Business briefs: Number of active drilling rigs rises by 21

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Number of active drilling rigs rises by 21

The number of drilling rigs exploring for oil and natural gas in the U.S. increased by 21 this week to 1,069. Texas’ rig count rose by 13 to 411, accounting for more than half the increase, according to data published by Houston-based oil field services firm Baker Hughes. However, the rig count is still only slightly more than half the 1,971 active rigs a year ago. There were 68 rigs drilling Friday for natural gas in the Barnett Shale in North Texas, down two from a week ago, according to RigData. There were 22 rigs in Tarrant County, 13 in Johnson County, 11 in Wise County and eight in Denton County. — Jack Z. Smith

Grocer is hiring part-time order selectors

Grocery retailer Aldi is hiring part-time order selectors for its Denton distribution center that will open in 2010. Interview appointment vouchers and applications will be handed out from 1 to 6 p.m. Friday and 8 a.m. to 4 p.m. Nov. 7 at the distribution center, 2500 Westcourt Road. Selectors start at $16 per hour and work 25 to 30 hours a week. They ensure that product orders are filled. A high school diploma or equivalency is required. — Sandra Baker

Online: www.alditexasjobs.com

Profit down 51% from last year, Chevron says

Chevron said Friday that it pumped its way through a weak third quarter, producing more oil as prices recovered from a severe plunge this year. Chevron, based in San Ramon, Calif., and the second-largest U.S. oil and gas producer, said profit dropped 51 percent to $3.83 billion, or $1.92 per share, from the same period last year, one of the best for oil companies as crude contracts soared above $147 a barrel. "We continued to experience weak margins on the sale of gasoline and other refined products," Chairman and CEO Dave O’Reilly said in a statement. Chevron boosted revenue by increasing oil production by 11 percent, but earnings for its refining business plummeted 89 percent to $194 million. Its exploration and production division earned $3.6 billion.

— The Associated Press

Billionaire investor backing CIT’s restructuring

New York-based commercial lender CIT Group said Friday that billionaire investor and bondholder Carl Icahn agreed to support the restructuring plan amid reports that CIT may soon file for bankruptcy protection. Icahn also agreed to provide CIT with a $1 billion line of credit. Icahn has been an outspoken critic in recent weeks of CIT’s plan to restructure its debt in an effort to avoid collapse. CIT, one of the largest lenders to small and midsize businesses, has been trying to reduce its near-term debt burden by $5.7 billion. On Wednesday, CIT received a $4.5 billion line of credit from lenders and other bondholders who had already provided it with $3 billion in financing over the summer. — The Associated Press

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