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Halcón to focus on key shale plays, scale back TMS exploration

Halcón Resources Corp. is scaling back its drilling plans in the Tuscaloosa Marine Shale (TMS). Because of the oil price slump that has many companies recalculating profit margins, Halcón is cutting down on activity in the TMS in Louisiana and Mississippi. Drilling in the TMS is costly and has yet to yield a great deal of profit. The low prices make ...

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Chesapeake Energy quarterly profit and output rise

Nov 5 – Chesapeake Energy Corp, the second-largest U.S. producer of natural gas, on Wednesday reported a bigger-than-expected 8 percent increase in third-quarter profit on higher output from lower-cost shale wells in Texas, Louisiana and Ohio. Shares of Chesapeake rose 6.3 percent to $22.64 in morning New York Stock Exchange trading. The results show Chief Executive Officer Doug Lawler’s efforts ...

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