Fieldwood Hungry for US Offshore Output
The Chief Executive of offshore oil and gas driller Fieldwood Energy LLC, Matt McCarroll, says he is not scared of the hurricanes, geological risks and costs that keep some oil companies out of the Gulf of Mexico.
Energy XXI Files for Bankruptcy
U.S. oil and gas producer Energy XXI Ltd, which has operations in Louisiana, Texas and the Gulf of Mexico, said on Thursday it has filed for bankruptcy protection, becoming one of the biggest casualties of the oil rout to date.
Private Equity Emerges as Last Resort Energy Lender
U.S. energy companies facing a likely cut in their bank loans are seeking a costly alternative - borrowing from private equity firms at hefty interest rates to stay alive for longer. In a sign of the times, U.S.
Oil, Bonds Go Their Separate Ways
The rebound in oil prices has not been enough to stop the bleeding at many US energy companies, whose bonds keep weakening - and whose ability to muster fresh capital is dwindling away. Oil and bond prices are moving in opposite directions…
Oil Platform Ablaze in the Gulf of Mexico
Fire broke out on an unmanned oil platform in the Gulf of Mexico approximately five miles south of Port Fourchon, La., the Bureau of Safety and Environmental Enforcement (BSEE) reported. BSEE is…
S&P Downgrades Eight US Oil & Gas Firms
Standard & Poor's has downgraded eight US oil and gas exploration and production companies after the ratings agency completed a review of the sector in light of the steep decline in oil prices.
Banks Reassess Credit for U.S. Energy Firms
Banks are responding to tumbling crude prices by trimming the value of oil reserves tied to credit lines, possibly causing a cash crunch for some highly-leveraged U.S. exploration and production firms. With U.S.
Pain Looms for Some US Energy Firms as Banks Reassess Credit
Banks are responding to tumbling crude prices by trimming the value of oil reserves tied to credit lines, possibly causing a cash crunch for some highly-leveraged U.S. exploration and production firms. With U.S.
Armed with New Technology, Oil Drillers Revisit Gulf of Mexico
Advances in drilling technology are reviving the prospects of oil companies in shallow parts of the Gulf of Mexico, helping to squeeze more from older fields while the U.S. shale bonanza lures others onshore.
