Archives for October 2018
Gastar files for bankruptcy with private equity backing
The financially struggling Houston firm Gastar Exploration said Monday it will file for bankruptcy with support from the company’s largest creditor and shareholder, the Los Angeles private equity group Ares Management. Source: FuelFix
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Shrinking Weatherford reports $200 million loss
Oilfield services firm Weatherford International said Monday it reported a $199 million loss in the third quarter, which still represents a small improvement from a $256 million loss last year. Source: FuelFix
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Gasoline prices, following crude, take a dive
Gasoline prices in the Houston area plunged an average of 7 cents a gallon following last week’s dive in oil prices over concerns of rising inventories, increased OPEC production and a slowing global economy. Source:...
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Eagle Ford oil and gas driller Penn Virginia Corp. bought for $1.7 billion
Independent oil and gas driller Penn Virginia Corp. was bought Sunday in a deal worth $1.7 billion. Source: FuelFix
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Hedge funds back off on oil as Saudis signal OPEC to open spigot
Saudi Arabia is scaring hedge funds. Money managers slashed bets on rising West Texas Intermediate crude prices to the lowest in more than a year, with total positioning on the U.S. benchmark down to a...
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