Companies - News

Canada’s Cenovus Energy Posts Jump In Quarterly Profit

Oil producer Cenovus Energy Inc.’s said Feb. 15 its fourth-quarter profit soared, as production nearly doubled and the Canadian company reined in expenses.

February 15, 2018

Encana's Fourth-Quarter Profit Beats, Production Rises

Last month Encana said it plans to invest nearly 70% of this budget to boost production in Permian and Montney, as oil investors pressure producers to improve production without significantly increasing capital budgets.

February 15, 2018

Marathon Oil Profit Beats Forecasts On Rising Crude, Cost Cuts

For 2018, Marathon plans a capital budget of $2.3 billion, of which about 60% of that will be spent in the Bakken and the Eagle Ford Shale. The rest will be spent in the Permian Basin and Oklahoma.

February 15, 2018

Murphy Oil CFO John Eckart Announces Intention To Retire

Currently, Murphy Oil has a search process underway to identify CFO John W. Eckart’s successor, the El Dorado, Ark.-based company said in a press release.

February 13, 2018

Bankrupt Breitburn Rebuffs Lime Rock Resources' $1.8 Billion Bid

Lime Rock’s $1.8 billion “stalking horse” offer tops a $1.6 billion enterprise valuation by Breitburn’s investment bank.

February 13, 2018

SandRidge Energy Ousts CEO, CFO After Push From Icahn

SandRidge Energy ousted its CEO and CFO on Feb. 8 and said it would cut spending, a victory for activist investor Carl Icahn who has railed for months against the U.S. shale producer's board and management.

February 9, 2018

ExxonMobil's Reserves Jump 19% On US Shale, UAE, Guyana Growth

ExxonMobil said about 900 million boe in its portfolio now qualify as proved reserves under U.S. SEC Guidelines due to the rebound of oil prices in 2017.

February 8, 2018

Cardinal Midstream To Develop Gas Gathering System For Oklahoma’s Scoop/Stack/Merge

Cardinal’s initial Iron Horse System will span Canadian, Grady, Caddo and McClain counties.

February 8, 2018

Pioneer Boosts Dividend Fourfold After Profit Surges

Pioneer also plans to sell its acreage in the Eagle Ford Shale, as well the West Panhandle gas field in Texas and the Raton Field in Colorado in order to solely focus on the Permian Basin.

February 8, 2018

Ascent Resources Marcellus Files For Chapter 11 Bankruptcy

Privately-held Ascent is one of several energy companies U.S. fracking pioneer Aubrey McClendon launched after leaving Chesapeake Energy in 2013.

February 8, 2018

Anadarko Profit Beats Estimates On Higher Crude Prices

U.S. oil and gas producer Anadarko Petroleum Corp. (NYSE: APC) posted a better-than-expected quarterly profit on Feb. 6, helped by improved crude prices and cost cuts.

February 7, 2018

Chevron Mulling Participation In Brazil’s March Oil Auction

Chevron Corp. (NYSE: CVX) is considering taking part in an oil auction next month in Brazil as part of a consortium of companies, Brazilian oil regulator ANP said on Feb. 6 on its website.

February 7, 2018