Oil and Gas

Oilfield services company Baker Hughes Inc. says the number of rigs exploring for oil and natural gas in the U.S. declined by nine this week to 1,922.

BP has asked a federal judge to reconsider a ruling that could cost the oil giant around $18 billion in additional fines stemming from the 2010 Deepwater Horizon oil rig explosion.

The U.S. rig count peaked at 4,530 in 1981 and bottomed at 488 in 1999.

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The struggle for control of the regional flood authority board and its lawsuit against oil and gas companies for wetlands damage has taken an unexpected turn.

U.S. District Judge Carl Barbier agreed several weeks ago to change the compensation formula for any future payments, but he ruled Wednesday that a deal is a deal when it comes to money BP has already paid out.

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