Tuesday, July 8, 2025

Oil Service Companies FMC Technologies and Technip Announce $13 Billion Merger

Oil service companies FMC and Technip announced a plan to merge in an all-stock deal worth about $13 billion to create a larger player in the energy services sector. The Houston-based FMC Technologies and the Paris-headquartered Technip will combine to form TechnipFMC. FMC investors will get one share in the company, while those with Technip shares will get two, the

Halcon Resources Files for Prepackaged Chapter 11

Halcon Resources announced on May 18, 2016, the company reached an agreement with shareholders and bondholders to enter into a pre-packaged Chapter 11 filing. “The restructuring plan, if implemented, will result in the elimination of approximately $1.8 billion of debt and approximately $222 million of Preferred Equity, and will reduce the company’s ongoing annual interest burden by more than $200

Colorado: Weld County Just Created its Own Oil & Gas Department Oil & Gas 360

BP Wins in Colorado Courts, but Questions Remain

Colorado Supreme Court decision changes tax burden of oil and gas companies The Colorado Supreme Court found in favor of BP (ticker: BP) in a case that could have major tax ramifications for the state. The court unanimously sided with the company that the State of Colorado incorrectly disallowed tax deductions related to BP’s cost of capital in the transportation,