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.
Royal Dutch Shell PLC has issued a profit warning for the fourth quarter, saying results will be worse than most analysts expected due to a mix of lower production, higher costs, and a worse performance by its refining division
Federal regulators scrutinizing Shell’s bid to resume Arctic drilling next summer are pressing the company for more evidence it has fixed the kind of problems that plagued its last search for black gold in the region.
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