MARKET TALK: Service Cos In Wait-And-See Mode After Court Ruling
22nd Jun 2010 23:00
6:00 (Dow Jones) Oilfield services providers are in a "wait-and-see mode" following a federal court ruling that lifts the Obama administration's six-month ban on offshore deepwater drilling, Bill Herbert, an analyst with Simmons & Co., says. Herbert notes that, "Everyone expects the White House to a
Read more3nd UPDATE: Federal Judge Rules Against Offshore Drilling Moratorium
22nd Jun 2010 22:58
(Updates with comments from Chevron and Hornbeck.) By Angel Gonzalez, Isabel Ordonez and Brian Baskin Of DOW JONES NEWSWIRES A federal judge in Louisiana on Tuesday ruled against the Obama administration's temporary ban on deepwater offshore drilling, dealing a blow to the administration
Read moreOil Companies, Rig Operators At Odds Over Who Pays For Idled Rigs
22nd Jun 2010 22:46
By Brian Baskin Of DOW JONES NEWSWIRES Oil companies and rig operators are entering uncharted waters as a fight over who pays for rigs idled by the recent offshore drilling moratorium heads to court. At least three oil companies have demanded early exits from long-term leases on five ri
Read moreHEARD ON THE STREET: The BP Blame Game
22nd Jun 2010 22:28
By Liam Denning A DOW JONES COLUMN Days after delivering a kick to BP's posterior by getting it to establish a $20 billion claims fund, the White House finds itself on the wrong end of a federal judge's boot. That actually could be bad for BP. Judge Martin Feldman's ruling against the fe
Read moreBP WATCH: Shares Slump In US, London On Continued Liability Worries
22nd Jun 2010 22:21
By Donna Kardos Yesalavich Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--BP PLC's (BP) shares fell in the U.S. and London Tuesday as investors continued to worry about the extent of the oil giant's potential liabilities for the Gulf of Mexico oil spill. BP's American Depositary shares clo
Read moreHornbeck: 'Pleased Court Has Ruled In Our Favor' On Moratorium
22nd Jun 2010 22:09
By Brian Baskin Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--Hornbeck Offshore Services Inc. (HOS), which filed the lawsuit that led to the overturning of a temporary U.S. ban on offshore drilling Tuesday, is "ready to continue serving the needs of our customers" while the government appeals
Read moreUS HOT STOCKS: Jabil Circuit, Adobe, Active In Late Trading
22nd Jun 2010 21:53
U.S. stocks fell Tuesday as the Dow Jones Industrial Average dropped 149 points to 10294, the S&P 500 slipped 18 points to 1095 and the Nasdaq Composite dropped 27 points to 2262. Among the companies whose shares were actively trading in the after-hours session are Jabil Circuit Inc. (JBL), Adobe Sy
Read moreUPDATE:Offshore Drillers Soar On Judge's Ruling, Then Fall Back
22nd Jun 2010 21:41
(Updates with more analysts' comments, closing prices) By David Benoit Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--A Louisiana judge's ruling against the Obama administration's moratorium on deepwater drilling momentarily sent offshore drilling shares soaring Tuesday before they sank ri
Read moreADR REPORT: Shares Drop On Mixed Data, Energy-Sector Worries
22nd Jun 2010 21:34
By Shara Tibken Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--International companies trading in New York declined Tuesday, after existing U.S. home sales unexpectedly fell in May, but a report of regional U.S. manufacturing activity showed continued strength. Meanwhile, the energy sector
Read moreAT A GLANCE: Judge Rules Against Deepwater Drilling Moratorium
22nd Jun 2010 21:28
THE NEWS A federal judge in Louisiana on Tuesday ruled against the Obama administration's temporary ban on deepwater offshore drilling, handing a major victory to the oil industry and delivering a stinging rebuke to the White House. U.S. District Judge Martin L.C. Feldman said the Obama adm
Read moreMARKET TALK: Ruling Against Drilling Ban Seen Securing Jobs
22nd Jun 2010 21:16
4:16 (Dow Jones) A federal court ruling in Louisiana on Tuesday that strikes down the government-mandated moratorium on deepwater offshore drilling will help secure the jobs of "tens of thousands of Americans," Bruce Vincent, chairman of the Independent Petroleum Association of America and presiden
Read more2nd UPDATE: Federal Judge Rules Against Offshore Drilling Moratorium
22nd Jun 2010 21:00
(Updates with comments from legal expert, updated share prices) By Angel Gonzalez, Isabel Ordonez and Brian Baskin Of DOW JONES NEWSWIRES A federal judge in Louisiana Tuesday ruled against the Obama administration's temporary ban on deepwater offshore drilling, dealing a blow to the ad
Read moreMARKET TALK: Oil Service Cos Down After Drilling Ban Lifted
22nd Jun 2010 20:42
3:42 (Dow Jones) Philadelphia Oil Service Index (OSX) for the 15 largest oil service companies down 3.1% to 176.28 after a federal judge lifted the deepwater drilling moratorium. The stock of some of the index's largest components, such as Halliburton (HAL), Transocean (RIG) and Schlumberger (SLB),
Read moreUPDATE: Federal Judge Rules Against Offshore Drilling Moratorium
22nd Jun 2010 20:41
(Updates with reaction from Shell, environmental groups, industry lobbying groups and an analyst as well as details about the order and latest share prices) By Angel Gonzalez, Isabel Ordonez and Brian Baskin Of DOW JONES NEWSWIRES A federal judge in Louisiana on Tuesday ruled against t
Read moreUPDATE: Petrobras Sees Tighter Drilling Rules On Horizon
22nd Jun 2010 20:33
(Updates with ruling against U.S. drilling ban.) By Jeff Fick Of DOW JONES NEWSWIRES RIO DE JANEIRO (Dow Jones)--Brazilian state-run energy giant Petroleo Brasileiro (PBR, PETR4.BR), or Petrobras, expects fallout from the U.S. Gulf of Mexico drilling disaster to reach local shores, with
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