Archives for July 2016
Oil well drilling permits rise, offering hope of recovery
At least a few Texas oil drillers seem to think the oil collapse has hit bottom. Last month, Texas issued 656 permits to drill wells, a slight improvement over May. Perhaps more importantly, it represents another...
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Plains All American simplifies, cuts investor payouts
Plains is largely cutting ties with its general partner, Plains GP Holdings, and reducing its quarterly payout to investors from 70 cents per unit down to 55 cents — a move many energy companies have...
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Kinder Morgan eyes raising dividend after pipeline deal
After selling a 50 percent stake in its natural gas pipeline network in the Southeast, Kinder Morgan may soon boost dividend payments. Kinder Morgan co-founder and Executive Chairman Rich Kinder said Monday the company is “measurably...
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U.S. drillers hit record for junk bond defaults
HOUSTON – Oil explorers have failed to pay $28.8 billion they owed to junk-bond investors this year, bringing the debt default rate among U.S. drillers to a record level, Fitch Ratings says. It’s a grim...
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Demand for oil in China slipped 2.7 percent in May
HOUSTON – Oil demand in China slipped 2.7 percent in May as the world’s second-largest energy consumer reduced imports, after growing steadily each month this year, S&P Global Platts said Tuesday. The country’s oil demand...
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