Relative bargain for Total, which gains three-times its original stake in the play for around a quarter of the original cost By exercising its pre-emptive right to acquire Chesapeake’s 75 per cent interest, Total will become a 100 per cent owner and operator of the joint venture’s Barnett Shale assets and increase its exposure to US shale gas by […]
Total bucks Saddle Resources out of the Barnett Shale Read More »
PDVSA 2017s 1.5 points weaker on Monday By Paul Kilby NEW YORK, Sept 19 (IFR) – The 2017s issued by Venezuelan oil company PDVSA were closing Monday off intra-day lows, even as investors shunned the terms of a debt exchange targeting US$7.1bn of those securities. The 5.25 per cent 2017s were ending the day at around 73.00
PDVSA 2017s fall on disappointing debt swap terms Read More »
Engie union expects reorganization, possible sale PARIS, Sept 19 (Reuters) – French gas and power group Engie is considering the future of its liquefied natural gas (LNG) business, which could lead to a reorganisation and maybe a sale, the firm’s CGT union said on Monday. Earlier this year, the company set a target to sell 15 billion
Engie considers future of its LNG unit – union Read More »
2020 PDVSA bond to be paid over four years CARACAS, Sept 16 (Reuters) – Venezuela’s state oil company PDVSA launched on Friday an offer to swap up to $7.1 billion of debt maturing next year for a new 2020 bond with a coupon of 8.5 percent in an effort to ease its heavy short-term payment
PDVSA offers 2020 bond swap, with 8.5 per cent coupon Read More »
Oversupply has worked its way into refined products, affecting US refiners’ profitability and utilization CHICAGO – The US investment- grade exploration and production (E&P) sector has weathered the two-year commodity price downturn mostly unscathed, according to Fitch Ratings’ North American Exploration and Production Handbook. Most companies in Fitch’s monitored universe had stable or higher amounts available
Chesapeake Energy “will continue to pursue our legal options”: Spokesman By Jonathan Stempel NEW YORK, Sept 15 (Reuters) – A federal appeals court on Thursday rejected ChesapeakeEnergy Corp’s effort to avoid having to pay $438.7 million, including interest, to investors in a bond dispute. By a 3-0 vote, a panel of the 2nd U.S. Circuit
Chesapeake Energy loses appeal in $438.7M bond dispute Read More »
12.5 million Noble Midstream Partners shares priced at $22.50 By Lauren Hirsch Sept 14 (Reuters) – Noble Midstream Partners LP, a wholly owned unit of Noble Energy Inc, priced its initial public offering (IPO) above earlier expectations, the company said on Wednesday, raising $281 million and breaking a year-long drought for IPOs in the oil and gas
Noble Midstream Partners prices IPO above indicated range Read More »
“There is always too much or too little oil.” – economist Paul Frankel, 1946 By John Kemp LONDON (Reuters) – Volatility has always been the defining characteristic of oil and other commodity markets, defying repeated attempts to stabilise prices. Volatility is present at all timescales from seconds, minutes and hours to days, weeks, months and years (“Oil
Oil markets have always been unstable, always will be – Kemp Read More »
Financial restructuring at British oilfield services company Expro Sept 13 (Reuters) – British oilfield services group Expro International Group Ltd will be controlled by four lenders, including KKR & Co LP and Goldman Sachs Group Inc, as part of a financial restructuring, Sky News reported. The lenders, which also include hedge fund Highbridge and Park
KKR, Goldman to take control of Expro International Group Read More »
PDVSA bond swap could help ease food, medicine shortages By Ana Isabel Martinez and Corina Pons MEXICO CITY/CARACAS, Sept 13 (Reuters) – Venezuela’s state oil company PDVSA on Tuesday proposed a bond swap for $7 billion in outstanding debt to lower the financial burden on the cash-strapped company, which is at the center of the
PDVSA to offer bond swap for upcoming maturities Read More »
