Archives for January 2020
Texas energy sector declined for 10 straight months in 2019
An index measuring the strength of the Texas oil industry fell by nearly 10 percent last year, showing a steady decline, but certainly not any kind of crash on par with with the last oil...
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Bankrupt Alta Mesa assets sold for $320M
The oil and gas and pipeline assets of the now-defunct Alta Mesa Resources were sold for $320 million to a partnership between an Oklahoma startup and a Houston private equity firm. Source: FuelFix
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Oil extends recovery as traders reassess virus threat to demand
(Bloomberg) — Oil continued its recovery from a three-month low as traders reassessed the threat to demand from China’s coronavirus, and as U.S. industry data showed a drop in crude inventories. Futures traded near $54...
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Oil snaps 5-day slide as investors weigh virus's toll
(Bloomberg) — Oil rebounded from its lowest level since mid-October as investors weighed the extent to which China’s coronavirus would hurt fuel demand. Futures recovered 0.6% in New York on Tuesday after losing more than...
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Former Black Elk CEO gets deal to dismiss fraud scheme charges
The former head of Houston’s Black Elk Energy reached a deal to eventually dismiss charges that he helped run a Ponzi scheme fraud with the company’s New York hedge fund owners. Source: FuelFix
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