oil and gas

Exxon to Take Record Writedown, Slash Spending
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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Exxon Posts $680M Loss as Oil Slump Continues
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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Caterpillar Buys Weir Group’s Oil and Gas Business
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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Chaparral Energy Files for Bankruptcy
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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BP Halves Dividend, Posts $16.8B Loss in Q2
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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Templar Energy Goes Bankrupt to Complete Sale
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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Exxon Cuts Spending by 30% Amid Demand Crash
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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Alta Mesa Resources Files Chapter 11 Bankruptcy
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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Halliburton CFO Leaves After 17 Months
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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‘Frack Master’ Settles Charges Over $80M Fraud
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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Oil Firm Founder Settles Charges of ICO Fraud
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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Caterpillar Posts Record 2nd Quarter Profit
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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Exxon Earnings Hit by High Maintenance Costs
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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Feds Propose Easing of Oil-Drilling Safety Rule
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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OPEC Sees Minimal EV Impact on Oil Demand
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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