City

FCStone LLC, a New York City-based futures commission merchant (FCM), has been slapped with a $1.5 million civil penalty by the Commodity Futures Trading Commission (CFTC) for “failing to diligently supervise its officers and employees” relating to its business as an FCM during 2008 and part of 2009.

FCStone LLC, a New York City-based futures commission merchant (FCM), has been slapped with a $1.5 million civil penalty by the Commodity Futures Trading Commission (CFTC) for “failing to diligently supervise its officers and employees” relating to its business as an FCM during 2008 and part of 2009.

A standout performance in the Permian Basin increased oil production 23% year/year in the first three months of this year, but it’s not the only racehorse in the stable, Devon Energy Corp.’s top executive said Wednesday. Encouraging results from the emerging Mississippian Lime, for example, may provide the “next leg of growth.”

The Bakken Shale, Hess Corp.’s “principal engine of growth.” averaged 65,000 boe/d in the first three months of this year, an increase of 55% from a year ago, the CEO told investors on Wednesday.

SandRidge Energy Inc. was able to come to terms with a hedge fund that sought to revamp the company’s leadership, but some shareholders apparently think the changes don’t go far enough.

The war of words between Oklahoma City-based SandRidge Energy Inc. and hedge fund TPG-Axon Capital, one of the exploration and production (E&P) company’s largest investors, was renewed last week, with both sides appealing to SandRidge shareholders for support.

The war of words between Oklahoma City-based SandRidge Energy Inc. and hedge fund TPG-Axon Capital, one of the exploration and production (E&P) company’s largest investors, was renewed this week, with both sides appealing to SandRidge shareholders for support.

The war of words between Oklahoma City-based SandRidge Energy Inc. and hedge fund TPG-Axon Capital, one of the exploration and production (E&P) company’s largest investors, was renewed this week, with both sides appealing to SandRidge shareholders for support.

An explosion in Mexico City on Thursday at Mexico’s state-owned Petroleos Mexicanos, or Pemex, which killed at least 33 and injured 121 or more, may have been caused by an accident, authorities said. According to reports, the explosion occurred in the basement of the B2 Building, a seven-story structure that serves as an annex adjacent to Pemex’s executive tower. The blast destroyed most of the annex’s first and second floors but the building had not collapsed. Pemex reportedly said the explosion may have been caused by an electrical failure or a problem with a natural gas line.