Finance - News

Oil Falls As US Crude Inventories Jump Unexpectedly

Oil futures fell more than $2 a barrel on Aug. 15 after data showed U.S. crude stockpiles jumped last week, compounding worries about a weaker global economic growth outlook.

August 15, 2018

Diamondback Energy Shares Drop On $9.2 Billion Deal For Shale Rival

Diamondback Energy Inc. (NASDAQ: FANG) shares fell 10% early on Aug. 15 following the U.S. oil and gas producer’s all-stock, $9.2 billion deal for shale rival Energen Corp. (NYSE: EGN).

August 15, 2018

Woodside Petroleum Half-Year Profit Rises

Australia’s Woodside Petroleum Ltd. said on Aug. 15 that its first-half net profit rose 6% and it raised its 2018 production outlook after strong performances from its Wheatstone and Pluto LNG projects.

August 15, 2018

Oil Rises On Concern Over Saudi, Iranian Supply

Oil prices jumped on Aug. 14 after Saudi Arabia said it cut production, adding to concerns over global supply as U.S. sanctions against Iran curb its exports, though the prospect of a slowdown in global economic growth kept a lid on markets.

August 14, 2018

Oil Steadies As Iran Sanctions Balance Impact Of Trade War

Oil prices steadied on Aug. 10 as concerns that a global trade dispute will slow economic growth and demand for fuel were balanced by U.S. sanctions against Iran that look set to tighten supply.

August 10, 2018

Oil Up As US Sanctions On Iran Kick In

Brent crude futures were up 19 cents at $72.47 barrel by 8:15 CST, after having lost more than 3% on Aug. 8. U.S. crude futures rose 6 cents to $67.00 a barrel, having closed down 3.2% the day before.

August 9, 2018

Quantum Energy Surpasses Hard Cap

Quantum Energy Partners said it has just closed Fund VII with $5.525 billion of private equity, above its original hard cap. This is Quantum’s largest fund ever, some $1.5 billion more than its last raise, which was for Fund VI that closed in March 2015. Capital from the latter is about 90% deployed.

August 8, 2018

Energen Tops Profit Estimates, Raises Production Forecast

Oil and gas company Energen Corp. (NYSE: EGN) beat quarterly profit estimates on August 7, helped by new well designs and higher oil prices, prompting it to forecast a rise in production for the rest of the year.

August 7, 2018

Enbridge Tops Quarterly Profit Estimates On Cost Controls

Canada’s top pipeline operator Enbridge Inc. (NYSE: ENB) beat analysts’ estimates for quarterly profit by reining in costs, and said it completed 40% of its Line 3 pipeline replacement work.

August 3, 2018

Quantum Energy Partners Launches New Renewable Energy Company, Adds Industry Veteran Gabriel Alonso

Gabriel Alonso has joined private equity capital provider Quantum Energy Partners as executive in residence. Alonso will work with Quantum to identify, evaluate and execute on multiple investment opportunities across the renewable and technology segments of the energy industry.

August 2, 2018

TransCanada Reports 11% Drop In 2Q Profit

Company sells stake in Cartier wind power plants.

August 2, 2018

US Shale Oil Producers Sink As Hedging Losses Dent Earnings

U.S. shale production has surged in the last two years, buoying overall U.S. oil output to a record of about 11 million barrels per day.

August 2, 2018