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Hercules Offshore to File for Bankruptcy a Second Time
Friday, May 27, 2016 Hercules Offshore plans to file for prepackaged Chapter 11 bankruptcy, just six months after the rig contractor emerged from bankruptcy protection.
Energy Transfer Seeks Right to Bail Out of Williams Takeover
Friday, May 27, 2016 Energy Transfer Equity seeks the right to kill its deal to buy Williams Cos. and to collect a $1.48 billion breakup fee from the energy pipeline operator, accusing it of breaching the terms of their merger.
Oil Slips for 2nd Day as $50 Level Sparks New Output Fears
Friday, May 27, 2016 Oil prices dipped for a second day in a row on Friday as some investors took profit on a surge to seven-month highs while others worried about higher production with the market hovering near $50 a barrel.
Saudi Aramco Lifted 2015 Oil Output to Record in Market Spat
Friday, May 27, 2016 Saudi Arabian Oil, the world's largest crude producer, increased output to an all-time high last year while keeping its reserves unchanged as the kingdom battles for market share.
Baker Hughes: US Oil Drillers Cut Rigs Despite Price Decovery
Friday, May 27, 2016 US oil drillers cut rigs for a ninth week in the last 10, energy services company Baker Hughes Inc said on Friday, even as crude prices this week tested a seven-month high at $50 a barrel.
Trump Heads to Shale Country to Make Energy Policy Pitch
Thursday, May 26, 2016 Donald Trump is poised to give his first substantive energy policy speech in North Dakota, a state eager to hear how he can help the industry recover from the worst downturn in a generation.
BP Seeks Longer Life for Thunder Horse with Water Injection
Thursday, May 26, 2016 BP's plan to enhance oil and gas recovery from Thunder Horse is part of its strategy of pursuing cost-effective opportunities within its current portfolio.
Talent in the Time of Bankruptcy: A Primer for the Oil and Gas Industry
Thursday, May 26, 2016 Oil and gas is inherently cyclical, and many companies will survive the current downturn. Some will even thrive, leveraging disruption to their advantage. But others, despite their best efforts, will not make it.
Oil Dips After Hitting $50/bbl as Glut Worries Resurface
Thursday, May 26, 2016 Oil prices hit $50 a barrel on Thursday for the first time in seven months, then bounced below that level and settled lower on the day as investors worried robust price gains could encourage more output and add to the global glut.
Trump Says Would Approve Keystone XL Pipeline If Elected
Thursday, May 26, 2016 Republican presidential contender Donald Trump said on Thursday that he would approve TransCanada's Keystone XL pipeline proposal if elected.
Experts on Lifting of the Crude Export Ban: We're All Winners
Thursday, May 26, 2016 Senior level executives in oil and gas believe lifting the crude export ban brings efficiency and stability to the industry.
Oil Investor Zukerman Dodged $45M in Taxes, US Says
Wednesday, May 25, 2016 Morris Zukerman spent 16 years at Morgan Stanley, overseeing its energy and merchant banking practices, before starting his own investment firm in the late 1980s. Along the way, he evaded more than $45 million in taxes, the US now alleges.
PE Commitments Alone Not Enough to Signal Asset Market Recovery
Wednesday, May 25, 2016 Just because a private equity firm makes a commitment to an oil and gas team doesn't mean that meaningful spending will take place.
Exxon, Chevron Shareholders Defeat Anti-Drilling Proposals
Wednesday, May 25, 2016 Big Oil investors voted to continue doing the thing that has defined the industry since the 19th century: drilling for crude.
Exxon, Chevron Battle Environmental Drive to Cut Big Oil's Reach
Wednesday, May 25, 2016 Climate activists seeking to pull investors into their camp are pushing Exxon Mobil and Chevron to limit money spent on exploration in favor of higher dividends and more share buybacks.
Negotiation 101: Strategies to Implement Before You Get in the Room
Wednesday, May 25, 2016 Newberry Executive Solutions leader Neena Newberry shares best practices for women negotiating in the workplace.
Oil Ends Session Up; Misses $50-target Amid Profit-taking
Wednesday, May 25, 2016 Oil prices rose about 2 percent on Wednesday after the US government reported a larger-than-expected drop in crude inventories, but profit-taking after the data kept prices below the $50 a barrel level that oil bulls had been hoping for.
Shell to Cut 2,200 More Jobs in Face of Weak Oil Prices
Wednesday, May 25, 2016 Royal Dutch Shell will cut a further 2,200 jobs, taking its target for layoffs to 12,500 by the end of the year, the Anglo-Dutch oil firm said on Wednesday, as it cuts deeper in the face of weak oil prices.
EIA: Crude Inventories Fall More Sharply Than Expected
Wednesday, May 25, 2016 US crude stocks fell last week as imports dropped and refineries cut output, while gasoline stocks increased and distillate inventories fell, the Energy Information Administration says.
Exxon Shareholders Pass Measure that May Put Climate Expert on Board
Wednesday, May 25, 2016 Voters at Exxon Mobil's annual meeting approve a measure to let minority shareholders nominate outsiders for seats on the board, meaning a climate activist could become a director at the world's largest publicly traded oil company.
Atlas Energy Pays CEO $73 Million Cash as It Becomes Penny Stock
Tuesday, May 24, 2016 Atlas Energy Group, a developer of oil and gas assets, paid CEO Ed Cohen $73.2 million in cash prior to its collapse and suspension from trading on the New York Stock Exchange.
Climate Change Takes Center Stage at Exxon, Chevron Annual Meetings
Tuesday, May 24, 2016 Exxon Mobil Corp and Chevron will face their toughest-ever push by shareholders concerned about a warming world at annual meetings on Wednesday.
Shell Faces Rising Investor Discontent Over Executive Pay
Tuesday, May 24, 2016 Investor discontent with Royal Dutch Shell over multi-million euro pay packages for its top executives rose sharply at this year's annual shareholder meeting on Tuesday.
Industry Insiders Compare, Contrast Shifts in North American Energy Markets
Tuesday, May 24, 2016 Industry insiders discuss the shifting dynamics of North American energy markets.
Oil Advances as US Crude Inventories Projected to Decline
Tuesday, May 24, 2016 Oil climbed before the release of US government data that is forecast to show crude inventories declined, easing a glut.
Oil Ends Up on US Crude Drawdown Hopes, Wall Street Rally
Tuesday, May 24, 2016 Oil prices rose on Tuesday as investors anticipated a weekly drawdown in US crude inventories that they hoped would boost prices closer to $50 a barrel, while a rally on Wall Street also lent support.
Oklahoma Regulators Raise Concerns on Quake Insurance Rate Hikes
Tuesday, May 24, 2016 Oklahoma regulators grappling with a massive increase in small earthquakes linked to growing oil and gas production say they are concerned with spiking rates for earthquake insurance coverage and diminishing competition.
Shell CEO Warns Renewables Shift Could Spell End If Too Swift
Tuesday, May 24, 2016 Royal Dutch Shell cannot switch too quickly to producing renewable energy without risking its dividend payments and even its very existence, the oil and gas group's chief executive warned.
Saudi Arabia's Economic Plan Shows It's Just Not That Into OPEC
Tuesday, May 24, 2016 Saudi Arabia, one of the founders of OPEC, is sounding the group's death knell.
Energy Bet of $459B Seen as Overlooked Risk for Insurers
Tuesday, May 24, 2016 US insurers are risking financial stability by holding $459 billion of energy-related investments without considering the "broad and deep" threat that climate change poses to the assets, according to an environmental advocacy group.
Waste Stream Provider BlueJack Receives Millions of Dollars in PE Funding
Tuesday, May 24, 2016 Waste stream management solutions provider BlueJack Energy receives an initial equity commitment of up to $100 million from Energy Spectrum Capital.
Oil Industry Maintains Country Club Culture During Downturn
Monday, May 23, 2016 Horizontal shales deep under the earth's surface are important to an energy company's balance sheet, but so is what happens above the grass line - especially if that grass is owned by an exclusive Texas country club.
Oil Down Modestly For 4th Day; Cushing Draw Limits Loss
Monday, May 23, 2016 Oil prices eased again on Monday after Iran vowed to ramp up output and as the number of rigs drilling for crude in the United States held steady after declining for eight straight weeks.
Freeport's Oil and Gas Business Scraps IPO
Friday, May 20, 2016 Freeport-McMoRan's oil and gas business has withdrawn its initial public offering as weak oil prices dent valuations of oil producers.
Oil Slips; Pressured by Strong Dollar, Stubborn Glut
Friday, May 20, 2016 Oil prices slipped on Friday as a stronger dollar encouraged investors to cash in on a second week of gains and the market stayed focused on whether unplanned supply outages were reducing a stubborn global glut.
What Will Drive LNG Growth for the Next Decade?
Friday, May 20, 2016 Pay attention to seven factors, Deloitte report advises.
CFTC: Speculators Cut US Nat Gas Net Longs
Friday, May 20, 2016 US natural gas speculators cut net long positions for a third week in four, betting prices would remain low in future months to encourage power generators to burn more of the record high inventory of fuel left after a warm winter.
Adviser: Big Demand for Debt Restructuring Services in Emerging Markets
Thursday, May 19, 2016 Debt restructuring advisers are being kept busy by emerging markets and demand for their services is likely to increase as weak commodities and tougher capital markets batter the sector, a top restructuring executive told Reuters.
Getting Real About Oil, Gas and its Future Workforce
Thursday, May 19, 2016 Co-founders of API's young professionals' organization speak candidly about challenges associated with the industry and how they're being proactive in addressing them.
FMC Technologies to Merge With $6.2 Billion Technip to Cut Costs
Thursday, May 19, 2016 FMC Technologies agrees to merge with French peer Technip in an all-stock deal, creating a $13 billion oil-services company with more clout after crude’s collapse.
Global Oil, Gas Layoffs Exceed 350,000
Thursday, May 19, 2016 Houston consulting firm Graves & Co. estimates more than 350,000 layoffs in oil and gas since the beginning of the downturn.
McDermott Joins 14 Other Offshore Firms to Establish Industry Standards
Thursday, May 19, 2016 McDermott joins 14 other offshore companies to establish engineering industry standards.
AEP Says Spin Offs Won't Be Hit by Closure of McClendon's Firm
Thursday, May 19, 2016 The closure of American Energy Partners after the sudden death of founder Aubrey McClendon will not affect companies it formed and spun off with Texas-based private equity firm Energy & Minerals Group, according to an AEP statement seen on Thursday.
Incoming UN Climate Chief Seeks Swift Action: At Odds With Trump
Thursday, May 19, 2016 The United Nations's incoming climate chief said on Thursday she will push for rapid action under a UN accord to slow global warming and expressed hopes that US GOP presidential candidate Donald Trump will drop calls for a renegotiation if elected.
Walter Energy Defeats Union Bid to Save Contracts and Benefits
Thursday, May 19, 2016 Walter Energy defeated an attempt by union workers to salvage job contracts and keep retiree benefits after a judge upheld a lower court ruling allowing the bankrupt coal producer to reject labor agreements.
Travelers: Motor Vehicle Accidents Major Cause of Oil, Gas Worker Injuries
Wednesday, May 18, 2016 Material handling, slips, trips and falls, and motor vehicle accidents (MVAs) were the most frequent causes of accidents in the oil and gas industry, according to a recent study by insurance company Travelers.
Trump Threat to Renegotiate UN Climate Deal Causes Dismay Abroad
Wednesday, May 18, 2016 Donald Trump's threat to renegotiate the global accord on climate change if elected US president causes dismay abroad, with many experts saying it was in his interests to embrace a deal seeking to end dependence on fossil fuels.
In North Dakota's Oil Patch, A Humbling Comedown
Wednesday, May 18, 2016 Dave Van Assche's postal services business he had built over three short years was thriving, catering to the tens of thousands of people who, like him, had streamed into North Dakota to strike it rich during an unprecedented oil boom.
Halcon Reaches Pact with Creditors on Prepackaged Bankruptcy Plan
Wednesday, May 18, 2016 Halcón Resources, which produces oil in Texas and North Dakota, says it plans to file for a prepackaged bankruptcy that would wipe out $1.8 billion in debt and help it survive the drop in crude prices.
Texas Energy Regulator Faces Questions on Oil-linked Quakes
Wednesday, May 18, 2016 An oil and gas regulator in the top US energy-producing state of Texas cast doubt on research linking growing seismic activity to petroleum production, following the release of a study arguing most of the state's earthquakes are manmade.
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