Companies - News

US Will Not Issue Drilling Waivers To Russia Sanctions

The U.S. and EU imposed economic sanctions on Russia over its annexation of the Crimea region in 2014 and role in the conflict in eastern Ukraine.


Swift Energy Increases Credit Facility Borrowing Base By $80 Million

J.P. Morgan led the facility and was joined by a syndicate of 11 banks, including six new lenders. As of March 31,about $172 million was drawn on the facility.


Schlumberger Sees Pricing Improve But Costs Weigh On Margins

The world’s No.1 oilfield services provider said revenue rose 5.7% to $6.89 billion in the quarter ended March 31, but its cost of revenue increased 11.3% to $6.08 billion.


Chevron Loses Australian Tax Appeal In Landmark Case

Chevron said it was disappointed by the judgment in the case, which covers the five tax years from 2004 through 2008.


California Resources Lands More Funding With $300 Million JV

California Resources is looking to accelerate the development of its "vast resource basin" in the Golden State with a partnership with Macquarie worth up to $300 million.


Jeff Ritenour Becomes CFO Of Devon Energy

Most recently, Jeff Ritenour was senior vice president of corporate finance, investor relations and treasurer. Devon also said that its incumbent CFO, Tom Mitchell, will leave to pursue other interests.


Houston-Based Oilfield Service Company Launches IPO

NCS Multistage's IPO is priced between $15 and $18 per share and includes a 1.425-million-share greenshoe. Proceeds will be used to repay debt and for general corporate purposes.


Venoco Files for Chapter 11 Bankruptcy

Venoco had quit-claimed its leases in the South Ellwood Field back to the state prior to bankruptcy, beginning the decommissioning process, the press release said.


Energy XXI Names Douglas Brooks As CEO, President

Brooks has more than 34 years of experience in the energy industry, most recently as CEO for Yates Petroleum which merged with EOG Resources in October.


Stack Play-Focused Tapstone Files For $100 Million IPO

Tapstone Energy filed for an IPO of up to $100 million, the E&P, which claims to hold the largest contiguous leasehold position in the Northwest Stack Play, said in regulatory filings on April 13.


Continental Taps EnerVest's Tony Maranto As COO

Jack Stark's title is set to change to president when Maranto joins May 1. Stark has served as president and COO of Continental since 2014 and has been with the company since 1992.


Seaport Global Securities Launches Upstream A&D Division

In addition, Tom Schaefer and Andy Taurins have joined Seaport as managing directors to co-head the firm's A&D investment banking team.