Public Capital
Public Capital , Exploration & Production , Shale Plays
US Shale Producers Cut Executive Pay As Oil Prices Crash
U.S. shale producer Parsley Energy said March 18 it would slash executive pay 50%, the deepest such cut announced so far since the oil price collapse.
Restructurings , Public Capital , Exploration & Production , Shale Plays
Shale Producer Gulfport Energy Reportedly Hires Restructuring Adviser
Gulfport Energy has lost four-fifths of its market value since the start of the year, and now has a market cap of $90 million.
Public Capital , People , Transactions , Midstream
Marathon Petroleum Retains Midstream Unit, Names MPLX Head As CEO
Marathon Petroleum said the separation of midstream unit MPLX would be cash-flow negative and require between about $11 billion and $15 billion that would otherwise go toward shareholder returns.
Public Capital , Exploration & Production , Shale Plays , Technology
Halliburton To Furlough 3,500 Workers As Shale Producers Cut Spending
Halliburton's stock has fallen around 70% in the past four weeks, to $6.14. The oilfield services provider already took a series of aggressive cost-cutting measures last year.
Public Capital
New Financings: High-yield Hopes Quashed For Oil And Gas
The debt market door remains open for higher-rated issuers, but it slammed shut for lower-rated names, as WTI prices fell after ending 2019 north of $60/bbl.
Restructurings , Public Capital , Exploration & Production , Shale Plays
Chesapeake Energy Hires Restructuring Advisers To Help With $9 Billion Debt
The collapse in oil and weak gas prices has further crippled Chesapeake Energy, the shale energy pioneer already facing a $9 billion debt pile.
Public Capital , Exploration & Production , Shale Plays
Exxon Mobil, Hess, Concho, Callon, Kosmos Join US Producers Tightening Capex
On average, Reuters estimates North America oil and gas producers have cut their 2020 budgets by about 30% since the fall in oil prices.
Public Capital , Acquisitions & Divestitures , Trends , Mergers
Stock Market Rout Doubles Pain For Oil Firms That Took Shares For Deals
EnCap Investments pulled off a rarity in the U.S. shale business earlier this month with the sale of Felix Energy to rival WPX. However, EnCap's big payday proved short-lived.
Public Capital , People , Shale Plays , Pressure Pumping
ProPetro Names Phillip Gobe As CEO Following Co-founder’s Resignation
ProPetro disclosed Dale Redman, co-founder and former CEO, had violated its insider trading policies over shares pledged for personal loans, which led the company to submit false statements to the SEC.
Public Capital , Unconventional , Shale Plays
Few US Shale Producers Can Withstand Prolonged Oil Price War, Analysts Say
Just 16 U.S. shale companies operate in oil fields where the average new well costs are below $35 per barrel, according to Rystad Energy.