Posts filtered on Tag
Midstream contracts are usually the last things production companies will let go. But with oil near $30 per barrel, most oil and gas transporters have several producers on the ropes who have or are considering letting those promises lapse.
Two hurdles for the projects could delay NRG’s plans indefinitely, however.
North Carolina-based Duke, which is the nation’s top power generator, currently runs its Central and South American power plants from Houston.
The Houston-based oil and gas producer said it booked a total of $5.4 billion of after-tax charges, mostly due to cheap oil eroding the value of its assets.
The oilfield equipment and services giant saw its revenues drop 60 percent in the quarter, but NOV also recorded $1.63 billion in pre-tax impairment charges.
The use of LNG and compressed natural gas — another new CNG fueling station opened Thursday in Houston — in commercial vehicles has rapidly expanded because of the nation’s cheap and bountiful supply of natural gas.
Despite the massive cutbacks, Texas in 2015 likely broke the state’s 43-year-old record for crude oil production.
A relatively small and quiet oil field services company, Keane Group is more than doubling its size through the deal with the goal of additional future acquisitions, said Keane CEO and Chairman James Stewart.
The position is a new one Paul Hastings, he said, which already has a robust oil and gas practice.
Costco sold gasoline 20 cents per gallon lower than its competitors throughout 2015 and offered the cheapest prices in 12 states, including Texas.