(Andrey Rudakov/Bloomberg)

Eurasia Drilling slumps as Russia fails to rule on Schlumberger deal

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Russia’s foreign-investment commission met Thursday yet didn’t make a decision on Schlumberger’s bid, Natural Resources Minister Sergei Donskoi said by phone, without giving a reason.
John Hess, chairman and CEO of Hess Corp. (F. Carter Smith/Bloomberg )

Hess to sell $2.7 billion stake in Bakken pipes to private equity firm

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Oil producer Hess Corp.’s midstream venture will have a new partner in Global Infrastructure Partners at the cost of a cool $2.7 billion.
Laborers' International Union of North America (LiUNA) members cheer in support of a speaker during a State Department public hearing on the Keystone XL pipeline in Washington, D.C., U.S., on Friday, Oct. 7, 2011. (Andrew Harrer/Bloomberg)

Activist investors win victory against Willbros Group board

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The Laborers’ International Union of North America, or LIUNA, that led the push said that about 60 percent of voting shares approved the non-binding proposal to eliminate Willbros’ current system of staggered three-year terms for its board of directors. Investor groups contended that more accountability was needed to move past allegations of mismanagement and entrenched cronyism.
Columbia Pipeline Group

PennTex Midstream IPO the latest for MLP investors

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The deal is the latest feather in the cap for Natural Gas Partners, a private equity group that has invested roughly $16.5 billion since it was founded in 1988.
An oil well owned an operated by Apache Corporation in the Permian Basin are viewed on February 5, 2015 in Garden City, Texas. (Photo by Spencer Platt/Getty Images)

Energy industry financial stress at highest level since 2010

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A measure of the stress on the energy industry’s finances is at its highest mark in nearly five years, and well above the 4.7 percent mark the company gave the wider economy, Moody’s said.
William Transier (Endeavor)

Endeavour International puts all its assets up for sale

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Houston-based Endeavour said Monday it launched a marketing process to sell its United Kingdom-based North Sea assets. The announcement came after Endeavour previously said in April that it put its U.S. assets up for sale. All of Endeavour’s operations are in the North Sea and U.S. shale.
A dynamic positioning and marine environment simulator used for simulation and training on exhibit in the Jelec booth at the Offshore Technology Conference at the NRG Center Tuesday, May 5, 2015, in Houston, Texas. (Gary Coronado / Houston Chronicle)

Major offshore vessel contractor could be in the market for acquisitions, CEO says

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The CEO of vessel contractor Tidewater says the oil bust could be an opening to scoop up smaller rivals in marine services as corporate consolidations could help offshore firms cope with the downturn.
Vanguard Natural Resources

Low oil and gas prices spur Vanguard’s two big acquisitions

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Low oil and gas prices contributed to Vanguard Natural Resource’s decision to make two significant acquisitions in less than 40 days, the Houston company’ chief financial officer said Tuesday morning.
Original byline: Jim Blecha/

Vanguard Natural Resources scoops up smaller Houston rival for $474 million

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The most recent deal comes on the heels of Vanguard’s announcement in April that it will acquire LRR Energy LP for more than $250 million.
The shadows of  workers in the Permian Basin on February 5, 2015 in Mentone, Texas. (Photo by Spencer Platt/Getty Images)

Lenders give Sabine Oil & Gas more time

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Sabine Oil & Gas says its lenders have agreed not to force a debt default Thursday while they continue to discuss the company’s options to fix its balance sheet.