A Swift Energy Co. production facility in Lake Washington off the Louisiana coast. (Swift Energy Co.)

Swift Energy risks NYSE delisting

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Swift, which focuses on exploration and production in Texas and Louisiana, has struggled financially for a few years, but has seen its value dip precipitously along with oil prices since last year.
Furmanite service technicians install a custom-engineered leak sealing enclosure to prevent their client from having to shut down a process unit. (Furmanite)

New Furmanite chairman named after proxy fight

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Jeffery G. Davis, retired CEO of the Brock Group, was unanimously named executive chairman after he recently joined the board as a part of the proxy battle settlement. The former chairman resigned earlier this year and CEO Joseph Milliron had served as the interim chair.
(Photographer: Andrey Rudakov/Bloomberg)

Shell to ax thousands of jobs amid $7 billion in spending cuts

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The company, which in April said it was confident prices would return to $90 a barrel in three years, on Thursday said that “today’s oil price downturn could last for several years.”
A Swift Energy Co. production facility in Lake Washington off the Louisiana coast. (Swift Energy Co.)

Struggling Swift Energy hires firm to weigh financial options

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Houston-based Swift, which closed at 74 cents a share Tuesday on the New York Stock Exchange, has hired Lazard Freres & Co. as an adviser as it considers its capital structure and financing alternatives.
(Photo by Eddie Seal for Bloomberg News)

Billionaire said to be considering sale of U.S. shale gas holdings

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Indian billionaire Mukesh Ambani’s Reliance Industries Ltd. is weighing a sale of its U.S. shale gas investments, people with knowledge of the matter said.
Jeff Allyn, a derrick hand with Raven Drilling, pauses with a cup of coffee while drilling for oil in the Bakken shale formation on July 23, 2013 outside Watford City, North Dakota. (Andrew Burton/Getty Images)

Oil majors delay $200 billion of spending, Wood Mackenzie says

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Brent crude prices have dropped by half in a year after the Organization of Petroleum Exporting Countries decided to maintain output to defend market share amid a global supply glut.
Halliburton CEO Dave Lesar (Melissa Phillip/Chronicle)

Paychecks rose for some Houston energy CEOs in 2014

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The 10 highest-paid executives in Houston last year all work in the energy industry, despite domestic oil’s long and lingering swoon.
Drivers fill up their vehicles at a Sunoco station on Wednesday, Feb. 4, 2015, in Cohoes, N.Y.   (Paul Buckowski / Times Union)

Energy Transfer Partners to shift retail business in $1.94 billion swap

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The so-called drop down deal will sharpen Dallas-based Energy Transfer Partners’ focus on the midstream sector, while also concentrating Energy Transfer’s retail and convince store business in Sunoco LP.
Siemens CEO Joe Kaeser (Getty Images)

Siemens said to need service sales boost to meet margin goal

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Chief Executive Officer Joe Kaeser, who is focusing Siemens on energy generation and distribution, last year spent $7.6 billion on acquiring oil and gas specialist Dresser-Rand Inc. to boost the company’s installed base of equipment and gain the associated lucrative service contracts.
(Paul White/(AP photo)

Repsol’s CEO courts skeptical investors after $13 billion deal

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Based on analysts’ target prices, Repsol is expected to underperform the 18-member Bloomberg Intelligence Global Integrated Oil Index. That’s despite it being only one of five companies where profits are predicted to rise next year.