Roughnecks take a break from working the Peterson Drilling Company rig in Carlsbad, New Mexico, February 26, 2000.  (Photo by Joe Raedle)

Wells Fargo trimming energy borrowing bases an average 15 percent, lender says

“In our tougher deals, we’re seeing a 30 to 40 percent drop and the better deals are flat to maybe even a little bit up,” said Rich Gould, head of energy credit and risk management at Wells Fargo during a panel hosted by Thompson & Knight in Houston on Thursday.
IHS report: Oil company hedging makes a big drop in 2016

Credit cuts could hurt but won’t affect U.S. oil supplies, researchers say

At least two thirds of the oil and gas extracted from fields in the Lower 48 are controlled by large producers that don’t rely heavily on reserve-based corporate loans or aren’t expected to be reviewed this year, Wood Mackenzie says.
Ben van Beurden, chief executive officer of Royal Dutch Shell Plc, pauses as the company announce their fourth-quarter results in London, U.K., on Thursday, Jan. 29, 2015. Van Beurden pledged to do all he can to maintain payments to shareholders of Europe's largest oil company after crude prices fell by more than half in the past six months. Photographer: Chris Ratcliffe/Bloomberg  *** Local Caption *** Ben van Beurden

Shell CEO Ben Van Beurden says dividend will remain top priority amid low oil prices

Royal Dutch Shell Plc is “pulling out all the stops” to safeguard its dividend in a world where oil prices remain “lower for longer,” Chief Executive Officer Ben Van Beurden said.
Martin Craighead, president and CEO of Baker Hughes Incorporated, speaks at the facility located at 9110 Grogans Mill Road Monday, Feb. 3, 2014, in The Woodlands. (Melissa Phillip/Houston Chronicle)

Activist investor discloses plans for Baker Hughes

The San Francisco hedge fund, well known for muscling its way into companies and taking actions to boost stock prices, has since increased its stake in Baker Hughes to 5.3 percent and outlined a possible strategy for bumping the company’s stock value higher.
(Jerry Lara/San Antonio Express-News)

IHS: North American oil hedges sink to 11 percent in 2016

The protective hedges used by 48 petroleum companies IHS examined will cover 60 percent less of their expected production than this year.
A worker stands in front of a stockpile of copper-gold concentrate from Freeport McMoRan Inc.'s Grasberg copper and gold mine at the company's processing facility in the port of Amamapare, Papua province, Indonesia, on Tuesday, April 21, 2015. (Dadang Tri/Bloomberg)

Freeport-McMoRan may spin off oil and gas business

Freeport-McMoRan Inc., the world’s biggest publicly-traded copper producer, is reviewing “strategic alternatives” for its oil and gas business amid a slump in commodity prices.
Chesapeake CEO Robert "Doug" Lawler speaks at the IHS CERAWeek energy conference in Houston on March 4, 2014. (Mayra Beltran/Houston Chronicle)

Chesapeake Energy renegotiates $4 billion line of credit, sparking bondholder selloff

Earlier this week, the company eliminated 740 jobs and let go of about one in six of its employees, as part of Chief Executive Officer Doug Lawler’s plan to combat the weak energy market by reducing headcount, selling assets, spinning off business lines and halting a 14-year run of dividend payouts to stock investors.
CEO John Schiller at the Energy XXI offices in Houston on Sept. 19, 2012. (Dave Rossman/For the Chronicle)

Energy XXI’s CEO received personal loans from vendors, board member

Energy XXI says it has learned its chief executive borrowed funds from acquaintances and some of the company’s vendors and received a personal loan from a member of the company’s board before the director’s appointment.
EIA: Eagle Ford Shale production to dip in July

EIA: Oil firms’ deficit between spending and cash balloons to $50 billion

The plunge in crude prices cost oil companies some $35 billion in operating cash flow in the second quarter, the U.S. Energy Information Administration said Thursday.
A protestor takes part in the "Flood Wall Street" demonstrations and march on September 22, 2104 in lower Manhattan , preceeding the United Nations's "Climate Summit 2014: Catalyzing Action" in New York. AFP PHOTO/Timothy A. ClaryTIMOTHY A. CLARY/AFP/Getty Images

Fossil-fuel divestment movement exceeds $2.6 trillion

The surge in support for the divestment movement shows growing awareness of the role fossil fuels play in climate change, and growing concern among the general public.