Archives for 2016
Climbing oil prices shield most U.S. drillers from default, Fitch says
Rising oil prices have probably shielded most U.S. drillers from debt defaults next year, Fitch Ratings says. Energy companies have defaulted on $7.7 billion in leveraged loans, a certain category of higher-risk loans sold to...
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Pioneer denied request to reclassify oil wells
The Railroad Commission of Texas last week denied Pioneer Natural Resources’ request to reclassify several oil wells as gas wells, citing concerns that the company was looking to take advantage of a tax exemption for...
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OPEC optimism lifts oil
Oil traded near a three-week high on signs OPEC members have made progress toward completing a deal to cut output. January futures rose as much as 2 percent in New York after the December contract...
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Tesla’s revenge: Gasoline consumption at peak, says IEA
After fueling the 20th century automobile culture that reshaped cities and defined modern life, gasoline has had its day. The International Energy Agency forecasts that global gasoline consumption has all but peaked as more efficient...
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Swift Energy sells Louisiana asset to intensify Eagle Ford drilling
Swift Energy Co. sold its interests in a southeast Louisiana production area to intensify its focus on South Texas. The Houston-based exploration company announced Monday that it has divested its Lake Washington Field holdings. The...
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