Houston oil and gas producer EnerVest Ltd. has agreed to purchase two assets in Virginia and South Texas for $1 billion, expanding the private company’s portfolio at a time when others are shrinking their footprint and shedding acreage to raise much-needed cash.
As oil companies scrap cash bonuses and raises amid a brutal downturn with no end in sight, one offshore drilling company is offering extra pay for some key employees it hopes to keep during difficult times.
NRG, which is in the midst of a “reset” to cut costs and spin off its financially struggling solar and wind businesses, announced $67 million in net income for the quarter, down from $182 million during the same time last year.
In a release after the markets closed, the Houston-based oil logistics company maintained its position that the next few months would be challenging and also reiterated that it expects to be well positioned when prices recover.
FuelFix.com is your daily must-read source for news and analysis on the energy business. Anchored by business reporters at the Houston Chronicle and other Hearst Newspapers, Fuel Fix incorporates blogs by energy experts, market updates, useful data and a real-time summary of the top ideas, hottest stories and latest news in the oil, gas and energy industries.
Browse previous blog posts by month and year of entry. You'll see all the posts for that time period.