Schlumberger Ltd announced that its shares jumped Friday after the oilfield services provider said its second-quarter profit rose 13 percent and issued a bullish outlook. Analysts praised the results. The stock rose $4.72, or 4.9 percent, to $101.50 in late-morning trading.
The Houston-based company said high oil and natural gas prices led to heavier spending [...]

The Abu Dhabi National Energy Company PJSC (TAQA), a publicly listed company on the Abu Dhabi Securities Exchange, announced that its wholly owned subsidiary, TAQA Bratani Limited (TAQA Bratani), has signed a sale and purchase agreement with Shell U.K. Limited and Esso Exploration and Production (UK) Limited (’the Vendors’) to purchase the equity pertaining to [...]

Atwood Oceanics, Inc. (Houston based International Offshore Drilling Contractor) (NYSE: ATW) announced today that its wholly-owned subsidiary, Atwood Oceanics Pacific Limited, conditionally exercised an option to construct an ultra-deepwater semisubmersible drilling rig to be built based on the Friede & Goldman Ex-D Millennium Dynamically Positioned Semisubmersible rig design with Jurong Shipyard Pte. Ltd. (”Jurong”) in [...]

Cabot Oil & Gas Corporation announced that it has priced a public offering of 4,350,000 shares of its common stock at price to the public of $65.27 per share. The size of the offering represents an increase over the 3,600,000 shares that the Company had previously announced. Proceeds of the offering are expected to [...]

Goldman Sachs upgraded the oilfield services sector to “Attractive” from “Neutral,” predicting strong profit growth due to greater drilling activity and high oil prices.
Analyst Charles Minervino expects earnings to grow in the double digits through 2011 as high oil prices lead to more rapid rig construction, and both drilling activity and the rates oil companies [...]

Intel Corp. will spin off key assets of a startup business to form an independent company called SpectraWatt Inc. that will make and supply photovoltaic cells to solar module companies.
Intel’s global investment organization — Intel Capital — will lead a $50 million investment round in SpectraWatt with Goldman Sachs subsidiary Cogentrix Energy LLC, PCG Clean [...]

Analysts disagree on how much Murphy Oil Corp. stands to gain from its stake in a deepwater offshore Malaysian oilfield, with Goldman Sachs giving a strong recommendation and JPMorgan downgrading the stock.
Murphy owns an 80 percent stake in the Kikeh field, where it began drawing oil in August 2007. The company shares production with Malaysia’s [...]

Cabot Oil and Gas will buy 25,000 acres of oil-producing properties in east Texas, as well as production infrastructure, for $602.8 million.
The purchase was from a private party, Cabot said, and is near existing Cabot properties in the Minden area.
Cabot estimated the purchased fields have proved reserves of 176 billion cubic feet of equivalent.
“We view [...]

Shares of China’s Yanzhou Coal Mining Co. trading in the U.S. helped pull an index of emerging markets ADRs down in Wednesday afternoon trading.
The company’s ADRs fell $11, or 10.3 percent, to $97.71. ADR stands for American Depositary Receipt, which is a security designed to allow U.S. investors to trade shares of companies based overseas.
The [...]

A Makati Regional Trial Court (RTC) has issued a writ of preliminary injunction against foreign-owned mining firm BHP Billiton, barring the company from operating in the Pujada Nickel mining site in the City of Mati, Davao Oriental.
In an Omnibus Order dated May 20, 2008, Judge Winlove Dumayas of the Makati RTC Branch 59 ordered BHP [...]