Sometimes, bankruptcy may be the better option. That seems to be what Dynegy’s bondholders are thinking. Earlier this week they spurned a plan by the struggling Houston-based power company to replace existing bonds with ones that have a lower face value. Fewer than 10 percent of the face value of the existing $1.25 billion worth [...] More »
Oil rose today as concerns grew about the potential impact of Hurricane Irene on U.S. oil and gas supplies. More »
The private equity managers, oil companies and high-income earners that have been the Obama administration’s prime targets for tax increases will be in Democrats’ crosshairs in the next phase of deficit-reduction efforts. More »
Search for details on executives at publicly held companies based in Houston or with major operations here, based on total compensation in 2010. More »
Officials say Chevron Corp. will pay a $900,000 fine to settle claims that an estimated 140,000 gallons of oil leaked from a tank farm in Hampden, Maine.
Onshore driller Patterson-UTI and power plant operator GenOn are two of the local companies who get bad marks for transparency and good corporate citizenship, according to a magazine’s annual audit. More »
Over the next several years, the Houston office of Gilbane Building Co. will be constructing one of the most high-profile real estate projects ever to be developed in this area: the Exxon Mobil campus in north Harris County.
Providence, R.I.-based Gil… More »
Energy Transfer Equity, which had its offer for Houston-based Southern Union Co. topped by Williams Cos. last month, has sweetened its bid. In a filing with the Securities and Exchange Commission, Energy Transfer said it would raise its offer to $40 a share in cash and partnership units. That bests Williams’ offer of $39 a [...] More »
The Houston-based firm said its doesn’t necessarily believe William Co.’s counter offer is better than the original deal offered by Energy Transfer Equity, but that it needs to be sure it fulfills its duty to shareholders to consider which deal is better. More »
Jealous much? Energy Transfer Equity tells Southern Union Co. it isn’t allowed to talk to rival suitor Williams Co. They did so anyhow.
If you can’t beat ‘em, threaten ‘em. That seems to be Energy Transfer Equity’s response after its $4.2 billion offer for Houston-based Southern Union Co. was topped last week. Williams Cos. of Tulsa, Okla., offered $4.9 billion. Today, Energy Transfer responded with a lawyer love letter informing Southern Union that it can’t talk to Williams. [...] More »
A change in how the Securities and Exchange Commission allows oil and gas companies to book reserves has helped bolster the balance sheet for many companies. More »