$1.235 billion MEG Energy deal to refinance debt, part of capital restructuring By Jonathan Schwarzberg NEW YORK, Jan 19 (Reuters) – Canadian oil and gas company MEG Energy is testing the capacity for oil-related loans with a US$1.235 billion deal that will be used to refinance debt and is part of an overall capital restructuring. The […]
MEG Energy seeks leveraged loan as market reopens to oil and gas Read More »
Peabody Energy looking to transfer funds from bankruptcy estate before plan approved By Tracy Rucinski CHICAGO, Jan 18 (Reuters) – The U.S. government’s bankruptcy watchdog objected on Wednesday to certain parts of Peabody Energy Corp’s plan to slash $5 billion of debt and exit Chapter 11, calling a proposed $240 million in transaction fees “exorbitant,” court
U.S. watchdog calls Peabody Energy bankruptcy plan fees ‘exorbitant’ Read More »
Kinder Morgan revenue falls from $3.64 billion to $3.39 billion Jan 18 (Reuters) – Kinder Morgan Inc reported lower-than-expected quarterly revenue for the ninth straight quarter as its pipelines transported lower volumes of oil and gas. Pipeline companies, once seen as insulated from commodity price swings due to fixed-fee contracts, were hit hard by a
Kinder Morgan Q4 revenue falls 6.8 per cent Read More »
Hess increase first sign the shale industry will boost spending this year Jan 12 (Reuters) – Hess Corp budgeted $2.25 billion for exploration and production this year, higher than the $1.9 billion it spent in 2016, in one of the first signs that the shale industry will spend more in 2017 after years of declines. Shares
Hess to spend more on exploration and production this year Read More »
Demand Energy leader in power storage market MILAN, Jan 11 (Reuters) – Italy’s biggest utility Enel said on Wednesday it had bought US-based energy software company Demand Energy for an undisclosed sum as part of its digital drive to boost growth. Demand Energy, a leader in the New York City power storage market, has designed software
Enel buys Demand Energy to bolster digital drive Read More »
Large concentration of hedge funds long positions introduced downside risk into short-term outlook for oil prices By John Kemp LONDON (Reuters) – Hedge funds amassed a record bullish position in crude oil futures and options by the end of last year, which helped drive crude prices sharply higher in the final six weeks of 2016.
Hedge funds: fully invested in oil or not? Kemp Read More »
Energy Transfer shares fall in Monday trading Jan 9 (Reuters) – Private-equity firm Blackstone Group LP is no longer looking at buying a $5 billion stake in Energy Transfer Partners, a source familiar with the matter confirmed on Monday. In December, Blackstone was said to be looking at a stake in ETP, the company building the
Blackstone ends talks for $5 billion Energy Transfer stake Read More »
Rosneft stake purchased by Glencore, Qatar Investment Authority By Claire Milhench LONDON, Jan 5 (Reuters) – Qatar’s purchase of a stake in Russian oil company Rosneft last month crowned a year of mega-acquisitions by sovereign investors in 2016, with total deal value rising 22 per cent to $82 billion whilst the number of transactions held
Rosneft purchase leads $82 billion spree by sovereign investors in 2016 Read More »
Small US E&P peer group continues to have the most hedging and weakest balance sheets North American E&P companies have more than tripled the hedging protection for their 2017 production since April 2016—with 24 per cent of total 2017 production now hedged, according to new analysis from IHS Markit. “Companies hedge their production to provide a
E&P companies triple 2017 hedging to 24% of production, hedging income set to plummet Read More »
Vitol deal first since sanctions lifted By Julia Payne and Rania El Gamal LONDON/DUBAI, Jan 4 (Reuters) – The world’s largest oil trader, Vitol, has clinched a deal with the National Iranian Oil Co. (NIOC) to loan it an equivalent of $1 billion in euros guaranteed by future exports of refined products, four sources familiar with
Vitol clinches 1 billion euros pre-finance oil deal with Iran-sources Read More »
