Schlumberger revenue down as recovery in oil patch delayed according to Chairman and CEO Paal Kibsgaard Energy services giant Schlumberger says its revenue continues to drop due to low oil prices and it expects 2016 to be another tough year. The company reported its Q3 earnings late last week and the news was not good. During the […]
Schlumberger takes hit in Q3, expects a rough 2016 Read More »
Aly Energy says it anticipates upturn in oilfield business before new debt matures in 2017 Texas-based drilling services company Aly Energy Services, Inc. says it has raised over $3 million in capital and renegotiated its debt, as the industry continues to struggle with low oil prices and E&P cutbacks. The company (OTCQB: ALYE) announced Monday that effective Sept.
Aly Energy Services closes equity deal, renegotiates debt until 2017 Read More »
Clayton Williams Energy shares traded as high as $69.37 on Wednesday Midland, Texas-based Clayton Williams Energy, Inc. may be putting itself up for sale after announcing that it has begun a review of “strategic alternatives” and hired Goldman, Sachs & Co. to provide advice. Clayton Williams Energy, Inc. (the “Company”) (NYSE:CWEI) today announced that its Board of Directors
Clayton Williams Energy may be exploring sale Read More »
Repsol plan calls for 38 per cent spending cut between 2016-2020 Repsol, the international energy company based in Spain announced it will be selling 6.2 billion euros ($7.1B) in non-strategic assets and cutting spending over the next five years as part of a plan to increase efficiency and combat low oil prices. Low oil prices
Repsol selling $7.1B of assets to cope with weak oil prices Read More »
E.ON purchased by Mikhail Fridman’s Alfa Group BERLIN – German-based oil and gas firm DEA Deutsche Erdoel AG announced on Wednesday that it plans to buy 100 per cent of the Norwegian utility E.ON’s oil and gas business in a deal worth US$1.6 billion. DEA, a former unit of energy company RWE that now belongs to an international
E.ON Norwegian oil and gas business to be sold to Russian billionaire Read More »
Balance sheets improved because of added liquidity from added production Consultancy Wood Mackenzie has published two new reports suggesting concerns surrounding October bank redeterminations for oil and gas companies have been exaggerated. Wood Mackenzie’s Corporate Service Insight, ‘US Independents: How strong, for how long?’ examines the financial health of the top 26 US Independents, and concludes that the larger producers
Concern over financial health of American E&P independents exaggerated – study Read More »
Oil prices plunged by more than half since the summer of 2014 DOHA, Qatar – Qatar’s energy minister says he believes that oil prices have bottomed out ahead of an expected meeting of OPEC members and other oil producers later this month. Energy and Industry Minister Mohammed bin Saleh al-Sada said in a statement Sunday that rising
Qatar energy chief says oil prices have bottomed out, expects rising demand Read More »
Good news is many producers now earn same rate of return at $60/b as they did at $90/b, less need to hedge A new report from IHS says that in 2016 oil and gas hedging for North American exploration and production companies will plunge to just 11 per cent of production volumes. As a consequence, many
E&P hedging down for 2016, high debt producers to suffer – IHS Read More »
TransCanada says Ironwood is high efficiency, combined cycle power plant that fits well with NE Coast expansion plans TransCanada Corporation has announced that it has reached an agreement to acquire the Ironwood natural gas-fired, combined cycle power plant in Lebanon, Pennsylvania, with a nameplate capacity of 778 megawatts (MW), from Talen Energy Corporation for US$654 million. At
TransCanada buying Pennsylvania natural gas power plant in midst of Marcellus Read More »
Financing announcement comes as Enbridge says it is considering a big expansion into the Gulf Coast HOUSTON, TX – Enbridge Energy Partners, L.P. announced Tuesday it has closed a $1.6 billion financing that it will use to pay down debt, fund capital expansion, and unwind hedging arrangements. Enbridge recently announced it is considering a significant investment in
Enbridge Energy Partners closes $1.6 billion financing Read More »
