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Chesapeake to exit Barnett, birthplace of shale boom

Chesapeake Energy Corp. agreed to give away its Barnett Shale holdings to a private-equity backed operator, exiting the birthplace of the shale revolution to escape almost $2 billion in onerous pipeline contracts. 410 more words

Energy

Credit Suisse: Oil Has Stabilized Because Saudis Got What They Wanted

Forget wealth effect. The global equity market can’t have a smooth bull run if oil prices are tanking.

This is because commodity-related capital expenditure accounts for around 30% of total capex globally, so even though consumers may benefit from cheaper oil, companies are hit first. 421 more words

Oil

Oil jumps $2, breaking range as supply seen ebbing

NEW YORK (Reuters) – Oil prices jumped more than $2 a barrel on Tuesday, breaking out of a month-long trading range on a mix of technical buying and industry talk as well as U.S. 500 more words

Energy