Companies - News
The company is settling with New York City Employees Retirement System, Transamerica Income Shares, Internationale Kapitalanlagegesellschaft mbH and Lord Abbett Investment Trust, Reuters reported.
CEO Rob Peabody said the company has focused on fewer oil and gas plays in western Canada and expects to 'do some modest portfolio tidy-up throughout this year.'
Whitehead, 55, has most recently served as executive vice president and CFO of both EP Energy Corp. and EP Energy LLC since May 2012.
In a note, Barclays analysts wrote the U.S. natural gas producer's fourth quarter results were largely in line with expectations, but described Chesapeake's 2017 production forecasts as "a bit more pessimistic" than rivals.
Erin Energy Corp. said that Segun Omidele has resigned as CEO and as a member of the board of directors. Jean-Michel Malek has been named interim CEO.
Apache earmarked nearly two-thirds of its 2017 budget for the Permian Basin in Texas, with $500 million alone budgeted for developing infrastructure in its Alpine High Field.
The reductions were partly offset by ExxonMobil adding 1 billion barrels of new oil and gas reserves in the U.S., Kazakhstan, Papua New Guinea, Indonesia and Norway.
The IPO is the centerpiece of the Saudi government's ambitious plan, known as Vision 2030, to diversify the economy beyond oil, Reuters reported.
Oil companies are betting big on a continued rise in crude prices by buying up acreage and raising capital spending. For example, Whiting boosted its 2017 capex to $1.1 billion from $554 million in 2016.
Chaparral has a hearing on March 9 to confirm its plan to emerge from Chapter 11 bankruptcy, funded in part by asset sales.
Prady Iyyanki has been appointed CEO and president of Houston-based Forum Energy Technologies (NYSE: FET) as part of a long-planned transition, according to a news release. Iyyanki, who currently serves as president and COO of the global oilfield products company, will succeed C. Christopher Gaut, effective May 16.
Mills has nearly 35 years of experience in the oil and gas industry, including most recently as board chairman and CEO of Eagle Rock Energy Partners.
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