4 Energy Stock Stories Making Big Headlines Today

Halliburton Co. (NYSE:HAL): Closing price $46.41

Halliburton, Schlumberger Ltd., and Baker Hughes Inc. are being sued regarding allegations that they conspired to hike up prices and ruin oilfield service rivals in the booming domestic market for hydraulic fracturing services. The claims against divisions of the companies are linked with the Justice Department’s July 25 announcement that it is looking at the “possibility of anticompetitive practices” in the hydraulic fracturing sector of the oilfield services industry, said the proposed class-action lawsuit filed Wednesday in federal court in Corpus Christi.

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Chevron Corp. (NYSE:CVX): Closing price $126.44

Chevron will shell out $384,000 as penalty for alleged violations of the Clean Air Act at its refinery in Salt Lake City. The Environmental Protection Agency announced Chevron’s resolution Wednesday for alterations the energy major made in operating a portion of its refinery that were said to have caused excess emissions of nitrogen oxides. These oxides add to acid rain, ground-level ozone and destruction of ecosystems, which can bring lung irritants that may lead to respiratory illnesses, says the EPA.

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ConocoPhillips (NYSE:COP): Closing price $66.09

ConocoPhillips posted a higher-than-expected profit thanks to higher oil and gas production, and raised its full-year production projection. The firm said Thursday that output from continuing operations jumped to 1.51 million barrels of oil equivalent per day during the second quarter from 1.49 million year-on-year. Conoco is spending a lot to boost crude output in the United States, and said that its production from the Eagle Ford shale field in Texas nearly doubled to 121,000 BOE per day.

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Royal Dutch Shell (NYSE:RDSA): Closing price $64.47

Shells profits have been hit by increasing costs, oil theft in Nigeria, and weak domestic shale liquids output, driving spending upwards and leading to uncertainty regarding output growth. These pressures caused the outgoing Chief Executive Peter Voser to bail on the firm’s target to deliver 4 million barrels per day of production by 2017, and also led to a $2.2-billion charge against the group’s United States shale business. Voser’s abandonment of output targets sets Shell into line with other oil firms, and demonstrates how the industry struggles to translate investment into oil.

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