Closing Bell Story‎

McDermott International, Inc., (MDR) today announced it has been awarded a sizeable transport and installation contract by an upstream oil and gas operator for a project offshore Trinidad, West Indies. The contract award includes the transport and installation of a 1,000-ton deck and 1,600-ton jacket. It also covers the onshore fabrication, reel-lay and pre-commissioning of 14,000 feet of 14-inch pipeline

Tesoro Corporation (TSO) (“Tesoro”) has agreed to acquire Great Northern Midstream LLC (“Great Northern Midstream”), a crude oil logistics provider which owns and operates high-quality, recently constructed crude oil pipeline, gathering system, transportation, storage and rail loading facilities in the Williston Basin of North Dakota. The transaction includes the 97-mile BakkenLink crude oil pipeline, which connects to several third-party gathering

Columbia Pipeline Group, Inc. (CPGX) (“CPG”) today announced the closing of its public offering of 71.5 million shares of common stock at a public offering price of $17.50 per share. In addition to the 71.5 million shares of common stock issued and sold at closing, 10.725 million shares of common stock were issued and sold at closing pursuant to the

Story by Bloomberg The global oil industry is set to repeat this year’s $200 billion of investment cuts in 2016, raising even more concerns than the current slump in crude prices, according to the chief executive officer of Italy’s Eni SpA. “What is worrying me is not the price of today; it is what is happening in the industry,” CEO

From CNBC Activist investor Carl Icahn has raised his stake in struggling Cheniere Energy, Dow Jones reported Monday. The billionaire boosted his stake to 13.8 percent from 12.7 percent previously, according to the wire service. Icahn has upped his exposure to Cheniere eight times since he took his initial 8.2 percent position in August. Icahn was already Cheniere’s largest shareholder,

Dozens of North American oil and gas producers have commenced Chapter 11 bankruptcy cases this year, including most recently, Escalara Resources Co., RAAM Global Energy Company, Miller Energy Resources, Inc., and Parallel Energy LP. The E&P cases filed so far in 2015, including Chapter 7, Chapter 11, and Canadian cases, involve approximately $13 billion in cumulative secured and unsecured debt,

From the Silicon Valley Business Journal Startup founders may have to work a little harder for funding as top venture capital firms pull out of early stage investing. Early stage activity with “smart money” — venture investors CB Insights says have had the best success — has trended downward over the past six quarters. CB Insights reports that seed and

Story by CNN Good news drivers: oil prices have tumbled to the cheapest levels since the Great Recession. Oil tumbled another 6% on Monday to as low as $37.50 a barrel, its weakest level in almost seven years. A massive supply glut has wiped out two-thirds of oil’s value after it peaked at nearly $108 a barrel in June 2014.

Ensco plc (ESV) announced today that Carey Lowe has been named chief operating officer. He is based in London and succeeds Mark Burns, who is retiring from the Company. Lowe has held various executive management positions at Ensco since joining the Company in 2008. His experience includes operations, engineering, safety and strategy. “We look forward to Carey leading our global