Stone Energy planning to use Chapter 11 to eliminate about $1.2 billion in debt By Tom Hals Dec 21 (Reuters) – Offshore oil exploration company Stone Energy Corp, which filed for bankruptcy last week, has agreed to increase the potential recovery for shareholders in its Chapter 11 plan, according to court papers filed on Wednesday. […]
Stone Energy reaches bankruptcy deal with shareholders Read More »
Blackstone in talks to buy stake in Energy Transfer assets-WSJ By Lauren Hirsch and Divya Grover Dec 22 (Reuters) – Private-equity firm Blackstone Group LP is in talks to buy a stake in assets owned by Energy Transfer Partners LP, the company building the controversial Dakota Access pipeline, a source familiar with the situation said
Blackstone in talks to buy stake in Energy Transfer assets Read More »
Producers appear to be rushing to lock in $55/bbl oil for 2017 Oil and gas hedging activity skyrocketed in Q3 to the highest level in a year, according to an analysis by Wood Mackenzie. Will activity climb higher in Q4 as prices break through the US$50/bbl threshold?Wood Mackenzie’s corporate research experts look at the Q3
Hedging activity maintains high pace set in Q3 – Wood Mackenzie Read More »
Sinopec owns fuel, convenience stores in China Dec 13 (Reuters) – Oil refiner China Petroleum & Chemical Corp, also known as Sinopec, is considering an initial public offering of its retail business next year in Hong Kong that could raise as much as $10 billion, Bloomberg reported on Tuesday. The state-owned oil company has asked
Sinopec mulls retail unit IPO to raise up to $10 billion Read More »
Six junk rated energy companies tap market for US$4.425 billion By Davide Scigliuzzo NEW YORK, Dec 9 (IFR) – US junk rated energy companies came steaming into the bond market this week, selling more debt than in any other week in more than two years thanks to a rally in oil prices. Six companies including liquefied natural
Junk rated energy companies storm market, sell off debt Read More »
Traders are signalling they expect oil demand to exceed supply in 2nd half of 2017, throughout 2018 By John Kemp LONDON – Crude traders expect the oil market to begin tightening and gradually move into deficit, but the shift is not forecast to occur much before the second half of 2017. The expected timetable for rebalancing is
Oil traders see no market rebalancing until later in 2017: Kemp Read More »
Venezuela says Shell to provide $400 mln financing for oil venture CARACAS, Dec 6 (Reuters) – Royal Dutch Shell Plc will provide some $400 million in financing to boost oil output at Venezuela’s Petroregional del Lago, a joint venture with state-run PDVSA, the South American country announced on Tuesday. Petroregional, which operates the Urdaneta oilfield
Shell to provide $400M financing in PDVSA joint venture company Read More »
Barclays energy trading move follows string of big banks leaving market By Catherine Ngai and Olivia Oran NEW YORK, Dec 5 (Reuters) – British bank Barclays Plc has joined the list of top banks to exit energy trading, an exodus that analysts say raises concern among oil producers that falling liquidity means they cannot use
Barclays energy trading exit stirs concerns over liquidity Read More »
Berkshire Hathaway owns $7 billion stake in Phillips 66 By Jonathan Stempel Dec 2 (Reuters) – A Nebraska nonprofit on Friday said it will propose that Warren Buffett’s Berkshire Hathaway Inc sell its investments in oil refiner Phillips 66 and other companies involved in fossil fuels over 12 years. The Nebraska Peace Foundation, which focuses on
Buffett’s Berkshire Hathaway urged to sell fossil fuel stocks Read More »
Stone Energy shares up in heavy trading on Tuesday Nov 29 (Reuters) – Stone Energy Corp investor Thomas Satterfield raised his stake in the oil and gas producer and said the company’s restructuring plan “disproportionately impairs” common shareholder interests. Satterfield on Tuesday disclosed a 9.9 per cent stake in the company, up from a passive 6
Stone Energy restructuring plan hurts shareholders: Top investor Read More »
