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Business briefs: More drilling rigs operating in U.S.

More drilling rigs operating in U.S.
Drilling rigs operating in the U.S. rose by 10 to 1,723, the most since December 2008, according to Baker Hughes. Texas rigs rose 4 to 753. U.S. oil rigs were up 21 to 763, and while natural gas rigs fell 13 to 948. In the Barnett Shale, active rigs fell by 9 to 83, according to RigData. Counties were led by Tarrant at 29, followed by Montague with 14, Johnson with 12 and Wise with 11.

-- Star-Telegram
U.S. trade deficit falls as exports surge
The U.S. trade deficit fell to its lowest level in nine months, as growing demand for American goods overseas and a falling dollar pushed exports to their highest level in more than two years. The trade deficit narrowed to $38.7 billion in October, the Commerce Department reported Friday, down from September's deficit of $44.6 billion. Exports rose 3.2 percent to $158.7 billion, the highest since August 2008, driven by machinery, farm products and autos. Imports dipped 0.5 percent to $197.4 billion.

-- The Associated Press
GM's CEO says salary limits hinder rebound
General Motors Chief Executive Officer Dan Akerson said Friday that the automaker's attempt to rebound from bankruptcy is being hindered by salary limits the government put on executives at companies that accepted federal bailouts. Akerson told the Economic Club of Washington, D.C., that the company faces many challenges and suggested relaxing the pay limits. He said he was meeting later in the day with federal officials who oversee such compensation. Akerson said there will be no salary increases in 2011 for about 26,000 white-collar workers.

-- The Associated Press
Occidental to sell Argentine operation
Occidental Petroleum said Friday that it will sell its operation in Argentina to focus on U.S.-based oil and gas fields. Occidental will buy South Texas fields from Royal Dutch Shell worth about $1.8 billion and producing about 200 million cubic feet per day of gas equivalent.
Occidental will also pay $1.4 billion to a private seller for about 180,000 acres in North Dakota producing about 5,500 barrels of oil equivalent per day.

-- The Associated Press
Tenet bid not up to value, analysts say
Analysts say Community Health Systems' $3 billion bid for Dallas-based hospital operator Tenet Healthcare doesn't reflect Tenet's value and may spark a bidding war. On Thursday, Community disclosed its offer of $6 per share for Tenet after Tenet's board rejected a possible deal.
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