Companies - News
Pioneer Natural Resources CEO Timothy Dove said the buyback plan was consistent with the priorities of the Permian Basin-focused company's 10-year plan.
Addressing lawmakers in a congressional hearing, deputy finance minister Arturo Herrera acknowledged concerns that Pemex risks a credit rating downgrade and said the company would need to be looked after very carefully.
The Nigerian government filed a $1.1 billion lawsuit against Shell and Eni in a commercial court in London on Dec. 13 in relation to a 2011 oilfield deal involving block OPL 245.
Hess expects oil output to grow more than 10% per year compounded through 2025, citing higher growth opportunities at its Bakken shale and offshore Guyana projects.
The board of Faroe Petroleum, in which DNO already owns 28%, has said the company was worth substantially more than DNO's takeover bid, first announced on Nov. 26.
Summit Midstream Partners promoted Marc Stratton to serve as its next CFO after the midstream operator announced Mathew Harrison will be leaving the company to pursue other interests.
Chevron made several leadership changes on Dec. 10 including naming Dale Walsh as the company’s next vice president of corporate affairs and Navin Mahajan as vice president and treasurer.
Canada’s Cenovus Energy Inc. (NYSE: CVE) said on Dec. 11 it would reduce its capital spending for 2019 by 4% amidst a broader turnaround plan following its highly criticized deal with ConocoPhillips (NYSE: COP).
8minutenergy will use the more than $200 million from the JV to develop solar projects throughout the U.S. over the next five years, including in California, Texas and the U.S. Southeast.
Pacific Coast Energy retained TenOaks Energy Advisors to sell certain operated and nonoperated oil properties located in Santa Barbara and Los Angeles counties in California.
Hess said the lion's share of its 2019 capex will go towards oil and gas exploration in Guyana and the Bakken, while ConocoPhillips will spend most of its capex in Alaska and Canada.
In a letter made public on Dec. 10, the Rice Energy brothers pointed to EQT's "severely depressed" stock price and blamed the management for underperformance.