Corporate Governance

Source: Reuters

Whiting Petroleum is just the ‘first domino’ to fall in US shale wipeout, strategist says

CNBC


Wednesday’s Chapter 11 bankruptcy filing for Colorado-based Whiting Petroleum is a grim omen of things to come, experts say, as oil prices face historic collapse amid the coronavirus crisis and the Saudi-Russia oil price war.

The company is the …

Whiting Petroleum Corporation reaches agreement in principle with certain of its noteholders to pursue consensual financial restructuring

Whiting Petroleum Corporation reaches agreement in principle with certain of its noteholders to pursue consensual financial restructuring

Whiting Petroleum


Commences Chapter 11 Reorganizational Process to Right-Size Capital Structure

DENVER–(BUSINESS WIRE)–Apr. 1, 2020– Whiting Petroleum Corporation (NYSE: WLL) and certain subsidiaries (collectively, “Whiting” or the “Company”) today announced that they had commenced voluntary Chapter 11 cases …

Equitrans Midstream Corporation Appoints New Director

Equitrans Midstream Corporation Appoints New Director

April 1, 2020 - 6:30 am Corporate Governance, Press Releases

EarthTronics Appoints Mantei Midwest Regional Sales Manager

EarthTronics Appoints Mantei Midwest Regional Sales Manager

March 31, 2020 - 12:18 pm Corporate Governance, Press Releases

TGI Board Appoints New CEO, Robert H. Bucher

TGI Board Appoints New CEO, Robert H. Bucher

March 31, 2020 - 9:50 am Corporate Governance, Press Releases

Adams Resources & Energy, Inc. Announces New President For GulfMark Energy, Inc.

Adams Resources & Energy, Inc. Announces New President For GulfMark Energy, Inc.

March 30, 2020 - 8:02 am Corporate Governance, Press Releases

Antero Midstream Announces Appointment of Janine J. McArdle to the Board of Directors

Antero Midstream Announces Appointment of Janine J. McArdle to the Board of Directors

March 30, 2020 - 6:45 am Corporate Governance, Press Releases
Source: Houston Chronicle

Apache makes deeper cuts while its Permian Basin rig count goes to zero

Houston Chronicle


Houston oil company Apache Corp. is making deeper budget cuts while its Permian Basin rig count has declined to zero.

Apache reported Friday that the company has cut $1.3 billion from this year’s capital spending budget, reducing the …

Centennial resource development announces leadership changes

Centennial resource development announces leadership changes

Centennial Resource Development


DENVER, March 27, 2020 (GLOBE NEWSWIRE) — Centennial Resource Development, Inc. (“Centennial” or the “Company”) (NASDAQ: CDEV) today announced it is implementing its previously announced leadership transition plan in light of the fact that Mark G. Papa …

Recon Technology, Ltd Announces the Appointment of Dr. Yonggang Duan to the Board of Directors

Recon Technology, Ltd Announces the Appointment of Dr. Yonggang Duan to the Board of Directors

March 26, 2020 - 8:30 am Corporate Governance, Press Releases
Source: Houston Chronicle

Fracking giants warn shale crash will be faster this time

Houston Chronicle


Two of the world’s biggest oilfield service companies are warning of a bigger shale crash than the one that hit the U.S. and Canada just five years ago.

While the decline in North American drilling rigs could approach …

Occidental Enters into Definitive Agreement with Carl C. Icahn

Occidental Enters into Definitive Agreement with Carl C. Icahn

March 25, 2020 - 9:00 am Corporate Governance, Press Releases
Source: nasdaq.com

Halliburton to ‘significantly’ cut 2020 capex below $1.2 billion budget

Reuters


Oilfield services firm Halliburton (HAL.N) is accelerating its cost-cutting and will significantly reduce spending this year below its original $1.2 billion budget, its finance chief said on Tuesday.

The Houston, Texas-based company did not disclose a new …

Source: Reuters

Occidental names former CEO Stephen Chazen as non-executive chair

Reuters


Occidental Petroleum Corp (OXY.N) on Tuesday named its former chief executive officer, Stephen Chazen, as non-executive chairman of its board in a bid to end a long and bitter fight with activist investor Carl Icahn.

WSJ had …

DTE Energy Appoints David Ruud as Chief Financial Officer

DTE Energy Appoints David Ruud as Chief Financial Officer

March 24, 2020 - 6:54 am Corporate Governance, Press Releases

Parker Drilling Company Appoints Sandy Esslemont President, Chief Executive Officer and Member of the Board of Directors

Parker Drilling Company Appoints Sandy Esslemont President, Chief Executive Officer and Member of the Board of Directors

March 23, 2020 - 6:00 pm Corporate Governance, Press Releases

Richmond Minerals Announces Board Appointment

Richmond Minerals Announces Board Appointment

March 23, 2020 - 5:00 pm Corporate Governance, Press Releases
Source: Houston Chronicle

Occidental, Icahn may be near deal to end boardroom battle

Houston Chronicle


Activist investor Carl Icahn is nearing a truce with Occidental Petroleum Corp. that will see three new directors appointed to the oil company’s board, according to people familiar with the matter.

The deal would also see the billionaire …

Diamondback Energy cuts budget again as oil prices continue to sink

Diamondback Energy cuts budget again as oil prices continue to sink

Houston Chronicle


Midland exploration and production company Diamondback Energy is cutting its 2020 drilling budget for a second time this month as crude oil continue to fall to nearly 20-year lows.

In a statement issued late last week, Diamondback has …

Structural Integrity Appoints Sean Fuller as Executive Director Sales and Marketing

Structural Integrity Appoints Sean Fuller as Executive Director Sales and Marketing

March 20, 2020 - 8:38 am Corporate Governance, Press Releases

CNOOC Limited Announces Appointment of Executive Director and Change of President

CNOOC Limited Announces Appointment of Executive Director and Change of President

March 20, 2020 - 5:40 am Corporate Governance, Press Releases

Madagascar Oil: Appointment to the Board

Madagascar Oil: Appointment to the Board

March 20, 2020 - 3:00 am Corporate Governance, Press Releases

Energy Recovery Announces Departure of VP, Oil & Gas, Appointment of New VorTeq(TM) Development Leader

Energy Recovery Announces Departure of VP, Oil & Gas, Appointment of New VorTeq(TM) Development Leader

March 19, 2020 - 4:02 pm Corporate Governance, Press Releases
Source: Houston Chronicle

Enterprise Products Partners seeks to cut budget as oil war continues

Houston Chronicle


Houston pipeline operator Enterprise Products Partners is looking at ways to trim its multibillion dollar capital expenditure budget cuts as the ongoing oil price war takes its toll on the company’s customers.

In a Wednesday afternoon statement, Enterprise …

Source: Reuters

Marathon Petroleum names midstream boss as new CEO, to retain unit

Reuters


Marathon Petroleum Corp on Wednesday tapped the head of its midstream business, Michael Hennigan, as its new chief executive officer and said it will retain the unit despite demands from shareholder Elliott Management to separate it.

Hennigan replaces company …

Source: Reuters

ConocoPhillips to reduce capex, output and share repurchase program

Reuters


ConocoPhillips, the largest U.S. independent oil producer, on Wednesday pared its proposed spending, production and share buybacks for the year, seeking to prevent an oil-price rout from turning into pool of red ink.

Conoco cut its 2020 budget by …

Source: Houston Chronicle

Halliburton to furlough 3,500 employees in Houston amid falling oil prices

Houston Chronicle


Oilfield service giant Halliburton plans to furlough about 3,500 employees of its Houston headquarters for the next two months amid grim market conditions that include four year-low oil prices and the coronavirus outbreak.

Employees at the company’s North …

Kosmos to scrap dividend, cut spending to generate cash at $35 a barrel

Kosmos to scrap dividend, cut spending to generate cash at $35 a barrel

Reuters


Oil and gas producer Kosmos Energy suspended its dividend on Tuesday and said it was aiming to reduce 2020 capital spending by 30% to become cash flow neutral at an oil price of $35 a barrel.

Oil giants including …

Source: Houston Chronicle

Pioneer Natural Resources cuts budget nearly in half as oil falls below $30

Houston Chronicle


Irving oil company Pioneer Natural Resources is cutting its 2020 budget in nearly half as crude prices slipped below $30 per barrel.

The exploration and production company said late Monday afternoon that it plans to spend between $1.7 …

Source: Reuters

Hess, Concho, Callon join Exxon in tightening budget amid oil crash

Reuters


U.S. producers Hess Corp, Concho Resources Inc and Callon Petroleum Co on Tuesday followed oil major Exxon Mobil Corp in cutting their spending for the year, as oil prices continued to trade below $30 a barrel.

Oil producers are …