(Photo by Andrew Burton/Getty Images)

Cameron stock price gained nearly 50 percent this week

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Investors flocked to Cameron following the company’s announcement that it was being bought by oil field services giant Schlumberger on Wednesday.
(Bureau of Safety and Environmental Enforcement)

Facing fierce winds and high seas, Shell halts Arctic drilling

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Shell temporarily halted exploratory oil drilling in the Arctic Ocean as the weather worsened on Thursday.
In this Sept. 16, 2004 file photo, waves crash against a sailboat lodged under a bridge in Fort Walton Beach, Fla., after Hurricane Ivan struck the gulf coast. Federal regulators believe a persistent oil spill in the Gulf of Mexico that began after a drilling platform was toppled during Hurricane Ivan in 2004 will continue for 100 years or more if left unchecked. (AP Photo/John Bazemore, File)

Shale boom has made U.S. oil production less vulnerable to hurricanes

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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.
Over thirty oil drilling rigs are idle in a Helmerich & Payne, Inc. yard along Groening Street in Odessa, Texas, as rig counts drop in the Permian Basin, Monday, May 18, 2015. (Courtney Sacco/Odessa American via AP)

Drillers added just one oil rig this week

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The Baker Hughes rig count, considered a proxy for oil field activity, showed rigs drilling for oil increasing from 674 last week to 675 this week.
Halcon

Halcón Resources reduces debt but gets NYSE de-listing warning

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The exploration and production company announced that it worked out a deal to reduce its long-term debt by $548 million after privately negotiating a deal with unnamed holders of its outstanding debt.
A group of idle rigs is seen behind James Noe, Senior Vice President, General Counsel and Chief Compliance Officer for Hercules Offshore while aboard the Hercules 251 a shallow water drilling rig owned by on Wednesday, Aug. 11, 2010, near Port Fourchon, La. (Smiley N. Pool /Chronicle)

Hercules Offshore no longer listed on Nasdaq

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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.
(Jordan Blum/Houston Chronicle)

Getting a glimpse of Exxon Mobil’s new campus

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The complex resembles a modern college campus with plenty of landscaping, about 20 buildings, three large parking garages, a wellness center and more.
schlumberger quanta geo

Schlumberger will still be biggest following Cameron deal

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Schlumberger, with $48.6 billion in revenue in 2014, will still be the biggest oil field services company in the world after its deal with Cameron closes.
(AP file photo/Keith Srakocic)

Environmental groups threaten lawsuit over drilling wastewater rules

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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.
Niels Koppel touches a Cameron Evo 20K BOP, a blowout preventer, at Cameron's booth at the Offshore Technology Conference at Reliant Center Monday, May 6, 2013, in Houston. (Cody Duty / Houston Chronicle)

Analysts: Schlumberger’s bid for Cameron “makes sense”

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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.
Categories: Deals, General