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Oil companies bid big bucks for Gulf drilling rights

Oil and gas companies pledged hundreds of millions of dollars for drilling rights in the Gulf of Mexico on Wednesday, during a high-stakes auction that demonstrated their enthusiasm for offshore...

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Freeport-McMoRan Oil and Gas slashes capital spending by 30 percent

Freeport-McMoRan Oil and Gas is evolving into a "leaner, longer" business plan as it slashes its planned capital spending in 2016 and 2017 from $2.9 billion down to $2 billion. It's $2.8 billion...

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