Archives for October 2016
‘The fourth quarter is the beginning,’ Weatherford CEO promises
The chief executive of Houston-based Weatherford International promised the worst is behind it after a difficult third quarter. Weatherford, the world’s fourth-largest oilfield service company, reported a $1.8 billion loss and negative free cash flow....
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Shareholders sue to stop Spectra merger with Enbridge
Shareholders have filed five separate suits in two weeks against Spectra Energy Corp., alleging the Houston pipeline company is selling itself too cheaply to the Canadian energy firm Enbridge. The all-stock deal, valued at $127...
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Woe in the oilfield: 213 companies have now declared bankruptcy
Fewer and fewer oil exploration and production companies are declaring bankruptcy. But more oilfield service companies are. So far this month, only one North American E&P firm filed for Chapter 11 protection, according to data...
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Energy Transfer to acquire interests in PennTex Midstream
Energy Transfer Partners LP agreed to acquire certain interests in Houston-based PennTex Midstream Partners LP for about $640 million. Energy Transfer will own 100 percent of PennTex’s general partner, with all of its incentive distribution...
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Market Currents: Libyan oil exports on the rise
Oil is looking fairly subdued today amid a stronger dollar, and ahead of a likely build to inventories from tomorrow’s weekly EIA report. Hark, before that, here are five things to consider in oil and...
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