Operating expenditure reduced to $23 per barrel and $150 million slashed from Kraken development in UK North Sea
US player hopes to raise $100 million
French vessel owner Bourbon suffered an increased loss of €87.
Brazilian giant concludes talks to divest NTS natural gas business unit to Canada’s Brookfield
US junior Halcon Resources has finalised a deal to restructure its debt and will emerge from Chapter 11 bankruptcy protection.
US onshore producer SandRidge Energy aims to to emerge from bankruptcy protection within the next 30 days after agreeing a deal with creditors to cut $3.
Analysts describe $2 billion buy-out of Freeport-McMoRan’s deep-water assets as ‘excellent’ business for US independent
Canadian oil company Penn Virginia has emerged from Chapter 11 bankruptcy protection after a restructuring that cut its debt by $1.
Shares in Xcite Energy collapsed this week after it warned that a planned restructuring of its bonds would leave existing shareholders in the troubled UK independent with “minimal residual equity”, writes Rob Watts.
Brent and WTI crude show losses in trading on Wednesday after a brief bounce-back
Canadian player seeks bankruptcy protection
US independent PetroQuest is to consider options for restructuring, including filing for Chapter 11 bankruptcy protection, after deferring an interest payment last week.
US OIL company W&T Offshore has agreed a deal to cut its debt by exchanging its senior notes for equity and new notes with later maturities — but the deal came at a stiff price for existing shareholders.
Restructuring exercise may depend on contractor’s ability to finish secured work
MALAYSIAN contractor SapuraKencana Petroleum has won work worth US$65.
Both boards approve proposed merger deal to create ‘North American midstream monster’ worth around C$165 billion
CANADIAN giant Suncor Energy is selling an equity stake of more than one third in its operated East Tank Farm midstream development to Fort McKay First Nation for C$350 million ($272 million), writes Luke Johnson.
US OIL company Callon Petroleum is paying $327 million to acquire more than 5500 net acres on the Midland side of the Permian basin from private equity-backed Plymouth Petroleum, writes Noah Brenner.
Barclays report expects 3% to 8% rise in 2017, but offshore outlook remains bleak as players cut costs
Price projection of $60 per barrel improbable until middle of 2017 but upcoming meeting fuels speculation
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