) in Wyoming and said the U.S. government must consider climate change impacts more broadly as it leases huge swaths of public land for energy exploration. The order marks the latest in a string of court rulings over the past decade — …
