Oil Search declined 2.2% in Sydney, while Woodside Petroleum sank 5.8% after delivering disappointing production guidance for fiscal 2012.
The spiralling price of crude has caused oil companies to search even harder for it.
Over the years, wells have plunged deeper into the Gulf in search of oil.
Even amid a global search for oil alternatives, it's hard to justify GSE's trailing earnings multiple of 160.
In the early 1990s, Ratio's chief executive, Yigal Landau, from a family of infrastructure magnates, and Ligad Rotlevy, whose family textile business goes back 80 years, formed the company to search for oil onshore.
The state of Louisiana said Tuesday that of 343 operational skimmers, only 40 were sent out Monday in search of oil -- and they came back to shore with 100 cubic yards of debris, but not even one gallon of oil.
While demand had continued to rise, domestic producers had fallen behind in the search for new oil reserves.
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But nowhere has America pursued its search for new oil with more ferocity and dedication than the west coast of Africa, particularly the Gulf of Guinea.
Like the U.S. shale gas industry there is plenty of evidence from historic oil exploration to support the Australian search for unconventional gas.
Chesapeake has already moved 72 rigs to the Eagle Ford, Anadarko, and Utica basins in search of more profitable oil and liquids.
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It is looking for inspiration anywhere, from Car magazine to the way that the oil industry polices itself, in its search for ways of promoting greater interest in transparency.
As a function of Italy's search for a reliable source of oil, AGIP, a division of ENI, is now a major global petroleum company.
Meanwhile, private firms push ever further into remote areas in search of lumber, minerals, oil and gas, creating a whole new series of potential flashpoints.
In search of hard currency for its oil and weapons, Russia had already established new ties with more prosperous South Korea just before the Soviet collapse.
In that scenario, as demand for oil continues to grow despite dwindling supplies, and as the search for substitutes proves fruitless, economic catastrophe ensues.
The plan is to keep gobbling up old shallow fields, using new technology to get more oil and gas out of them, all the while drilling deeper in search of the motherlode.
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As a major supplier of oil and natural gas, Russiawill play an increasingly vital role in American life as we search for alternative sources of fuel.
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He cites an example where two people from the same area of the United States search for BP - one finds investment information, the other news about the oil spill.
Relying on oil and gas wealth, the country has yielded only a handful of entrepreneurial successes: search engine Yandex, e-mail service Mail.ru, cyber security giant Kaspersky Labs, and cloud computing company Parallels.
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Very often, energy firms will search for as much crude as they believe economically recoverable at the current or projected price of oil.
They are the modern day evolution of the gamblers, harlots, snake oil salesmen and con artists who followed the pioneers who settled the American west or the risk takers who search for gold in the hills.
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