The 2,100-mile Keystone Pipeline, owned and operated by TransCanada Corp. (NYSE: TRP) was closed Wednesday night after routine integrity tests revealed potential safety issues with the line. The problems have been located in the…
Bankrupt U.S. battery maker A123 Systems Inc. (NASDAQ: AONE) today got permission from the U.S. Bankruptcy Court to use $15.5 million of “debtor-in-possession” financing from a total of $72.5 million in financing from Johnson…
Schlumberger Ltd. (NYSE: SLB) and Baker Hughes Inc. (NYSE: BHI) reported third-quarter results before markets opened this morning. Both of the oil field services firms missed estimates for quarterly revenues, though Schlumberger’s adjusted earnings…
Solar component maker Satcon Technology Corp. (NASDAQ: SATC) filed for Chapter 11 bankruptcy protection after markets closed last night. While not as well known as solar panel makers First Solar Inc. (NASDAQ: FSLR) and…
The U.S. Energy Information Administration (EIA) today reported the U.S. natural gas stocks rose by a total of 51 billion cubic feet, slightly higher than the 48 billion cubic feet that analysts were expecting.…
Russia’s largest state-controlled oil company, OAO Rosneft, has reportedly offered BP PLC (NYSE: BP) about $28 billion for BP’s share its Russian joint venture TNK-BP. BP’s partner in the venture is a Russian firm,…
Both Kinder Morgan Energy Partners L.P. (NYSE: KMP) and Kinder Morgan Inc. (NYSE: KMI) reported third quarter results today. KMP will pay a distribution of $1.26 per common unit, more than double the consensus…
Last week we noted that Royal Dutch Shell plc (NYSE: RDS-A) (NYSE: RDS-B) had applied for a permit to export U.S. crude. BP plc (NYSE: BP) has already received a permit to export U.S.…
The U.S. Energy Information Administration (EIA) released its weekly petroleum status report this morning. U.S. commercial crude inventories increased by 2.9 million barrels last week, bringing the total U.S. commercial crude inventory to 369.2…
Cree Inc. (NASDAQ: CREE) is a bit of a surprise. The LED company is gaining after earnings. After revenue rose 17% to $315.8 million, its earnings rose by 13% to $31.8 million or $0.27…
Halliburton Co. (NYSE: HAL) reported fiscal third-quarter results before markets opened this morning. For the quarter, the oil and gas services company posted adjusted diluted earnings per share (EPS) of $0.67 on revenues of…
The number of oil and gas drilling rigs in the U.S. is down by 188 at last count, with gas drilling rigs down by 514 and oil rigs up by 331. The overall decline…
At a natural gas conference in Pittsburgh, natural gas exploration and production company executives said that consistent price between $4 and $5 per thousand cubic feet will re-start drilling in the country’s dry gas…
After filing a “going concern” letter earlier today with the SEC, U.S. battery maker A123 Systems Inc. (NASDAQ: AONE) later announced that it had sold its automotive business assets to Johnson Controls Inc. (NYSE:…
The writing has been on the wall for a couple of weeks, ever since Third Point, the hedge fund managed by Daniel Loeb, announced that it had put together a “significant” stake in Murphy…