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Continental May Exceed 2021 Oil, Natural Gas Production Guidance in Midcontinent as Net Debt Falls

Continental May Exceed 2021 Oil, Natural Gas Production Guidance in Midcontinent as Net Debt Falls

Continental Resources Inc. said Tuesday it is on track to meet or exceed its 2021 full-year oil and natural gas production guidance. The Oklahoma City-based exploration and production (E&P) company also indicated that it has lowered its total debt by 10% since the end of 2020. In an update ahead of its 1Q2021 earnings call…

April 14, 2021
Tax Break or No, Mexico’s Pemex Likely to Require More Government Support, Fitch Says

Tax Break or No, Mexico’s Pemex Likely to Require More Government Support, Fitch Says

Mexican state oil company Petróleos Mexicanos (Pemex) would require more government support over the coming years if it wants to increase capital expenditures (capex) without taking on more debt, even if proposed tax breaks for the firm are passed by legislators, according to Fitch Ratings. Senator Armando Guadiana, a member of President Andrés Manuel López…

December 21, 2020
Oil, Natural Gas Industry Said ‘Exploiting’ Federal Relief through Historic Borrowing Spree

Oil, Natural Gas Industry Said ‘Exploiting’ Federal Relief through Historic Borrowing Spree

The oil and natural gas industry has embarked on a lavish borrowing spree this year, underpinned by a federal bailout of corporate debt markets in response to Covid-19, a new analysis has found. Oil and gas companies, already in dire financial straits before the pandemic, have issued $99.3 billion in debt in U.S. markets since…

October 2, 2020

Chesapeake Energy Reports Progress on Debt Reduction

Chesapeake Energy Corp. said Wednesday it is making progress on debt reduction measures nearly three months after warning that low commodity prices could push the company into bankruptcy.

January 29, 2020

Chesapeake Energy Reports Progress on Debt Reduction

Chesapeake Energy Corp. said Wednesday it is making progress on debt reduction measures nearly three months after warning that low commodity prices could push the company into bankruptcy.

January 29, 2020

Chesapeake Takes Action to Fight Debt Load

Chesapeake Energy Corp. on Wednesday announced a series of financial measures aimed at better managing the debt on its books and keeping the company afloat a month after it warned of a possible bankruptcy.

December 4, 2019
Lower 48 E&P Bankruptcies Not ‘Epidemic,’ Says Rystad

Lower 48 E&P Bankruptcies Not ‘Epidemic,’ Says Rystad

Financial adversity has continued to dog Lower 48 operators this year, with more voluntary restructurings, but the bankruptcies aren’t a harbinger of doom, according to Rystad Energy research.

September 27, 2019

Oil Price Rebound Allowing Williston, DJ-Focused Whiting to Reduce Debt

Whiting Petroleum Corp. said it is taking advantage of resurgent oil prices to pay down its debt and is on-target with capital expenditures (capex) for the year, despite spending more than it planned on nonoperated expenses during the first quarter.

May 6, 2019

U.S. Energy Bankruptcies Down Sharply, but Low Commodity Prices Signal Caution

The wave of bankruptcies that swept across the U.S. oil and gas industry in 2015 and 2016 has ebbed, but the recent slump in commodity prices points to caution signs ahead, according to Haynes and Boone LLP.

January 15, 2019

Range Resources Exploring Various Asset Sales to Reduce Debt

Range Resources Corp. is taking a hard look at its portfolio as it pursues multiple asset sales to help delever its balance sheet, with properties being marketed in northeast Pennsylvania and the Midcontinent. Management also has not ruled out unloading some core inventory that isn’t in the development plans anytime soon.

April 26, 2018
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