(Simon Dawson/Bloomberg)

Transocean’s June drilling contracts come in at year high

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It’s the first time since December that Transocean has drawn more than $100 million in contracts this year, well above the monthly average of $22 million it saw in the first five months of 2015.
The shadows of  workers in the Permian Basin on February 5, 2015 in Mentone, Texas. (Photo by Spencer Platt/Getty Images)

The shale industry could be swallowed by its own debt

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The problem for shale drillers is that they’ve consistently spent money faster than they’ve made it, even when oil was $100 a barrel.
Oil field workers in 2012  drill into the Gypsum Hills near Medicine Lodge, Kan.   U.S. Steel said Tuesday it will lay off about 750 employees from two plants that make tubular steel, which is used in oil and gas drilling(AP Photo/Orlin Wagner, File)

Efficiency gains in the oil patch could be short lived, consultants say

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Today’s efficiency gains, especially those driven by 20 to 30 percent discounts off the cost of oil field tools and services, could be short lived if drilling rigs ride high again after the end of the downturn, which will come sooner or later.
Workers remove the drill pipe on the drilling floor of Development Driller III, which drilled the relief well and pumped the cement to seal the Macondo well, the source of the Deepwater Horizon rig explosion and oil spill, in the Gulf Of Mexico, off the coast of Louisiana, Saturday, Sept. 18, 2010. (AP Photo/Gerald Herbert)

Sabine Oil & Gas skips $21 million interest payment

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Sabine is just the latest U.S. oil producer to show signs of financial stress in the oil market crash. Oil producers Quicksilver Resources, Dune Energy, BPZ Resources and American Eagle Energy have all filed for bankruptcy protection this year.
A spinoff of National Oilwell Varco announced plans to buy a company that supplies the energy industry with pipes, valves and fittings.

Shell Midstream registers $361 million more units

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Shell Midstream sold the 7,692,308 common units in a May 2015 private deal with investors at a price of $39.00 per unit, according to documents filed Friday with the SEC.
(Nabors photo)

Nabors shareholders OK executive pay after overhaul

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Investors have given Nabors Industries its first symbolic nod of approval on its executive compensation, a sign the land driller’s efforts to rein in large paydays have paid off.
(AP Photo/Lisa Poole, File)

Fortune 500: Oil prices take slight toll on rankings for Houston companies

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Some Houston-based oil and gas companies saw their rankings slip this year after months of low commodities prices hammered the industry.
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.
(David Paul Morris/Bloomberg)

Oil’s green investors win Trojan horse victories in board access

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Investor majorities at 21 energy companies have embraced proxy access this year. Adding Chevron to that group is an important victory for investors such as New York City Comptroller Scott Stringer, who backed the measure as a means of infiltrating corporate boards with green activists.