Last month, oil and gas producers California Resources and Denbury Resources both filed for Chapter 11 bankruptcy. Together, those firms combined account for $7.7 billion in debt.
EOG Resources said it started to restore curtailed production in June as oil prices recovered from their April lows, and it expects nearly all shut-in wells to begin production before the third quarter ends.
The Harold Hamm-led American Gulfcoast Select is the first new crude benchmark since 2010, designed to more accurately price U.S. liquids being exported by tanker. Will it provide the value uplift as hoped?