Baker Hughes says its AutoTrak Curve rotary steerable system allows faster and more accurate drilling operations. Technologies provided by Baker Hughes and other oil field services companies are increasing the number of wells drilling rigs can bore, prompting a new look at historically useful measures of oil field productivity -- including the rig count Baker Hughes has published for decades. (Miller Photography Inc.)

Baker Hughes increases layoffs to 10,500

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Oil field service company Baker Hughes says it has decided to increase its job cuts to 10,500 workers, about 17 percent of its workforce, as it works through a slump in North American drilling.
(Daniel Acker/Bloomberg)

World’s biggest oil trader says crude price can’t drop much more

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Oil prices will range from $50 a barrel to $70 a barrel in the second half of this year, Ian Taylor, the firm’s chief executive officer, said in an interview.
(AP photo/Brennan Linsley)

Encana said to explore sale of Haynesville gas properties

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Encana is unloading gas assets to better focus on drilling for oil and liquids such as condensate.
OIL GAS RIG

U.S. Steel to increase job cuts in Harris County

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U.S. Steel, which makes pipes used in oil and gas wells, has been suffering as drillers have slashed budgets in response to low oil prices.
(Johnny Hanson/Houston Chronicle file photo)

Halliburton cuts 9,000 jobs as oil slump takes toll

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Oil field services firm Halliburton posted a first-quarter net loss of $643 million as drilling rigs continued to go silent in North American oil fields and producers asked for pricing concessions for services, it said Monday.
Photographer: Rich Press.

5 years after BP spill, drillers push into riskier depths

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ON THE GULF OF MEXICO — Five years after the nation’s worst offshore oil spill, the industry is working on drilling even further into the risky depths beneath the Gulf of Mexico to tap massive deposits once thought unreachable. Opening this new frontier, miles below the bottom of the Gulf, requires engineering feats far beyond […]
The Ain Amenas gas field in Algeria, where Islamist militants raided and took hostages Wednesday Jan. 16, 2013. (AP Photo/Kjetil Alsvik, Statoil via NTB scanpix, File)

More gas found in Algeria region hit by 2013 hostage-taking

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An al-Qaida splinter attacked the nearby Ain Amenas gas plant in January 2013, resulting in the death of 40 plant workers, mostly foreigners.
(Photo by Andrew Burton/Getty Images)

Oil holds biggest weekly gain since 2009 on China stimulus

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Oil has climbed more than 40 percent since reaching a six-year low in January on estimates that the cutback in U.S. rigs and a boost for fuel demand from lower prices will help drain the global supply surplus.
(AFP/Getty Images)

Fallout from Petrobras scandal claims another victim

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The companies cited in Brazil’s biggest corruption scandal have seen access to credit dry up at a time Petrobras is scaling back some operations and delaying payments to contractors.
(AP file photo/Paul Sakuma)

GE Power sales boost profit past estimates amid oil slump

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Fallout from the global rout in oil markets showed up in GE’s sales, which trailed analysts’ estimates.