Sunday, July 5, 2020
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Oil & Gas Press Releases

Continental Resources, Callon join shale peers in cutting oil output

May 11 (Reuters) - U.S. shale producers Continental Resources Inc and Callon Petroleum Co on Monday joined their peers in cutting production to cope with a rout in oil prices as the coronavirus crisis saps demand for fuel. A month-long oil price war between Saudi Arabia and Russia and the economic fallout from the...

(UPDATE) 2-Valero warns of up to $2.1 billion first quarter loss on demand drop

(Adds background, SEC inquiry, company, analyst comment) April 13 (Reuters) - Independent U.S. refiner Valero Energy Corp warned of an up to $2.1 billion first quarter loss and withdrew its full-year outlook on Monday, as lockdowns to suppress the coronavirus hit demand for its gasoline, jet fuel and other products. Refiners have cut production and...

Chesapeake investors vote for reverse stock split to boost share prices

April 13 (Reuters) - Chesapeake Energy Corp shareholders on Monday voted in favor of a reverse stock split, a move that is expected to boost the debt-laden shale producer's share price to avoid a delisting that could trigger calls for some immediate debt repayment. Creditors holding more than $1 billion of Chesapeake debt have the...

Valero pulls forecast, will defer or delay some refining expenses

April 13 (Reuters) - Independent U.S. refiner Valero Energy Corp said on Monday it was withdrawing its annual forecast and would defer or delay certain refining and ethanol related spending it had earlier planned for the year. The company said in a filing its refining segment has suffered a drop in demand as...
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Buffett’s Berkshire to buy Dominion Energy gas assets for $4 bln

July 5 (Reuters) - Warren Buffett's Berkshire Hathaway Inc said on Sunday it agreed to buy Dominion Energy Inc's natural gas transmission and storage...

Wall Street sees Exxon paring asset values on weakening demand

HOUSTON, July 2 (Reuters) - Exxon Mobil Corp assets are likely overvalued in light of weak oil-demand outlook, according to Wall Street analysts, and...

Oil falls below $43 on virus fears, still heads for weekly gain

LONDON, July 3 (Reuters) - Oil fell below $43 a barrel on Friday as a resurgence of coronavirus cases raised concern that fuel demand...

Refiner Phillips 66’s return-to-work policy stirs unease as virus flares

DENVER/HOUSTON, July 3 (Reuters) - About 20 employees of U.S. oil refiner Phillips 66 tested positive at its Texas headquarters for COVID-19 in recent...
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