Hints and tips:
...The shale revolution, which turned the US into the world’s biggest producer of both oil and gas, has begun to fade as Wall Street demands operators focus on shareholder returns over endless drilling campaigns...
...growth era is likely to boost megadeals The shale boom era caused a surge in US oil and gas production that transformed the country into an energy superpower; hundreds of billions of dollars were spent drilling...
...Shares in two of Solus’s other equity investments, US coalminer Contura Energy and offshore drilling services firm Hornbeck, have fallen around 90 per cent over the past year....
...It’s a story that weaves from the wildcat drilling of the early 20th century, to a nervous 32-year-old lawyer threatening Margaret Thatcher’s chief financial secretary with offshore structures, to Blackstone...
...Baker Hughes took a 5 per cent stake in Adnoc’s drilling unit....
...Even as output rises, the 55 drilling rigs active in the Bakken are less than a third of the sum four years ago....
...last week, each shareholder had to account for the firm’s income as if they had earned it themselves, filling in lengthy forms that covered everything in the KKR portfolio from foreign currency gains to drilling...
...BHP had as recently as July announced that the shale unit’s capital expenditure would more than double over the coming year to $1.2bn as it added up to five drilling rigs across its US portfolio, which includes...
...Mr Cecchini also attributed the gains in oil to capital expenditure cuts from US producers “after Halliburton warned on Monday that explorers are ‘tapping the brakes‘ on drilling while Anadarko trimmed its...
...They involve oil services groups Schlumberger, Halliburton and Weatherford International, drilling contractors Nabors Industries and Rowan Companies, and engineering and construction companies KBR, Jacobs...
...Israel’s Delek Drilling, which owns a 23 per cent share of the project, announced the signing of the deal in an announcement to the Tel Aviv Stock Exchange and Israel Security Authorities on Monday, reports...
...Economists have pinned the gloomy investment figures partly on the sustained period of low oil prices, which spurred energy groups to dramatically pare down their capital spending plans and curtail drilling...
...He is since understood to have sold out of Chesapeake’s debt, but is replicating the strategy at Transocean, the offshore drilling contractor, and Micron Technology, the semiconductor producer....
...“The number of rigs drilling in the US has gone down by 27 per cent, which is about twice what we expected …and long-term [contract] decisions are just getting delayed.”...
...The pipeline companies have objected, arguing that the contracts “run with the land” that Sabine has been drilling and cannot be torn up in bankruptcy....
...The need to conserve cash is forcing companies to cut back on drilling and completing wells, which has started to reduce US oil production....
...human potential, is a good thing: “An ambitious ethical stance is bound to make investors uneasy because they do not know what it involves — does linking communities mean manufacturing mobile phones or drilling...
...Transocean, one of the biggest offshore drilling contractors, jumped 7.3 per cent to $15.76....
...The world’s second-biggest offshore drilling company by valuation saved $250m on operating costs last year, but said cost cuts in 2015 would “far exceed” that sum and would continue into next year....
...However, the fall of more than 55 per cent in US crude prices since June has begun to affect activity, with a steep decline in oil drilling, and analysts have forecast that production growth in the US will...
...For instance, Figure 58 shows that LP growth for 1996 was revised up from roughly 1% originally to close to 3% eventually. (Citi GPS) —— 9....
...In an interview interrupted by occasional drilling, Addy Loudiadis, the insurer’s cerebral Anglo-Greek co-founder, sets out how she is readying the fast-growing business for the public markets....
...It also announced a $500m drilling joint venture with the lending affiliate of Blackstone, whereby the fund puts up all the cash and earns a preferred return....
...Small and midsize companies rely heavily on debt financing but in a low-price environment they may be forced to revise their drilling plans....
...Like most CEOs, in fact, Mr Sandrea says he also knows what he’s not interested in – in this case, deepwater drilling, because it is too risky and expensive for a small player like Sierra....
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