oil price slump
Transocean Sells Rigs for $1.3B to Borr Drilling
The deal will allow Transocean to focus on deepwater exploration as it adjusts to the slump in oil prices.
Shell, BP Profits Beat Estimates in 3rd Quarter
The two companies' performance boosts hopes that the industry is adapting to an environment of low oil prices.
GE, Baker Hughes to Merge Oil, Gas Businesses
The companies believe the combined entity will be positioned to benefit from the expected recovery in oil prices.
Total Sells Chemical Unit to Carlyle for $3.2B
The French energy group is seeking to shed $10 billion in assets by the end of 2017 as it responds to low oil prices.
Enbridge, Spectra to Create Pipeline Giant
Enbridge will pay $28 billion to combine its oil transportation network with Spectra's natural gas pipelines.
Delta Reports $450 Million Loss on Fuel Hedge
The airline's latest hedging loss highlights the riskiness of the practice with fuel costs still below historical norms.
SandRidge Declares Bankruptcy to Restructure Debt
In a familiar refrain, SandRidge says the oil price slump has left it unable to service the debt load it took on while aggressively pursuing growth.
Halliburton Cuts 6,000 Jobs as Revenue Falls 17%
"What we are experiencing today [in the energy industry] is far beyond headwinds; it is unsustainable," Halliburton's president says.
Angola Seeks Three-Year Aid Package From IMF
Like other oil-producing countries, the OPEC member is struggling to plug the revenue gap caused by the oil price slump.
Exxon to Cut 2016 Capital Spending by 25%
The cuts reflect the prolonged commodities slump but Exxon says it still has "the financial flexibility to pursue attractive opportunities."
U.S. Job Cuts Running 19% Ahead of 2014
While job cuts are on pace to reach a six-year high in 2015, fewer oil-related layoffs are expected next year.