Category: Finance/Earnings

Area biofuels company gets extension on Mississippi loan

KiOR, the Pasadena-based firm that has led efforts to develop biofuels from non-food sources but is struggling financially, has gotten an extra four months to resume payments on a loan from the state of Mississippi.  More »

Energy Future execs, directors paid $25.5M before bankruptcy

Court documents filed this week show Energy Future Holdings CEO John Young, directors and other executives collected a combined $25.5 million in compensation in the year before the Dallas power generator filed for bankruptcy.  More »

Cape Wind receives major loan guarantee from feds

Cape Wind Associates LLC received a conditional $150 million loan guarantee from the U.S. Department of Energy for its project off the coast of Massachusetts.  More »

Shale’s junk debt at risk if Fed raises rates

The oil and gas industry’s junk-bond bonanza — which has caused the value of the sector’s speculative-grade debt to triple over the past seven years ago — could be coming to a sudden stop.  More »

Rising costs eat into returns even with high oil prices, IHS says

Oil producers are making less for the capital they’re spending than they did a decade ago, when U.S. benchmark crude prices were below $30 a barrel, a new report shows.  More »

UK audit questions $28 billion of clean power projects

The U.K.’s National Audit Office said it’s not convinced the government decision to award 16.6 billion pounds ($28 billion) of contracts to eight clean-energy projects is worth the risk to taxpayers.  More »

Phillips 66 acquires lubricants company

Phillips 66 announced today that it will buy Spectrum Corp., a Memphis-based specialty lubricants company.  More »

US oil spending could hit $165B on global conflicts, report says

Oil and gas producers could boost their annual spending to $165 billion in the United States as conflicts in Iraq and elsewhere send crude prices higher, according to a report released by Barclays on Wednesday.  More »

Private equity firm adds $2.5B to energy infrastructure funding

First Reserve has closed on a $2.5 billion fund to back energy infrastructure, more than doubling the capital it had gathered to inject into pipeline, storage and liquefied natural gas projects.  More »

Weatherford shareholders approve move to Ireland

Weatherford International will move its headquarters from Switzerland to Ireland, the company announced, following approval of its shareholders at a Monday vote.  More »

Deal may spur drilling in Mississippi, Louisiana

Halcón Resources has leased 314,000 acres in the Tuscaloosa Marine Shale.  More »

Moody’s: Oil and gas sector to grow through 2015

The independent exploration and production sector’s growth will continue into 2015 and only crude prices falling to $80 per barrel would slow it down, according to a new report from credit ratings agency Moody’s Investors Service.  More »

Apollo Global invests $700M in small shale player

Apollo Global Management is pumping $700 million into an Oklahoma oil and gas producer bent on snapping up upstream and midstream properties in the Mid-continent U.S., Texas, Arkansas and Louisiana.  More »

Energy companies dominate Houston’s Fortune 500 members

All but three of the 26 Houston companies on latest Fortune 500 list are in the energy business.  More »

Shakeout threatens shale patch as frackers go for broke

The U.S. shale patch is facing a shakeout as drillers struggle to keep pace with the relentless spending needed to get oil and gas out of the ground.  More »