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Carolyn Davis

Carolyn Davis joined the editorial staff of Intelligence Press Inc. in Houston in May, 2000. Prior to that, she covered regulatory issues for environmental and occupational safety and health publications. She also has worked as a reporter for several daily newspapers in Texas, including the Waco Tribune-Herald, the Temple Daily Telegram and the Killeen Daily Herald. She attended Texas A&M University and received a Bachelor of Arts degree in journalism from the University of Houston.

McDermott Emerges from Chapter 11, with $4.6B Wiped from Debt

McDermott Emerges from Chapter 11, with $4.6B Wiped from Debt

Houston-based McDermott International Ltd. has emerged from voluntary bankruptcy and cleared nearly all of its $4.6 billion debt off the books. The engineering, procurement and contracting (EPC) giant, which launched restructuring through Chapter 11 early this year, emerged with a $2.4 billion letter of credit capacity and $544 million of funded debt. “We will continue…

July 2, 2020
Hilcorp Taking Over BP’s Legacy Alaska Upstream Portfolio

Hilcorp Taking Over BP’s Legacy Alaska Upstream Portfolio

Houston’s Hilcorp Energy Co. has completed a takeover of BP plc’s upstream portfolio in Alaska and is nearing a handoff of the midstream unit, allowing the private explorer to become one of the state’s biggest operators. The $5.6 billion deal struck last year with BP hands affiliate Hilcorp Alaska immediate control of BP Exploration (Alaska)…

July 2, 2020
Eni’s Natural Gas Discovery Offshore Egypt Adds to Plethora of Eastern Med Opportunities

Eni’s Natural Gas Discovery Offshore Egypt Adds to Plethora of Eastern Med Opportunities

Italian supermajor Eni SpA has struck natural gas in its first exploration well in the North El Hammad offshore Egypt in the Nile Delta, adding to a gusher of opportunities in the region.  Eni, which operates the block in the Eastern Mediterranean (Med) with partners BP plc and Total SA, said the discovery at Bashrush…

July 2, 2020
U.S. Energy Demand Climbing, but New Covid Lockdowns Looming

U.S. Energy Demand Climbing, but New Covid Lockdowns Looming

The Energy Information Administration (EIA) on Wednesday said U.S. oil refinery input for the week ending June 26 averaged 14 million b/d, about 193,000 b/d higher than in the previous week, but the recent spike in Covid-19 cases nationwide may drive consumers back indoors, according to experts. U.S. refineries operated at 75.5% of their capacity…

July 1, 2020
Eagle Ford Pure-Play Mesquite Emerges from Sanchez Restructuring

Eagle Ford Pure-Play Mesquite Emerges from Sanchez Restructuring

Houston-based Sanchez Energy Corp. late Tuesday said it had completed a financial restructuring and emerged from bankruptcy as Mesquite Energy Inc., a private explorer still intent on keeping its focus in the Eagle Ford Shale. The reorganization under Chapter 11, begun in 2019, eliminated nearly all of the $2.3 billion debt. “We are excited to…

July 1, 2020
Virtual Natural Gas Pipeliner to Provide Supply, Services to U.S. Market

Virtual Natural Gas Pipeliner to Provide Supply, Services to U.S. Market

Two Texas-based operators have joined forces to create a virtual pipeline business designed to move compressed and liquefied natural gas (LNG) to customers nationwide. Sapphire Gas Solutions was created by Dallas-based BP Energy Partners (BPEP) affiliate Blue Roads Solutions and Thigpen Solutions, which is based near Houston in Conroe. Sapphire is to provide gas and…

July 1, 2020
Proppant Supplier Covia Seeking Chapter 11 Protection, Citing Pandemic

Proppant Supplier Covia Seeking Chapter 11 Protection, Citing Pandemic

Covia Corp., which provides proppants for oil and gas well operations across North America, on Tuesday said it had filed for bankruptcy, making it the third U.S. energy company in three days to seek Chapter 11 protection.  The petition to reorganize under Chapter 11 was filed in the U.S. Bankruptcy Court for the Southern District…

June 30, 2020
ConocoPhillips to Restore Some Alaska, Lower 48 Oil Output in July

ConocoPhillips to Restore Some Alaska, Lower 48 Oil Output in July

Houston-based ConocoPhillips said Tuesday it expects to begin restoring some curtailed Alaska and Lower 48 oil output in July after shuttering an average 225,000 boe/d net across its global operations in 2Q2020. In a second quarter update ahead of issuing results late in July, the super independent said oil output despite the shut-ins was in…

June 30, 2020
Shell Eyeing $15-22B in 2Q Impairments from Covid-19’s Crushing Impact to Demand, Prices

Shell Eyeing $15-22B in 2Q Impairments from Covid-19’s Crushing Impact to Demand, Prices

Royal Dutch Shell plc expects to impair up to $22 billion in the value of its global natural gas and oil assets for the second quarter, citing the challenges from Covid-19 that have slammed commodity prices and energy demand. The supermajor said it was adapting “to ensure the business remains resilient.” A revised forecast for…

June 30, 2020
Gulf of Mexico Gaining Traction as LLOG Sanctions Taggart Discovery in Mississippi Canyon

Gulf of Mexico Gaining Traction as LLOG Sanctions Taggart Discovery in Mississippi Canyon

Covington, LA-based LLOG Exploration Offshore LLC has pulled the trigger on the Taggart discovery in the Gulf of Mexico, which would be developed via a tieback to the Devil’s Tower deepwater spar. The Mississippi Canyon (MC) Block 816 discovery in 5,650 feet of water would be tied back to the spar in MC Block 773,…

June 29, 2020
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