Hess revenue fell 29.2 per cent to $1.2 billion Oct 26 (Reuters) – Hess Corp reported a smaller-than-expected quarterly loss on Wednesday as the oil producer kept a tight leash on costs to counter lower prices. U.S. crude prices have nearly doubled from a low of $26.05 in February and have closed above $50 per barrel […]
Hess reports smaller-than-expected loss Read More »
Given that industry bottomed during Q2, worst of historical downturn is behind us, market is slowly turning – Duroc-Danner Weatherford International plc reported a net loss of $1.78 billion, or a net loss of $1.98 per share, and adjusted net loss before charges and credits of $349 million ($0.39 adjusted net loss per share) on revenues of
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Baker Hughes cuts costs, expenses by 31.2 per cent in Q3 Oct 25 (Reuters) – Oilfield services provider Baker Hughes Inc reported a much smaller-than-expected quarterly loss as the company’s aggressive cost-cutting measures paid off. Baker Hughes, which in May abandoned a merger with closest rival Halliburton Co due to opposition from antitrust regulators, said total
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Xcite Energy bondholders rejected restructuring plan LONDON, Oct 25 (Reuters) – London-listed Xcite Energy is set to go into liquidation after bondholders rejected a restructuring plan for the North Sea oil developer, the company said on Tuesday. Trading of the company’s AIM-listed shares was suspended after principal debt holders rejected a plan that would see the
North Sea oil developer Xcite Energy set for liquidation Read More »
Over past 4 years, EQT acquired 230,000 core Marcellus acres and developed 44,000 acres EQT Corporation says it signed definitive agreements to acquire additional core Marcellus acreage, consisting of 42,600 net acres and current natural gas production of approximately 42 MMcfe per day from Trans Energy, Inc. and entities affiliated with Republic Energy, according to a press release.
EQT increases core Marcellus acreage position with $683 million acquisition Read More »
HOUSTON – American Midstream Partners, LP and JP Energy Partners LP announced a merger agreement to create a combined midstream platform, according to a press release. American Midstream will acquire 100 per cent of JP Energy in a unit-for-unit merger which is anticipated to have minimal, if any, tax recognition for the unitholders. In conjunction with the transaction, ArcLight
American Midstream merging with JP Energy creating $2 billion company Read More »
GE stymied by 25 per cent slump in Q3 oil and gas revenue By Alwyn Scott NEW YORK, Oct 21 (Reuters) – General Electric Co beat analyst profit forecasts in the third quarter, but revenue growth remained sluggish, prompting GE to scale back expectations for full-year revenue and profit on Friday, sending shares sharply lower. The industrial
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Schlumberger looks for more activity in 2017 Oct 20(Reuters) – Schlumberger Ltd, the world’s No.1 oilfield services provider, reported a quarterly profit that topped analysts’ expectations as more oil producers put rigs back to work in North America. The company expects improved activity in onshore North American, Middle Eastern and Russian markets next year, Chief Executive
Schlumberger profit beats as North America activity ramps up Read More »
Oil forecast up from $53/barrel NEW YORK, Oct 20 (Reuters) – The World Bank raised its crude oil forecast price for 2017 to $55 a barrel on Thursday from $53 a barrel, as it expects an output agreement among the Organization of the Petroleum Exporting Countries (OPEC) to help trim excess supply. Energy prices, which
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Rebounding commodity prices stoked Chesapeake Energy investor demand By Lisa Lee and Lynn Adler NEW YORK, Oct 20 (Reuters) – US natural gas producer Chesapeake Energy’s US$1.5 billion leveraged loan has hit stratospheric price heights in the secondary market normally reserved for high-yield bonds, boosted by a combination of stiff investor protections and rebounding commodity prices. When the
Chesapeake Energy loan surges as investors clamor for refinancing protection Read More »
