Hurricanes no longer pose as much of a threat to domestic production as they once did since the shale boom reduced the United States’ reliance on oil and gas extracted offshore, according to a new federal analysis.
Nasdaq staff determined Hercules no longer met the requirements to continue being listed on the exchange and the Houston-based company did not appeal the decision. Its last trading day will be Sept. 7.
Under existing federal law, the Environmental Protection Agency is obligated to review and possibly revise regulations governing the handling of oil and gas waste every three years. But the agency’s last review was 27 years ago.
Analysts now hail the decision by the two companies to form a joint venture called OneSubsea as the precursor to Schlumberger’s plans announced Wednesday to acquire Houston-based Cameron, a major oilfield equipment and technology company.
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