Expect more asset impairments along with lower capital spending, reduced revenues and year-end reserves from many producers as the impact of depressed commodity prices is fully felt, Ernst & Young LLP (EY) said Wednesday. However, the firm’s most recent U.S. oil and gas reserves study looked at 2014 when times were brighter.
Tag / Impairments
SubscribeImpairments
Articles from Impairments
Linn Energy and Berry Petroleum in $4.3B Deal
The $4.3 billion tie-up of Linn Energy LLC and its LinnCo LLC unit with Berry Petroleum Co., announced Thursday, will create one of the largest exploration and production (E&P) companies in North America. The deal also is said to be the first-ever acquisition of a C-corporation by an upstream limited liability company (LLC) or master limited partnership (MLP).
February 22, 2013
McMoRan Reports Big Losses for 4Q, Year
Gulf of Mexico operator McMoRan Exploration Co. on Friday reported a big loss in the final three months of 2012 because of impairments and a sharp revenue decrease related in part to its gassy shallow-water operations.
January 22, 2013
McMoRan Loses Big in 2012
Gulf of Mexico operator McMoRan Exploration Co. on Friday reported a big loss in the final three months of 2012 as well as for the year on impairments and a sharp revenue decrease related in part to its gassy shallow-water operations.
January 21, 2013
Listen to the latest episode of our newest podcast NGI's Hub and Flow via:
