Category: Finance/Earnings

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 »

Ranked: Oil industry brands sluggish as tech value soars

Brand value for oil and gas companies grew just 3 percent during the past year, a slower rate than all other industries in an annual global ranking released this week by research agency Millward Brown.  More »

PDVSA signs $2.2 billion oil service financing to boost drilling

Petroleos de Venezuela SA, the country’s state oil company, signed deals with oil service companies Schlumberger, Halliburton and Weatherford International.  More »

Regulators: Eagle Ford boom tempts banks to make riskier loans

Long years of wringing small profits from cheap loans have tempted banks to lend more money under riskier terms, and nowhere more so than in the Texas oil boom towns where restaurateurs and hoteliers come calling every day, regulators say.  More »

Bank loan standards bending for oil companies amid shale rush

As major shale plays fuel the nation’s energy production, some aspects of Texas banking are starting to echo the overzealous oil and gas lending of the past, says David Zalman, chairman and CEO of Houston-based Prosperity Bancshares.  More »

Oklahoma lawmakers to unveil new tax rate proposal for wells

An incentive for a 1 percent tax rate for horizontally drilled oil and gas wells would be increased to 2 percent and extended to all wells drilled in Oklahoma under a bill drafted in the Oklahoma Legislature on Monday.  More »

Energy Future sued by lenders’ trustee for $665 million

nergy Future isn’t entitled to a “windfall” from failing to pay the premium owed for early redemption of debt, CSC Trust Co. of Delaware, which represents most holders of a unit’s $3.5 billion in 10 percent senior secured notes, said in the lawsuit  More »