Oil equipment supplier Cameron International Corporation reported a 39 percent drop in its fourth quarter net income compared with last year’s fourth quarter results, a decline resulting from the company’s reliance on subsea drilling projects and costs associated with its recent acquisition of LeTourneau Technologies Drillings Systems. More »
National Oilwell Varco Inc. reported a nearly 30 percent increase in its fourth quarter earnings for 2011from the same time in 2010, as high oil prices and drilling competition in the shales have sharply increased demand for the company’s drilling and safety equipment. More »
Offshore wind-energy development cleared a major hurdle on Thursday as the Interior Department said it had determined that no major environmental or socioeconomic impacts would occur from leasing offshore areas off the mid-Atlantic coast. More »
Federal rules for fracking on public lands, set to be released in a few weeks, may serve as a model for states to get companies to disclose the chemicals used in the drilling process, an Obama administration official said. More »
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