Archives for April 2020
Tellurian uses stock as a tool to pay down debt
Houston liquefied natural gas company Tellurian has signed a pair of deals to trade debt for stock — buying the firm more time to land contracts to support the development of its proposed Driftwood LNG...
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BP bolsters reserves as profits plunge
While earnings were hit hard in the first three months of the year, the worst of the virus-driven crisis is yet to come. Source: FuelFix
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Oil slides back below $15 on glut while producers start cuts
Oil dropped back below $15 a barrel as swelling global crude stockpiles made it more difficult for leading producers to balance the market by curbing output. Source: FuelFix
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Diamond Offshore files for bankruptcy amid historic crude crash
Diamond Offshore Drilling, the rig contractor controlled by Loews Corp., filed for bankruptcy amid an unprecedented crash in crude prices that’s wrecking demand for oil exploration at sea. eConditions worsened “precipitously in recent months,” the...
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U.S. oil and gas rig count below 500, continues plunge as oilfield activity nosedives
The number of operating U.S. oil and gas rigs continued its steep declines this week, plunging by 64. Source: FuelFix
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