Category: Finance/Earnings

Deepwater Horizon damages paid with almost no error, audit shows

The Deepwater Horizon claims office that BP has painted as the source of hundreds of millions in unjust and fictitious payments actually has dispersed damage awards with a 99.5 percent accuracy rate, according to an audit released in court papers Tuesday.  More »

Obama’s punt on renewable fuel sets up fights in court, congress

The delay, announced Friday by the U.S. Environmental Protection Agency, follows months of fighting between refiners and ethanol producers over a proposal by the agency to lower the quotas for ethanol, biodiesel and cellulosic fuels.  More »

Apache to cut North American spending

Apache will cut its North American spending from $5.4 billion to $4 billion, the company told analysts at a presentation in New York, but it said it will be able to spend that money more efficiently.  More »

Endeavour International boss to relinquish CEO post

Endeavour International, a Houston oil explorer that has filed for bankruptcy protection, says its top boss William Transier will relinquish his role as CEO and president next month.  More »

Halcón to pull back from Tuscaloosa Marine Shale

The decision underscores the wide disparity between the economics of established shale plays and younger ones.  More »

KiOR files for bankruptcy, but not Mississippi unit

Kior, Inc., the Houston-area biofuels maker that hoped to tap new technology to produce clean energy, filed for bankruptcy Sunday.  More »

Transocean to retire more rigs, execs say

Transocean lost billions of dollars in the third quarter as it faced sinking demand for offshore rigs and as it wrote down the value of its drilling business.  More »

Transocean expects $2.76 billion in writedowns

Swiss drilling contractor Transocean has written off $2.76 billion in book value for its offshore rigs as it faces falling day rates and weaker demand for deep-water drilling.  More »

Apache optimistic about U.S. shale as profits slip

Apache Corp. reiterated plans to double down on its positions in prolific U.S. shale plays even as crude prices continued to fall and the company’s profits slipped from last year.  More »

CenterPoint Energy profits dip slightly

CenterPoint Energy’s businesses posted higher operating costs and electricity distribution suffered due to milder weather.  More »

Cool temperatures cut into NRG’s 2014 results, as the company bets on home solar

In a call Wednesday, executives at NRG Energy discussed third-quarter results held back by a cool summer before offering a very hot projection for growth in the company’s home solar business.  More »

Antero Midstream raises $1 billion in IPO

The partnership will own and operate pipelines and other assets of natural gas producer Antero Resources, including in the Marcellus Shale in West Virginia and the Utica Shale in southern Ohio.  More »

EOG profit doubles on low-cost wells even as oil price falls

CEO William Thomas boosted EOG’s growth target for oil even in the face of a market slump  More »

Valero’s profit triples in third quarter

Valero attributed the results to wider discounts for crude oils relative to the international benchmark crude and stronger gasoline margins in most regions.  More »

Marathon’s profit falls 24 percent on crude price slump

Marathon Oil reported a 24 percent drop in third-quarter profit, as lower crude prices offset higher production.  More »
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