Capital Budget Annoucements News

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KXL Indigenous Investors Plan to Get Financing by Q1
Friday, November 27, 2020The indigenous group seeking to buy a stake in TC Energy Corp.'s Keystone XL oil pipeline expects to secure financing by the first quarter of next year.

Noble Shares Reorganization Update
Tuesday, November 24, 2020Noble Holding Corporation plc (OTC-PINK: NEBLQ) announced Monday that the United States Bankruptcy Court for the Southern District of Texas has issued an order approving the company's joint plan of reorganization.

GE Makes Deal for Vietnam LNG Project
Monday, November 23, 2020General Electric Co. and a Vietnamese company signed a memorandum of understanding to develop an LNG power plant near Ho Chi Minh City.

Aramco Awards Major Deals and More
Saturday, November 21, 2020Here are some of Rigzone's top upstream stories during the last week, just in case you missed them...

McDermott Secures $560MM in New Capital
Thursday, November 19, 2020McDermott International has announced that it has secured approximately $560 million in new capital through a series of transactions expected to close by the end of the year.

$2B Pacific LNG Export Project Advances
Wednesday, November 18, 2020The project site in Ensenada, Baja California, Mexico, which includes an LNG regasification terminal. PHOTO SOURCE: Sempra Energy/Cision

Aramco Keeps Dividend
Tuesday, November 03, 2020Saudi Aramco failed to generate enough cash to cover its dividend, yet left the payout unchanged at $18.75 billion for the third quarter even as profit fell 45% and debt continued to rise.

XOM Warns of $30B Shale Writedown
Friday, October 30, 2020Exxon Mobil Corp. warned it may take up to $30 billion in writedowns on natural gas fields after posting a historic loss despite sweeping budget and job cuts.

ABB Unveils New Industrial Project Tool
Friday, October 23, 2020ABB contends it can reduce capex by up to 40 percent and compress delivery schedules by up to 30 percent.

Saudi Aramco Trims Cost of Yanbu Project
Monday, October 19, 2020Aramco and its subsidiary Saudi Basic Industries Corp. intend to incorporate existing facilities into the Yanbu project instead of building an entirely new one.

TechnipFMC Bags Multimillion Deal and More
Saturday, October 10, 2020Here are some of Rigzone's top upstream stories during the last week, just in case you missed them...

NES Global Talent Reports Strong 2019 Results
Tuesday, October 06, 2020NES Global Talent, which recently combined with the Fircroft Group, revealed that it achieved 'record results' for the year ending October 31, 2019, back when it was a single entity.

Permian Jewel Preps for Biden And More
Saturday, October 03, 2020Here are some of Rigzone's top upstream stories during the last week, just in case you missed them...

Oasis Petroleum Files Chapter 11
Thursday, October 01, 2020Oasis Petroleum (NASDAQ: OAS) has filed voluntary petitions for reorganization under Chapter 11 of the United States Bankruptcy Code.

$2B North Sea Field Gets Green Light
Monday, September 28, 2020Equinor (NYSE: EQNR) has decided to develop the Breidablikk field in the North Sea.

Hermitage Announces NYSE Trading Suspension
Monday, September 28, 2020Hermitage Offshore Services has received notification from the New York Stock Exchange that its common stock has been suspended from trading.

Aramco Shelves $20B Petchem Plan
Thursday, September 03, 2020Saudi Aramco is shelving multi-billion-dollar petrochemical and gas projects as the state oil giant's determination to preserve its dividend forces it to cut back on major investments.

Whiting Petroleum Emerges from Chapter 11
Wednesday, September 02, 2020Whiting Petroleum Corporation (NYSE: WLL) has successfully completed its financial restructuring and emerged from Chapter 11 protection.

150+ North American Producers in Chapter 11 Risk
Monday, August 24, 2020Unless prices strengthen further, about 150 more North American exploration and production companies will need to seek Chapter 11 protection through 2022.

Anadarko Basin Player Files Chapter 11
Monday, August 17, 2020Chaparral Energy Inc has voluntarily filed petitions for relief under Chapter 11 of the U.S. Bankruptcy Code in accordance with a restructuring support agreement it has made.

US Shale Producers at a Crossroads
Tuesday, August 11, 2020U.S. shale producers are at a crossroads as they find themselves more efficient than ever.

XOM Tears Up Debt Fueled Plan
Friday, August 07, 2020Here are some of Rigzone's top stories during the last week, just in case you missed them...

Exxon Says 20 Percent of Reserves Threatened
Thursday, August 06, 2020Exxon Mobil Corp. warned that low energy prices may wipe as much as one-fifth of its oil and natural gas reserves off the books.

Gulf of Mexico Operator Files Chapter 11
Wednesday, August 05, 2020Fieldwood Energy has filed a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code.

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.

ExxonMobil Rips Up $30B Growth Plan
Monday, August 03, 2020As recently as March, the Texas giant had pinned its future to huge capital spending on oil and natural gas.

Exxon Loses World No 2 Energy Firm Title
Monday, July 27, 2020Reliance Industries toppled Exxon Mobil to become the world's largest energy company after Saudi Aramco.

BJ Services Files Chapter 11
Tuesday, July 21, 2020BJ Services has voluntarily filed petitions under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the Southern District of Texas.

100+ Oil Firms Write Down $92B in 1Q
Tuesday, July 21, 2020More than 100 global oil and natural gas companies wrote down a total of $92 billion worth of assets during the first quarter of 2020.

McDermott Completes Restructuring
Wednesday, July 01, 2020McDermott International has successfully completed its restructuring process.

Shell Expects Up To $22B 2Q Impairment Charge
Tuesday, June 30, 2020Royal Dutch Shell plc expects aggregate post-tax impairment charges in the range of $15 billion to $22 billion in the second quarter of this year.

Is Chesapeake Energy Going Out of Business?
Tuesday, June 30, 2020Is Chesapeake Energy Corporation going out of business?

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.

Polarcus Shrinks Workforce by 20 Percent
Tuesday, June 23, 2020Various measures should reduce the company's operating costs by about $7 million.

Primeline Energy Insolvent Due to CNOOC Debt
Tuesday, June 23, 2020Its arbitration claims for breaches of contract and damages were dismissed.

Petrofac Clinches Another Contract
Friday, June 19, 2020Here are some of Rigzone's top stories during the last week, just in case you missed them...

Enbridge Offers Employees Early Retirement, Severance
Friday, June 19, 2020About 800 employees have voluntarily left the company.

BP Write-Down Implications Are Very Real
Tuesday, June 16, 2020The implications of BP's recently announced write-down are 'very real', according to Wood Mackenzie.

BP Writes Off Billions
Monday, June 15, 2020BP will make the biggest write down in a decade on the value of its business.

Extraction Gives Execs Bonuses Ahead of Possible Default
Friday, June 12, 2020The company didn't make an interest payment on its bonds last month.

Chesapeake Plans Bankruptcy
Tuesday, June 09, 2020Chesapeake is preparing a potential bankruptcy filing, according to people with knowledge of the matter.

Prosafe Gets Extension on Forbearance Agreement
Thursday, June 04, 2020The extension is through the end of June.

Apache Listing Solely on Nasdaq
Friday, May 29, 2020Apache Corporation has revealed that it will list its common stock solely on the Nasdaq Stock Market from June 9.

NOCs to Slash Exploration Budgets by Over a Quarter
Thursday, May 21, 2020National oil companies around the world will slash their exploration budgets by over a quarter on average in 2020, Wood Mackenzie estimates.

Australia Subsea Hub to Promote SME Market Entry
Thursday, May 21, 2020Subsea Energy Australia is headquartered in Perth, whose skyline appears above.

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.

Oil Expected to Reach $100 Again
Friday, May 08, 2020Here are some of Rigzone's top stories during the last week, just in case you missed them...

Oxy Takes $1.4B Writedown
Wednesday, May 06, 2020Occidental Petroleum Corp. took a $1.4 billion writedown related to an investment in a pipeline affiliate.

Total Targets Carbon Neutrality in 2050
Tuesday, May 05, 2020Total SA set out bolder commitments to eliminate most of its carbon emissions by 2050, while curbing spending on oil and gas projects due to the crude-price slump.

Sabic Suspends All but Essential Spending
Monday, May 04, 2020Saudi Basic Industries Corp. is suspending new capital expenditure after an oil-price slump and coronavirus-related lockdowns hammered demand for chemicals.