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BP Cuts Dividend for First Time Since 2010
Tuesday, August 04, 2020BP cut its dividend for the first time in a decade, removing a cornerstone of its investment case.
Deutsche Bank Drops Some Oil Financing
Tuesday, July 28, 2020Deutsche Bank has adopted a new fossil fuels policy.
Equinor In Surprise Profit
Friday, July 24, 2020Equinor reported a surprise profit in the second quarter.
Woodside Warns of $4.3B Post Tax Hit
Wednesday, July 15, 2020Woodside Petroleum has warned that it expects to take a post-tax hit of $4.37 billion in its financial results for the first half of the year.
BP Investing $70MM in GGEF
Wednesday, July 08, 2020BP is investing $70 million in India's Green Growth Equity Fund.
FAR in Default on Senegal Project
Thursday, June 25, 2020On top of the default announcement, FAR also revealed more job losses and executive pay cuts.
Hamm Adds $57MM of Faith In Continental
Thursday, June 25, 2020Billionaire wildcatter Harold Hamm bought more shares in the shale drilling company he controls as oil prices recover from their historic plunge.
Primeline Energy Insolvent Due to CNOOC Debt
Tuesday, June 23, 2020Its arbitration claims for breaches of contract and damages were dismissed.
Extraction Oil & Gas Files Bankruptcy
Monday, June 15, 2020It's the latest producer to succumb to the energy industry's slump.
Extraction Gives Execs Bonuses Ahead of Possible Default
Friday, June 12, 2020The company didn't make an interest payment on its bonds last month.
Vista Proppants and Logistics Files for Chapter 11
Thursday, June 11, 2020It has secured an $11MM credit facility to cover costs and operations during the restructuring.
Chesapeake Energy Plunges 74 Percent
Wednesday, June 10, 2020Shares of Chesapeake Energy Corp experienced another wild session.
Small Shale Stocks Lead Energy Rally Post OPEC Extension
Monday, June 08, 2020Small shale producers and offshore drillers are among stocks soaring after the wider OPEC+ group agreed to extend output curbs.
Prosafe Gets Extension on Forbearance Agreement
Thursday, June 04, 2020The extension is through the end of June.
Pioneer Energy Emerges From Chapter 11
Wednesday, June 03, 2020The restructuring slashed the company's debt by about $267 million.
Unit Corp. Reorganizing Through Bankruptcy
Wednesday, May 27, 2020The move should reduce the company's debt obligations by more than $650 million.
BW Offshore Records $233MM Impairment for 1Q
Wednesday, May 27, 2020The impairment reflects uncertainty on FPSO redeployment in the current market turmoil.
Shale Faces Multibillion-Dollar Hedging Crunch
Thursday, May 21, 2020U.S. shale drillers spooked by the epic meltdown in oil markets are trying to figure out how to protect themselves in the future.
Gavilan is Latest Shale Player Pursuing Bankruptcy
Tuesday, May 19, 2020The Eagle Ford firm pointed to market turmoil and ongoing squabbles with Sanchez Energy as filing factors.
Petrobras Books Hefty 1Q Impairment on Oil, Gas Assets
Monday, May 18, 2020The company wrote off the entire value of its shallow-water assets.
Why Some Asian NOCs are Sticking to Spending Plans
Monday, May 18, 2020Some Asian national oil companies are sticking to their spending plans despite the falls in price and demand.
Hornbeck Offshore Seeking Lender Approval for Chapter 11
Friday, May 15, 2020The company plans to start its chapter 11 process in the U.S. Bankruptcy Court within the next few days.
Post Oak Affiliate Sells Precision Compression Interest
Tuesday, May 12, 2020Post Oak originally provided funding for the start-up and growth of the business.
Chesapeake Revives Going Concern Warning
Tuesday, May 12, 2020The outlook for the company's debt restructuring effort is teetering.
Aramco Plans $75B Dividend
Tuesday, May 12, 2020Saudi Arabia's state-controlled oil giant retained its massive dividend despite a 25 percent plunge in profit.
Energy Spectrum Closes $969MM Midstream Fund
Monday, May 11, 2020The firm plans to take advantage of midstream opportunities amid significant price dislocations in the current market.
Oil Execs Urge Norway to Revise $10B Package
Friday, May 08, 2020Two of Norway's most influential oil executives asked the government to change a tax proposal that is meant to boost investment.
Exxon Sees Historic Loss on Rout With Chevron in Retreat
Friday, May 01, 2020Exxon Mobil posted its first loss in at least three decades and Chevron slashed $2 billion off its spending plan.
XTO Energy Extends Offering to Buy Trust Units
Thursday, April 30, 2020The offer is now scheduled to expire on May 12, 2020.
Shell Cuts Dividend for First Time Since WWII
Thursday, April 30, 2020Royal Dutch Shell cut its dividend for the first time since the Second World War.
Shell Dividend Cut Dubbed Sensible
Thursday, April 30, 2020Shell's move to cut its dividend by 66 percent has been described by Wood Mackenzie's Tom Ellacott as a 'sensible and prudent action'.
Trump Poised to Offer Bridge Loans to Ailing Oil Companies
Wednesday, April 29, 2020The Trump administration may announce as soon as Thursday a plan to offer loans to the ailing oil industry.
US Silica Holdings Execs, Board Take Pay Cut
Tuesday, April 28, 2020They have volunteered to take up to a 20 percent temporary base salary reduction.
Energy Turnaround Pro Sees Demand Destruction as Top Issue
Tuesday, April 28, 2020SierraConstellation Partners' Basil Karampelas says oil and gas firms need to focus on three themes.
Hamm's Continental Sued Over Failed $200MM Oil Deal
Tuesday, April 28, 2020It's the latest example of an oil and gas deal running into snags amid the unprecedented plunge in crude prices.
Whiting's Bankruptcy Cuts $2.3B of Debt
Friday, April 24, 2020The Denver-based company agreed to give a 97 percent stake in the reorganized company to its noteholders.
Oil Giant Slashes Dividend to Weather Crash
Thursday, April 23, 2020Equinor ASA became the first major oil company to cut its dividend amid an historic market rout.
Chesapeake Adopts Poison Pill After Shares Plummet
Thursday, April 23, 2020While the company has pushed to transition into an oil explorer, that move could prove pointless after crude's historic crash.
Oil Lenders Might Hit the Brakes on Bankruptcies
Wednesday, April 22, 2020Some creditors of bankrupt energy drillers may want to freeze their court fights awhile.
Camelback Midstream Secures $400MM From ArcLight
Tuesday, April 21, 2020The company will pursue opportunities in the current "compelling acquisition environment".
Tapstone Energy Emerges From Restructuring
Tuesday, April 21, 2020Its net debt has improved by about $500 million from start to finish.
Schlumberger Revenues Tumble Under Double Black Swan
Monday, April 20, 2020The 1Q results also include a $8.5B pretax charge, driven by the sharp decline in market valuations.
Halliburton Slashes Spending to Brace for Demand Declines
Monday, April 20, 2020It set 2020 capital outlays at $800 million, 33 percent below previous guidance and the first sub-$1 billion budget since 2016.
Yuma Energy Files for Bankruptcy
Friday, April 17, 2020Yuma will auction all its assets within 90 days of the bankruptcy filings.
Cimarex to Cut Up to 60 Percent of Planned Capex
Friday, April 17, 2020The company has deferred completion activities and will drop all but one drilling rig in May.
ConocoPhillips Unveils Curtailment Plans
Friday, April 17, 2020The company has cut 2020 cash uses by more than $5B within the past month.
Weatherford Sees Improvements in 1Q Financial Results
Thursday, April 16, 2020However, in the current operating environment, the company's debt levels are still too high.
SAExploration Exploring Strategic Alternatives
Thursday, April 16, 2020SAE has retained Imperial Capital LLC as its financial advisor to assist with the process.
Hornbeck Eyes Bankruptcy, Negotiates Debt Deal
Wednesday, April 15, 2020The arrangement includes a $75MM DIP loan and filing for Chapter 11 bankruptcy protection.
Oxy Dilutes Icahn to Pay Buffett
Wednesday, April 15, 2020Oxy issued $257 million in common shares to honor a quarterly payout on Berkshire Hathaway's preferred stock.
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