Companies - News
Bonanza Creek Energy hired Brant H. DeMuth to serve as its CFO. He will join the company from fellow Rockies producer SRC Energy.
The stock, which peaked at almost $50 in 2008, has fallen sharply since oil prices crashed in late 2014, leading to a string of losses at Weatherford since the third quarter that year.
Stroud Exploration and Castell Oil have retained PetroDivest Advisors to sell Powder River Basin assets in Campbell and Johnson counties, Wyo.
GE, which bought Baker Hughes in July 2017, has been selling off assets and cutting costs to lower its debt and focus on its core businesses of jet engines, power plants and renewable energy.
Big Oil is today in a spending sweet spot as years of cost cuts and rising oil prices converge but investments will need to rise after 2020 to boost output, said asset manager BlackRock.
Oasis Petroleum agreed to sell midstream interests in a $250 million dropdown to Oasis Midstream Partners that the Houston-based company said will improve its leverage position.
Massif Oil & Gas said it partnered with NGP to form Massif II in hopes of leveraging its proprietary relationships and operational expertise for another go-around in the Powder River Basin.
Ultra Petroleum tapped David Honeyfield to succeed CFO Garland Shaw, who did not relocate from Houston following the recent move of the Wyoming gas producers’ headquarters to Englewood, Colo.
Roxo Energy sold its position in the Northern Midland Basin within the Permian to Murchison Oil and Gas in a deal that comes only 20 months after Roxo’s entry into the play.
In addition to Janet Yang’s appointment as CFO and the departure of COO Thomas Murphy, W&T Offshore also announced the promotions of vice presidents David Bump and William Williford.
Jeffrey S. Balmer will join Callon Petroleum from Encana to serve as senior vice president and COO of the Permian Basin operator following the retirement of Gary A. Newberry.
Axis Energy Services, a new workover and completion specialist formed from the combination of TEC Well Service, Momentum Pressure Control, and M6 Energy Services, announced its launch on Nov. 5.