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CFOs On the Move: Week Ending July 1
McDonald’s, Dollar Tree, GoFundMe, Stride, Otis, Intrusion, Monogram Health, Mass Luminosity
By
Lauren Muskett
| July 1, 2022
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Strategy
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."
By
Matthew Heller
| December 1, 2020
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Financial Performance
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.
By
Matthew Heller
| October 30, 2020
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M&A
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."
By
Matthew Heller
| October 5, 2020
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M&A
Chaparral Energy Files for Bankruptcy
It is the second bankruptcy filing for the oil and gas producer in four years.
By
Lauren Muskett
| August 17, 2020
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Financial Performance
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.
By
Matthew Heller
| August 4, 2020
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Credit & Capital
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.”
By
Matthew Heller
| June 2, 2020
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Strategy
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.
By
Matthew Heller
| April 7, 2020
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Credit & Capital
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."
By
Matthew Heller
| September 12, 2019
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People
Halliburton CFO Leaves After 17 Months
Lance Loeffler, vice president of investor relations, was named the oilfield services company's new finance chief.
By
Vincent Ryan
| November 13, 2018
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Risk & Compliance
‘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.”
By
Matthew Heller
| October 24, 2018
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Risk & Compliance
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."
By
Matthew Heller
| August 15, 2018
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Financial Performance
Caterpillar Posts Record 2nd Quarter Profit
“A strong global economy ... is helping manufacturers like Caterpillar book more orders and deliver higher profits despite growing cost pressures."
By
Matthew Heller
| July 30, 2018
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Financial Performance
Exxon Earnings Hit by High Maintenance Costs
The energy giant posted another earnings miss as production fell 7% and it undertook an "enormous amount of planned maintenance."
By
Matthew Heller
| July 27, 2018
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Risk & Compliance
Feds Propose Easing of Oil-Drilling Safety Rule
The Trump administration says its proposal will reduce industry compliance burdens but environmentalists call it a "recipe for disaster."
By
Matthew Heller
| January 1, 2018
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The Economy
OPEC Sees Minimal EV Impact on Oil Demand
Even if one in four passenger vehicles is electric by 2040, global oil demand would not drop “meaningfully” over the next 23 years.
By
Matthew Heller
| November 8, 2017
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