ConocoPhillips (COP) Declares $0.265 Quarterly Dividend; 2.3% Yield
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May 4, 2017 5:25 PM EDT
By Ethan Lou
CALGARY, Alberta (Reuters) - ConocoPhillips (NYSE: COP) will lay off 300 Canadian workers after selling most local assets to domestic crude producer Cenovus Energy Inc (NYSE: CVE), the Houston-based company said on Thursday.
ConocoPhillips in March agreed to sell oil sands and western natural gas assets to Cenovus for C$17 billion ($12.4 billion), making it the latest international oil major to pull back from a region beset by high costs and low crude prices.
Norwegian oil company Statoil ASA (NYSE:... More
May 4, 2017 4:48 AM EDT
By Jessica Resnick-Ault
NEW YORK (Reuters) - As rapid growth in U.S. shale production grabs headlines and threatens to upend attempts by OPEC to balance oil markets, a more unsung sector of the U.S. industry is also hitting new output highs - the offshore Gulf of Mexico.
While attention and investment is focused on shale, the Gulf is the among the most prolific oil source in the United States, producing more than Alaska, the West Coast and Rocky Mountains combined. The region churned out a record 1.76 million barrels per day of crude in January, trailing... More
