Based on today’s closing trading price of Suncor’s common shares on the TSX, acquisition price was $10.17 per COS share Suncor and Canadian Oil Sands Limited announced today that Suncor’s acquisition of COS has been completed following shareholder approval of an amalgamation agreement at a special meeting of COS shareholders this morning. “Today marks the […]
Suncor Energy completes acquisition of Canadian Oil Sands Read More »
Fitch projects $90 billion in 2016 defaults, 3rd highest on record behind 2002 ($110 billion) and 2009 ($119 billion) Distressed debt exchanges (DDEs), a prominent lifeline used by struggling energy companies since last April, may no longer be a viable tool to stem the tide of low oil prices, according to Fitch Ratings. The past three
Struggling O&G co.s losing vital financial lifeline by missing distressed debt payments Read More »
Trican will pay down debt, strengthen balance sheet to weather industry downturn caused by low oil prices Trican Well Service Ltd. says it expects to close the sale of its United States fracking business today to Keane Group, a privately-held U.S.-based well completion services company. As previously announced, the transaction involves the sale of all of the fracking and select
Trican closes sale of US fracking business Read More »
Clayton William’s 2015 oil, gas and NGL production per BOE decreased 16% in 4Q15, revenue down, but costs $87.6 million v.s $105.3 million in 2014 MIDLAND, Texas – Low oil prices took their toll on Clayton Williams Energy as the company posted a lost of $98 million for 2015. Fiscal 2015 Results Oil and Gas Production
Permian Basin News: Clayton Williams Energy reports $98 million loss for 2015 Read More »
WPX Energy has a net debt of $3.2 billion consisting of $3 billion in notes, remainder primarily in revolver borrowings WPX Energy says it has completed the previously announced sale of its San Juan Basin gathering system for approximately $309 million. The San Juan is located in the Four Corners region of northwestern New Mexico, southwest Colorado,
WPX Energy sells San Juan Basin gathering system for $309 million Read More »
Basic Energy CEO says oil prices under $30 WTI have caused many producers to cut back on projects Basic Energy Services, Inc. says rig utilization rates have plummeted over the past year and the Forth Worth, Texas-based company continues to stack equipment due to soft customer demand caused by low oil prices. Basic’s well servicing rig count
Basic Energy reports lower rig utilization rates, Q1 revenue will be down 17% Read More »
Anadarko planning to monetize $3 billion in assets in 2016 Anadarko Petroleum Corporation says it is cutting back in West Texas and the Denver-Julesberg basin while it waits for a more “compelling price environment.” “In 2016, we will continue our disciplined and focused approach, preserving and building value by leveraging our best-in-class capital allocation, enhancing operational efficiencies
Anadarko Petroleum cuts 2016 capex by $2.5 billion in Permian, D-J basins Read More »
Exxon Mobil on track to start up 10 new upstream projects in 2016/17, adding 450,000 b/d of production capacity Exxon Mobil is interested in acquisitions while oil prices are low, but CEO Rex Tillerson told the annual meeting with investors in New York that sellers have unrealistic price expectations. Tillerson said Wednesday that Exxon Mobil Corp. is in financial position to
Exxon Mobil eyeing competitors while prices are low Read More »
“…achieved significant reductions in our finding and operating costs and substantially increased the size and the quality of our inventory” EOG Resources, Inc. has reported a fourth quarter 2015 net loss of $284.3 million, or $0.52 per share. This compares to fourth quarter 2014 net income of $444.6 million, or $0.81 per share. For the full
EOG Resources loses $4.5 billion in 2015 Read More »
Catarina wells are now over 40% more productive than when Sanchez Energy acquired them Texas-based Sanchez Energy Corporation says it lost $1.5 billion in 2015 despite achieving record oil production and cutting capital expenditures by over a third compared to 2014. “2015 was a strong year for Sanchez Energy despite the most challenging commodity environment we have faced
Sanchez Energy loses $1.5 billion in 2015, says ‘balance sheet remains strong’ Read More »
