On Tuesday, Shares of Chesapeake Energy Corporation (NYSE:CHK), gained 12.53% to $4.58, despite crude oil futures fell around half a dollar early on Wednesday as the market remained under pressure from slowing demand and high supplies, while forecasts that a cold snap in Europe and the United States would be short-lived also hurt prices.

Crude prices have plunged by two-thirds since mid-2014 as soaring output from the Organization of the Petroleum Exporting Countries, Russia and the United States led to a global surplus of between half a million and 2 million barrels per day.

Chesapeake Energy Corporation produces oil and natural gas through acquisition, exploration, and development of from underground reservoirs in the United States. It holds interests in natural gas resource plays, counting the Haynesville/Bossier Shales in northwestern Louisiana and East Texas; the Marcellus Shale in the northern Appalachian Basin of West Virginia and Pennsylvania; and the Barnett Shale in the Fort Worth Basin of north-central Texas.

Shares of California Resources Corporation (NYSE:CRC), declined -2.38% to $2.05, during its last trading session.

December 15, 2015 - California Resources Corporation (CRC) declared that it anticipates total average production for the full year 2015 to improvement about one percent to an average of about 160 thousand barrels of oil equivalent per day and crude oil to improvement by about five percent to 104 thousand barrels per day. Cash costs, not taking into account interest charges, are predictable to fall by 11% from 2014 levels and 2015 capital investments are predictable to total about $400 million, enabling CRC to drill and complete 311 wells and invest about $160 million in its infrastructure and facilities.

CRC is actively working on a 2016 budget that will reflect our primary investment tenet of investing within cash flow from operations. Reflecting this principle and the recent further deterioration in oil prices, CRC is releasing both of its contracted drilling rigs in the San Joaquin basin moving into 2016. A rig will be maintained in the Los Angeles basin on an intermittent basis. Despite the drilling rig releases, the company presently intends to maintain a workover fleet of 30 rigs.

California Resources Corporation operates as an oil and natural gas exploration and production company in the State of California. It produces oil, natural gas, and natural gas liquids. The company holds interests in about 2.4 million net acres. It also gathers, processes, and markets oil and gas products, in addition to produces and sells power. The company is headquartered in Los Angeles, California.

Finally, McDermott International Inc. (NYSE:MDR), ended its last trade with 1.75% gain, and closed at $3.49.

December 8, 2015 - McDermott International, Inc., (MDR) declared it has been awarded a sizeable transport and installation contract by an upstream oil and gas operator for a project offshore Trinidad, West Indies.

The contract award comprises the transport and installation of a 1,000-ton deck and 1,600-ton jacket. It also covers the onshore fabrication, reel-lay and pre-commissioning of 14,000 feet of 14-inch pipeline that comprises the pull-in of a 12-inch riser at an existing offshore platform planned to be accomplished using McDermott vessels, Derrick Barge 50 (DB50) and the North Ocean 105 (NO105).

Project completion is predictable to be in the third quarter of 2016. The pipeline will be welded at McDermott’s new Gulfport, Mississippi, spoolbase.

McDermott International, Inc. operates as an engineering, procurement, construction, and installation company worldwide. The company operates through three segments: Asia Pacific, Americas, and the Middle East. It focuses on designing and executing offshore oil and gas projects.