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US rig count down 2 this week to 506

rig count, Baker Hughes

HOUSTON (AP) — The number of rigs exploring for oil and natural gas in the U.S. declined by two this week to 506. A year ago, 842 rigs were active. Depressed energy prices have sharply curtailed oil and gas exploration. Houston oilfield services company Baker Hughes Inc. said Friday that 416 rigs sought oil and 89 explored for natural gas ...

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Buffett’s firm buys nearly 1 million more Phillips 66 shares

Berkshire Hathaway, Phillips 66

OMAHA, Neb. (AP) — Warren Buffett’s company has bought nearly 1 million more shares of oil refiner Phillips 66. Berkshire Hathaway said in a regulatory filing that it owned 80.67 million Phillips 66 shares after the latest purchases this week. Berkshire now controls 15.4 percent of Phillips 66 stock. Berkshire has been investing in Houston-based Phillips 66 since 2012. After ...

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Dakota Access CEO: Company committed to finishing project

pipeline safety

BISMARCK, N.D. (AP) — The head of a Texas company building the $3.8 billion Dakota Access pipeline told employees Tuesday that it is committed to the project despite strong opposition and a federal order to halt construction near an American Indian reservation in North Dakota. Energy Transfer Partners CEO Kelcy Warren said in a memo to employees that the four-state, ...

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UMH Properties Inc. Announces Grand Opening Event for Manufactured Home Model Home Sales Center in West Lafayette, Indiana

Woods Edge, manufactured home, sales center

Freehold, New Jersey–UMH Properties Inc. (NYSE:UMH) announces the grand opening of the Woods Edge Sales Center, situated at the back entrance of their manufactured home community in West Lafayette, Indiana.  Woods Edge was recently acquired by UMH Properties in October of 2015 and is just one of 98 UMH communities across the Midwest and Northeast. This Grand Opening Event will ...

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Oil prices hit by downward revision to global oil demand

global oil production

LONDON (AP) — Oil prices took a pounding Tuesday after a leading industry group said global oil demand growth is slowing by more than previously thought, largely because of a more pronounced economic slowdown during the third quarter of the year. In its September oil market report, the Paris-based International Energy Agency reduced its forecast for global demand growth to ...

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New Mexico governor appoints new environment secretary

A drilling rig operating in the Permian Basin near Farmington, New Mexico. (Image courtesy of Encana Corp)

SANTA FE, N.M. (AP) — New Mexico Gov. Susana Martinez has appointed a longtime employee of the state Environment Department to serve as the agency’s new leader. Butch Tongate’s appointment was announced Monday. He replaces Ryan Flynn, who resigned earlier this summer to take a job with an oil and gas industry group. Tongate’s career with the agency has spanned ...

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