Energy Financial

Costs from VW scandal climbing, with spot as No. 1 carmaker likely to be lost

Energy Financial

VW scandal called ‘brazen fraud’ FRANKFURT – The cost of the VW scandal is likely to run into the tens of billions of dollars and prematurely end Volkswagen’s long-sought status as the world’s biggest carmaker. As well as fines from governments, Volkswagen faces the massive expense of recalling up to 11 million cars globally. Already the company […]

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Copper miner Freeport-McMoRan considers exiting oil and gas business

Energy Financial

Freeport-McMoRan slashed quarterly dividend earlier due to falling oil prices NEW YORK – Freeport-McMoRan said Tuesday that it is considering spinning off its oil and gas business and other strategic alternative to focus on its copper mining business. The Phoenix company produces oil and natural gas around the country. Energy companies have been hurt by falling oil

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Wind and solar boost cost-competitiveness versus fossil fuels

Energy Financial

Second half of 2015 analysis shows onshore wind to be fully competitive against gas/coal in some parts of the world, solar closing the gap The costs of generating electricity with renewable energy has caught up to fossil fuels depending upon the technology and region, according to Bloomberg New Energy Finance. The research company’s Levelised Cost of Electricity Update

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Sanchez Energy, Targa building south Texas gas plant, pipeline

Energy Financial

Sanchez Energy says new plant/ pipelines near Catarina, TX will lower transportation costs, increase revenue Sanchez Energy Corporation and Targa Resources Partners LP have announced they plan to build a new cryogenic natural gas processing plant and associated high pressure gathering pipelines in the Eagle Ford Shale. The processing plant, which will be located in La Salle

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Suncor bids to take over Canadian Oil Sands Ltd., largest partner in Syncrude mine

Energy Financial

Suncor went shopping during last major crude downturn in 2009, absorbing Petro-Canada in blockbuster deal Suncor Energy is looking to add another big chunk to its vast oilsands holdings – and take advantage of a prolonged rout in crude prices – with an unsolicited takeover bid for Canadian Oil Sands Ltd., the largest partner in the Syncrude mine

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Oil field service equipment scooped for bargain prices during downturn

Energy Financial

Las Vegas-based First Titan says market for used oil field equipment will be huge when industry turns around First Titan Corp. believes it has found a lucrative new source of future revenues and is pursuing opportunities in a market some are abandoning: oil field services. Oversupply and falling demand have the oil and gas industry mired in a

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Sanchez Energy enhances liquidity with $345 million midstream asset sale

Energy Financial

  Sanchez Energy says lifting costs were $7.78/BOE for first half of 2015, lower than guidance range of $9 – $10/BOE Sanchez Energy Corp. is selling pipelines, gathering and compression assets in the Eagle Ford for $345 million, one more sign of hard times in the Texas oil patch. Houston-based Sanchez Energy Corp. announced earlier this week

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Torchlight Energy announces the closing of $3.7 million preferred stock

Energy Financial

Proceeds will be used to accelerate continued development of Torchlight Energy assets, additional liquidity for operations. PLANO, TX– Torchlight Energy Resources, Inc. (NASDAQ: TRCH) today announced the closing of a private placement for $3.7 million of newly issued convertible preferred stock. Torchlight Energy issued $3.7 million in liquidation preference (face amount) of Series B Convertible Preferred Stock in

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Halliburton, Baker Hughes selling oilfield firms as part of merger

Energy Financial

Halliburton selling one company, Baker Hughes selling three Halliburton (NYSE: HAL) and Baker Hughes (NYSE: BHI) are selling businesses that in 2013 earned revenue of $5.2 billion as part of their merger process, the companies announced Monday. The companies are being put up for as part of Halliburton’s pending acquisition of Baker Hughes. Pursuant to the

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