KBR profits drop 67 percent
KBR reported a 67 percent plunge in fourth-quarter earnings, capping what Chief Executive Officer Bill Utt called "a disappointing year" for the Houston-based company.
View ArticleNatural gas hinders Chesapeake’s gains
Beleaguered Chesapeake Energy Corp. posted $940 million loss in 2012, as low natural gas prices dragged down its results throughout the year, the company reported Thursday. Its year-end results showed...
View ArticleBiggest LBO failure is Energy Future purgatory for KKR
Five years after their record- setting leveraged buyout of Energy Future Holdings Corp., KKR & Co. and TPG Capital are moving closer to a possible new milestone: the biggest bankruptcy of a private...
View ArticleEnsco pumping investment into new rigs
Ensco, one of the leading offshore service providers, is aggressively investing its resources, gambling that robust dayrates of up to $600,000 per day for offshore platforms will make up for the costs...
View ArticleHess tangled family ties targeted in shareholder revolt
Hess Corp. (HES)’s shareholder revolt is taking aim at long-time directors with close ties to the company’s founding family, including two executors of the estate of Leon Hess, who led the oil producer...
View ArticleWeatherford weathers $122 million loss for Q4
Big earnings did not result in big profits for Weatherford in 2012, as it reported record revenue but losses both for fourth quarter and the year.
View ArticleRowan benefits from deep-water focus
Rowan earned $54.1 million in the fourth quarter of 2012, or 44 cents a share, up 19 percent from $45.1 million, or 27 cents a share, in the fourth quarter of 2011.
View ArticleTransocean posts profit as U.S. drilling increases
Transocean last reported a profitable fourth quarter in 2009.
View ArticleTransocean restores dividend after pressure from investor Icahn
Transocean Ltd. (RIG), the owner of the Deepwater Horizon rig that exploded while drilling in the Gulf of Mexico in 2010, reinstated dividend payments following pressure from billionaire shareholder...
View ArticleTransocean chief disappointed with Gulf oil spill insurance ruling
Transocean will fight for its fair share of proceeds from insurance policies providing for at least $750 million in coverage amid an appeals court ruling that allows BP to tap into the money to help...
View ArticleCenterPoint $11B deal reaches further into shale
Houston-based CenterPoint Energy will combine its pipeline assets with those from Oklahoma’s OGE Energy in an $11 billion deal that will give the partnership’s network more access to shale plays and...
View ArticleChesapeake to sell $2.3B in notes to pay off debt
As part of its drive to pare down its debt load, Chesapeake Energy will sell $2.3 billion in senior notes.
View ArticleBP announces $8 billion share buyback following deal with Rosneft
BP’s sale of its 50 percent stake in TNK-BP to Russian state oil company Rosneft is allowing the British oil giant to launch an $8 billion share buyback program.
View ArticleLow energy stock prices make for bargain buys, venture capitalist says
Most energy stocks are priced far below the value of their assets, leaving the door open for investors to profit greatly from the recent energy boom, according to Joseph Dancy, a venture capitalist and...
View ArticleHarvard under pressure to divest from fossil fuels
The world’s richest universities are facing a quandary. Students are demanding that over the next five years schools purge their endowments of investments in 200 publicly traded companies with the...
View ArticleHigher natural gas prices will boost companies’ profits
A recent rise in natural gas prices is expected to give natural gas companies a much needed boost in first quarter earnings, an analyst’s report said Tuesday.
View ArticleKinder Morgan quarterly earnings more than triple
The Houston-based pipeline giant reported profits of $792 million for first quarter, up from $208 million for the same period last year.
View ArticleNoble quarterly earnings grew 25 percent
The Swiss-based Noble Corporation reported first quarter 2013 earnings of $150 million, up 25 percent from $120 million for the same time last year.
View ArticleSchlumberger first-quarter profit falls 3 percent
Schlumberger, the world’s largest oil field services firm, reported Friday that its first-quarter earnings fell 3 percent despite a rise in revenue.
View ArticleGE profits rise with oil and gas expansion
Orders for oil and gas equipment rose 24 percent in the first quarter, as GE is reshapes itself into a more focused conglomerate that sells and services industrial equipment and appliances.
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