Finance and Investing News for United States


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Offshore Oil Service Firms Dominate North American Energy Bankruptcies
Thursday, November 16, 2017 Offshore oil drilling and service companies are dominating the year's energy bankruptcies in North America, according to law firm Haynes and Boone.

Cash-Poor Alaska Eyes Foreign Capital To Jump-Start Energy Projects
Friday, October 20, 2017 Alaska is pursuing foreign investors for its oil and gas industry, hoping to advance recent discoveries.

Hess: World Needs New Offshore Oil Investments to Avoid Shortages
Thursday, September 28, 2017 Higher investments in offshore oil production are critical to avoiding a supply squeeze by 2020, as expanding shale output will not match projected demand increases in the next few years, U.S. oil producer Hess Corp said.

BP Files For IPO Of US Midwest, Gulf Coast Pipeline Assets
Monday, September 11, 2017 BP files for an initial public offering of its US Midwest and Gulf Coast pipeline assets.

Blackstone Adds $10 Billion in Energy Assets With Harvest Deal
Thursday, August 17, 2017 Blackstone Group LP will add $10 billion in assets by buying energy investor Harvest Fund Advisors.

Continental Resources CEO: Absolutely No New Debt
Wednesday, August 09, 2017 Continental Resources will fund future wells from cash flow and not take on any new debt, Chief Executive Harold Hamm says.

Continental Becomes Latest US Shale Producer To Cut Budget
Tuesday, August 08, 2017 Continental Resources cut its 2017 capital budget, the latest US shale oil producer to cut back on drilling and fracking equipment amid tepid crude prices.

Occidental Petroleum's Profit Beats As Prices For Chemicals Jump
Wednesday, August 02, 2017 Occidental Petroleum Corp posts a better-than-expected quarterly profit.

Marathon Oil Cuts Capital Budget After Posting Quarterly Loss
Wednesday, August 02, 2017 Marathon Oil Corp cuts its 2017 capital budget after posting a quarterly loss that fell in line with Wall Street's expectations.

The Energy Patch: Where Rights Offerings Are 'Sexy' Again
Tuesday, August 01, 2017 Energy businesses that are trying to exit bankruptcy are finding a savior in some of their own creditors.

Whiting Petroleum Slashes 2017 Budget After Quarterly Loss
Wednesday, July 26, 2017 Whiting Petroleum slashed its 2017 budget by 14%, the latest company to curtail spending due to weak commodity prices.

Hess Slashes 2017 Capital Budget After Quarterly Loss
Wednesday, July 26, 2017 Hess slashes its 2017 capital budget by 4% after posting a wider-than-expected quarterly loss on low crude prices and a dip in production.

Halliburton Sees N. America Rig Count Flattening, Shares Down
Monday, July 24, 2017 Halliburton reported impressive second quarter results but warned the growth in North American rig count was "showing signs of plateauing."

Unfazed by Low Prices, Bankers Remain Confident in Oil Lending
Friday, July 14, 2017 Fears of a long spell of low oil prices haven't shaken Wall Street's confidence in the sector.

The Rigzone Interview: Private Equity Cash Focuses on Oil, Gas Development
Thursday, July 13, 2017 Upstream private equity focuses on developing oil and gas assets, energy investment pro Claire Harvey tells Rigzone in exclusive interview.

Russians Drop Texas Oil Bid, Averting Trump Security Review
Monday, June 26, 2017 LetterOne's L1 Energy unit recently walked away from a deal to buy Texas oil producer over concerns the plan could be rebuffed by the CFIUS.

Fast Out of the Gate, Oil and Gas OFS IPO Companies Look To Grow
Friday, June 02, 2017 Newly public oilfield service companies, buoyed by strong balance sheets, look to devour weak rivals in the space, say experts at the Louisiana Energy Conference in New Orleans.

US Shale's Favorite Financial Trick Is Getting Less Attractive
Friday, May 12, 2017 US drillers have dramatically reduced their hedging activity, a move that could portend a break in the production gains that have upended global crude prices.

Hedge Funds Bail Just Before OPEC-Driven Oil Rally Vanishes
Monday, May 08, 2017 Before WTI crude nosedived on Thursday, money managers slashed bets on rising prices by 20%, according to US Commodity Futures Trading Commission data.

HollyFrontier Posts Bigger-than-expected Loss as Costs Rise
Wednesday, May 03, 2017 U.S. refiner HollyFrontier Corp reported a bigger-than-expected quarterly loss, hurt by a 61 percent rise in operating costs.

Devon Energy Plans To Divest $1B Assets; Profit Beats
Tuesday, May 02, 2017 Devon Energy says it will divest about $1 billion of its assets.

Marathon Petroleum Posts Surprise Profit as Refining Margins Rise
Thursday, April 27, 2017 Refiner Marathon Petroleum Corp reported a surprise quarterly profit on Thursday as refining margins jumped 18 percent despite challenging market conditions.

Trump's Tax Cut Proposal Shines Light on MLPs
Thursday, April 27, 2017 The Trump administration's proposal to slash tax rates on so-called pass-through businesses would deliver a windfall to investors in master limited partnerships.

ExxonMobil's Dividend Tradition Faces Challenge as Oil Sputters
Tuesday, April 25, 2017 ExxonMobil has boosted it's dividend every April for at least a decade, delivering more than $98 billion directly to shareholders.

Schlumberger Expects Reactivation Costs To Squeeze Margins
Friday, April 21, 2017 Schlumberger says a ramp up in drilling activity in North America boosted pricing for its services, but the cost of reactivating equipment idled during the downturn dragged down margins.

Oil Prices Could Tumble Again On US Shale Influx
Thursday, April 20, 2017 Oil prices could fall again by the end of the year due to a rapid increase in US shale production, Total chief executive says.

Bankers' Fading Fear of Oil Lending Is Latest Boon for Shale
Friday, April 14, 2017 Wall Street banks' growing optimism about the energy industry is the latest boost for US oil and natural gas producers already enjoying higher prices.

Shale, Not Stock, Fuels the Wealthiest U.S. County
Thursday, April 13, 2017 There are three good guesses for which US county has the the highest adjusted gross incomes (AGI).

Rig Contractor Ocean RIG Files For Bankruptcy Protection In US
Tuesday, March 28, 2017 Ocean RIG UDW filed for Chapter 15 bankruptcy protection in a US court.

Halliburton Warns Of First-Quarter Profit Miss As Costs Rise
Friday, March 24, 2017 Halliburton warns that its first-quarter profit would likely miss analysts' expectations.

Anadarko Expects Oil Sales Volumes To Rise 25%
Tuesday, March 07, 2017 Anadarko Petroleum says it expects a 25% rise in oil sales volumes in 2017.

FTC Approves Enbridge Deal To Buy Spectra With Conditions
Thursday, February 16, 2017 Enbridge and Spectra Energy have won US antitrust approval for a $28B merger that will create the largest North American energy infrastructure company.

Devon Energy Beats Profit Estimates As Cost Cuts Pay Off
Tuesday, February 14, 2017 Devon Energy reports a bigger-than-expected quarterly profit, as the US oil producer benefited from its cost-cutting initiatives.

US States See Favorable Conditions For Gas Tax Hikes
Wednesday, February 08, 2017 US states where gasoline taxes have not risen in decades are now discussing an increase and conditions might be ripe for the proposed hikes to win approval in state legislatures, tax experts say.

Plains All American's Profit Nearly Halves as Costs Jump
Tuesday, February 07, 2017 Plains All American Pipeline reports on Tuesday a quarterly profit that nearly halved, largely due to a 23.3 percent jump in costs.

Parsley Energy to Buy Assets in Permian Basin for About $2.8B
Tuesday, February 07, 2017 US oil and gas producer Parsley Energy says it will buy certain assets in the oil-rich Permian basin from a privately owned company for about $2.8 billion.

ConocoPhillips Loss Smaller Than Expected On Higher Oil Price
Thursday, February 02, 2017 ConocoPhillips reports a smaller-than-expected quarterly loss, helped by higher crude prices and lower costs.

Shell Nears Another $5B In Sales To Ease Debt Load
Thursday, February 02, 2017 Shell is nearing deals to divest $5 billion of assets.

ExxonMobil Profit Miss Shows No One Immune From Market Ravages
Tuesday, January 31, 2017 ExxonMobil's biggest profit miss in at least a decade is the starkest sign yet that major oil explorers remain mired in the deepest market slump in a generation.

Kemp: Oil Prices Stall as Hedge Funds Stop Adding to Longs
Monday, January 16, 2017 Hedge fund bullishness toward the price of crude oil appears to have peaked for the time being, with fund managers booking some profits after the strong rally in the final seven weeks of 2016.

Oil Currencies Uncoupled From Crude Swings Likely to Renew Link
Friday, January 13, 2017 Some breakups just aren't meant to last. That's what currency strategists are saying about the split between the price of oil and money.

C&J Energy Emerges From Bankruptcy With $220M Liquidity
Monday, January 09, 2017 C&J Energy Services is latest of oil and gas companies to complete financial restructuring brought on by the industry downturn.

Oil, Gas Explorers Headed for IPO Are Finding Buyers Circling
Friday, December 30, 2016 As oil prices stabilize and confidence returns to the patch, there's been an uptick in oil and gas companies filing to go public.

Oil IPOs Seen Ready to Bloom Across US as Crude Heads Higher
Wednesday, December 28, 2016 Rising crude prices and a deregulatory push in Washington may spur as many as 40 companies to hold IPOs over the next 2 years, says CEO at Houston-based investment bank Tudor Pickering Holt & Co.

Bond Buyers Left Bemoaning 13% Returns After Oil's Wild Year
Tuesday, December 27, 2016 Even investors who notched double-digit returns wound up trailing their benchmarks because they failed to take a chance on enough beaten-up energy.

Bonanza Creek, Other U.S. Energy Firms Announce Chapter 11 Plans
Friday, December 23, 2016 Oil and gas producer Bonanza Creek Energy said it would file for bankruptcy on or before Jan. 5, joining a long list of energy companies that have succumbed to a drop in oil prices.

Total, BP Step Up Investment in Small-Scale LNG Projects
Tuesday, December 20, 2016 Total's acquisition of an LNG project stake is the latest move by a major oil and gas firm to invest in small-scale LNG.

ConocoPhillips Tops 2016 Plan to Sell $1B in Assets
Thursday, December 15, 2016 Exceeding its forecast for the year by $3 million in sales, the US supermajor meets its goal to pay down $1.25 billion in debt.

Silverback Exploration To Sell Oil And Gas Assets For $855M
Monday, November 28, 2016 Privately held Silverback Exploration LLC will sell oil and gas assets for $855 million to Centennial Resource Development Inc, which is backed by energy private equity fund Riverstone Holdings LLC.