BP has agreed to pay a record $18.7 billion to settle the federal and state claims against it for its role in the Deepwater Horizon oil spill, sidestepping years of litigation with a promise to pour funds for nearly two decades into efforts to repair vast environmental damage in the Gulf region.
SandRidge, the Oklahoma City-based producer, had about 90 percent of its oil and natural gas liquids output hedged in early 2015, according to a regulatory filing. Next year, the hedges cover less than a third.
Shallow-water driller Hercules Offshore is planning to hand ownership of the company to its creditors in a financial restructuring deal that will require it to seek Chapter 11 bankruptcy protection by early July.
Crude’s price slump, pressure to get off fossil fuels and tax increases in Alberta are adding to high costs and a lack of pipelines, prompting producers from Suncor Energy Inc. to Imperial Oil Ltd. to accelerate a shift to smaller projects.
Francis gave Catholics little room for maneuver, writing that Christians “realize that their responsibility within creation, and their duty towards nature and the creator, are an essential part of their faith.”
Noble Energy outbid at least two other companies interested in buying Rosetta Resources by sweetening its offer and agreeing to pay a higher premium for the smaller independent producer than the other firms were willing to spend, newly released regulatory filings reveal.
Records indicate that the company, Dan D Drilling, was cited in June 2013 for allowing the use of an open-flame heater on one of its rigs. Dan D Drilling received 10 OSHA violations and faces penalties.
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