Freeport-McMoRan Cuts Oil, Gas 2016 Capex By 10%
Freeport, under pressure from activist investor Carl Icahn, further reduced its capital spending plans for 2016 and 2017 on Dec. 9.
Reduced Incentive Restructuring Plan Approved For Sabine
The revisions, which received last-minute backing from second-lien lenders, include lowering the threshold payout for some executives and moving up the date for a bankruptcy confirmation hearing, Reuters said.
Encana Oil & Gas USA Closes Sale Of Haynesville Assets
There are 112,000 net acres of leasehold, plus additional fee mineral lands. Collectively, they represent Encana's total position in northern Louisiana.
Chesapeake Cuts 2015 Budget Again
Net loss was $4.69 billion or $7.08 per share in the third quarter, compared with year-ago profit of $169 million or 26 cents per share a year earlier, Reuters said.
Targa Resources Enters $6 Billion Deal To Buy Targa MLP
The offer values Targa Resources Partners at $36.09 per share, and represents a premium of 18.4% to the stock's closing price on Nov. 2, according to Reuters' calculations.
GeoPetro Buys Interest In Producing North Louisiana Field
The acquisition includes 28,000 contiguous gross acres of mostly undeveloped oil and gas properties in Franklin and Tensas parishes, La.
Samson's CEO Plans To Resign, Company Lawyer Says
Joshua Sussberg said the continuing dive in commodity prices has unraveled the company's restructuring support agreement, which was struck just before it entered bankruptcy, Reuters reported.
Texas Sees Tax Revenue Down $2.6 Billion On Oil Rout
The state projects the revenue available for spending will fall to $110.4 billion in 2016 and 2017, down from a prior estimate of $113 billion in its previous biennial estimate.
Cotton Valley Buoys Pressure Pumping Activity In Dry Gas Basins
The Cotton Valley is the only game in town as activity dwindles in the Barnett and Fayetteville. Survey respondents pointed towards idled equipment and crews as the cause of the slowdown.
Dry Gas Basins: Contractors Scramble To Retain Crews, Find Work
No rest for weary workover contractors in the Barnett, Fayetteville and Haynesville shales. A couple contractors, who have been through several downturns, say this one is the worst they’ve seen.