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News. Science & Tech. Shopping. Sports. Weather. ... US oil company chiefs plan to increase spending in 2025. ... West Texas Intermediate crude, meanwhile, traded around $73 a barrel on Thursday ...
The Texas Railroad Commission cited seven earthquakes in the area between Nov. 8 and Dec. 17, 2023 ranging in magnitude from 3.6 to 5.2 – a quake reported Nov. 8 near Coalson Draw, Texas that ...
In Monday’s statement, the president cited the 2010 Deepwater Horizon disaster — in which a drilling rig in the Gulf of Mexico exploded, killing 11 workers and causing the largest oil spill in ...
Nabors Industries Limited is an American global oil and gas drilling contractor that has operated since 1972. Based in Houston, Texas, Nabors operates the world’s largest land drilling rig fleet, with around 500 rigs operating in over 25 countries – in almost every significant O&G basin on the planet.
In 1975, after the 1973 oil crisis, John R. Blocker bought Choya Energy, a six-rig contract drilling company based in Alice, Texas, and renamed the company Blocker Energy. [2] In 1980, the company became a public company via an initial public offering. [3] In 1981 and early 1982, the company borrowed heavily to expand its fleet to 54 rigs. [4]
Oilfield service companies may produce, maintain, and repair equipment used in oil extraction and oil transportation. [1] In 2019, the global oilfield services market was US $ 267.8 billion. [ 2 ]
Oil producers such as Exxon Mobil and Royal Dutch Shell are burning off gas in the largest oil field in the United States without required Texas state permits, the environmental group Earthworks ...
In 1991, the company doubled its reserves by acquiring assets from Amoco, including a position in the Permian Basin of West Texas, for $515 million and 2 million shares of the company. [9] [10] In 1992, the company moved its headquarters to Houston, Texas and signed a lease for 220,000 square feet of office space. [11]