Halliburton, Baker Hughes deal called off on Sunday May 3 (Reuters) – Halliburton Co, the world’s No.2 oilfield services provider, reported a bigger first-quarter loss, hurt by $2.77 billion in charges for asset impairment and other reasons. Net loss attributable to the company widened to $2.41 billion, or $2.81 per share, in the three months […]
Halliburton posts bigger quarterly loss on $2.77 bln in charges Read More »
Duke Energy changing focus to regulated markets May 3 (Reuters) – Duke Energy Corp, the biggest U.S. power company by generation capacity, reported a lower-than-expected quarterly profit as a mild winter hurt electricity demand. The company said adjusted income in the regulated utilities business fell 10.2 per cent to $695 million in the first quarter
Duke Energy profit disappoints as mild winter hits demand Read More »
Low market trading prices on the bonds portend poor recoveries for unsecured creditors on default NEW YORK – Two oil and gas producer defaults have propelled the energy high-yield default rate to a record 13 per cent, surpassing the 9.7 per cent mark set in 1999, according to Fitch Ratings. Ultra Petroleum Corp. and Midstate
New filings propel US energy high yield bond default rate to record 13% – Fitch Read More »
Valero refineries operated at 96 per cent in Q1 May 3 (Reuters) – U.S. refiner Valero Energy Corp reported a lower-than-expected profit as margins fell in the first quarter due to a build-up of diesel and gasoline inventories. The company’s shares were down 3.8 percent at $57.53 in morning trade on the New York Stock
Valero profit misses estimates as product inventories soar Read More »
Encana on track to deliver $550 million in year-over-year cost savings During the first quarter, Encana Corp. says its internal analysis and independent third-party research indicates the company is delivering well performance among the top of its peer groups in its core four assets. But Encana also reported a bigger-than-expected quarterly loss, citing low oil and
Encana reduces Eagle Ford, Permian drilling and completion costs up to 44% Read More »
Encana production down by 11 per cent By Nia Williams CALGARY, Alberta, May 3 (Reuters) – On Tuesday, Encana Corp reported a bigger-than-expected quarterly loss, citing persistently low commodity prices that prompted a drop in production, and its shares fell nearly 12 per cent. The company’s total production fell by 11 per cent to 383,400 barrels of
Encana posts bigger-than-expected loss and lower output Read More »
Acquisition includes drilling rights on an undeveloped 53,000 net acres for the deep Utica PITTSBURGH – EQT Corporation today announced that it has signed a definitive agreement to acquire 62,500 net acres, and current natural gas production of 50 MMcfe per day from Statoil USA Onshore Properties, Inc. (Statoil), $407 million, subject to customary closing conditions.
EQT acquires 62,500 core Marcellus acres for $407 Million Read More »
Anadarko Petroleum cut its 2016 capital budget by 50 per cent By Ernest Scheyder May 2 (Reuters) – Anadarko Petroleum Corp posted a smaller-than-expected first-quarter loss on Tuesday as it successfully slashed costs to offset the plunge in crude oil prices. Like many of its peers, the Woodlands, Texas company has reacted swiftly to curb spending
Anadarko Petroleum’s loss less than expected Read More »
Lightstream Resources looking at asset sales, restructuring By Nia Williams CALGARY, Alberta, May 2 (Reuters) – Canadian oil and gas producer Lightstream Resources warned on Monday it could fail to meet a debt payment obligation due in mid-June if it is unable to bolster its balance sheet through asset sales. The Calgary-based company also said its
Canadian oil company Lightstream Resources says risk of mid-June debt default Read More »
Fund also financed purchase of WPX’s Piceance basin assets by backing Terra Energy Partners earlier this year In a move likely to deploy capital raised for natural gas assets in its new Energy Income Fund, investment firm Kayne Anderson has committed US$106 million and US$250 million in the SCOOP and Eagle Ford plays, respectively, according
Investment fund continues to pump equity into Lower 48 natural gas plays Read More »
