oil and gas
Exxon to Take Record Writedown, Slash Spending
The "high-grading" of Exxon's asset base will enable it to "manage future commodity price cycles while working to maintain a reliable dividend."
Exxon Posts $680M Loss as Oil Slump Continues
The company disclosed that further capital spending cuts and possible writedowns of assets are ahead as it battles the pandemic-induced oil bust.
Caterpillar Buys Weir Group’s Oil and Gas Business
The $405 million deal “will expand our offerings to one of the broadest product lines in the well service industry."
Chaparral Energy Files for Bankruptcy
It is the second bankruptcy filing for the oil and gas producer in four years.
BP Halves Dividend, Posts $16.8B Loss in Q2
The energy giant was forced to write down the value of exploration assets by $6.5 billion due in part to the decline in oil and gas prices.
Templar Energy Goes Bankrupt to Complete Sale
With its Chapter 11 filing, Templar is “joining a growing list of distressed operators amid the sharpest oil market downturn in recent memory.”
Exxon Cuts Spending by 30% Amid Demand Crash
Exxon's cut in 2020 capital spending is the largest any oil major has made in response to the coronavirus-driven slowdown.
Alta Mesa Resources Files Chapter 11 Bankruptcy
The shale oil startup cited "a historically challenging commodity price environment and a capital market that is highly constrained for energy companies."
Halliburton CFO Leaves After 17 Months
Lance Loeffler, vice president of investor relations, was named the oilfield services company's new finance chief.
‘Frack Master’ Settles Charges Over $80M Fraud
Christopher Faulkner agrees to disgorge the $23.8 million he allegedly misappropriated from investors to pay for a lifestyle of “decadence and debauchery.”
Oil Firm Founder Settles Charges of ICO Fraud
The SEC says David Laurance used misleading marketing materials to try to raise $5 million by selling "Tomahawkcoins."