exploration

Exxon Mobil, Chevron and ConocoPhillips are all trading near multi-year highs, and even BP shares have done well recently. Still, while the high oil prices that have been pinching consumers have been great for the industry, there are good reasons not to count on those high stock values lasting.

Dana Petroleum (DNX), a British exploration company, received a hostile takeover bid of £1.87 billion ($2.9 billion) from South Korea's state-owned oil company Knoc. The bid is worth £18 a share, a 59% premium over Dana Petroleum's share price before Knoc's interest was first made...

An out-of-control rig fire off off the coast of Western Australia could prove a clarion call for the hazards of deep-sea drilling. Since Monday, a fire emanating from an oil and gas wellhead in the Montara Field has engulfed a drilling rig called West Atlas being used by Thai company PTTEP...