Marathon Oil Corp. reversed the losses it incurred a year earlier to post a strong profit in the final quarter of 2009, but with troubles in its refining and marketing (R&M) sector, the producer plans to divert more spending in 2010 to the upstream to concentrate on its unconventional gas and oil shale plays.
Troubles
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Marathon Raises Spending in E&P, Plans Focus on Unconventional Shales
Marathon Oil Corp. reversed the losses it incurred a year earlier to post a strong profit in the final quarter of 2009, but with troubles in its refining and marketing (R&M) sector, the producer plans to divert more spending in 2010 to the upstream to concentrate on its unconventional gas and oil shale plays.
Marathon Raises Spending in E&P, Plans Focus on Unconventional Shales
Marathon Oil Corp. reversed the losses it incurred a year earlier to post a strong profit in the final quarter of 2009, but with troubles in its refining and marketing (R&M) sector, the producer plans to divert more spending in 2010 to the upstream to concentrate on its unconventional gas and oil shale plays.
PG&E CEO Likes California Regulation
While Pacific Gas and Electric Co. (PG&E) has proven to be a “solid, defensive” investment play in the midst of national and global economic troubles, California’s deep budget crisis raises new challenges, according to PG&E’s CEO Peter Darbee.
PG&E CEO: California Has Regulatory Transparency
While Pacific Gas and Electric Co. (PG&E) has proven to be a “solid, defensive” investment play in the midst of national and global economic troubles, California’s deep budget crisis raises new challenges, according to PG&E’s CEO Peter Darbee.
Natural Gas Trading Weathers Financial Storm
While the troubles that have swept across global financial markets have added new pressures to the natural gas trading arena, some of the market reformation measures that followed the implosion of Enron and other large marketers in 2001 have enabled the natural gas market to withstand major disruptions and continue on a relatively smooth course.
Natural Gas Trading Weathers Financial Storm
While the troubles that have swept across global financial markets have added new pressures to the natural gas trading arena, some of the market reformation measures that followed the implosion of Enron Corp. and other large marketers in 2001 have enabled the natural gas market to withstand major disruptions and continue on a relatively smooth course.
CCRO Publishes ‘Emerging’ Guidelines on Balancing Assets and Risk
Guarding against a repeat of the financial troubles that have devastated the merchant energy sector, the Committee of Chief Risk Officers (CCRO) Wednesday published proposed guidelines for assessing capital adequacy in a stressed environment, both for a company’s long-term viability and its short term liquidity.
CCRO Publishes ‘Emerging’ Guidelines on Balancing Assets and Risk
Guarding against a repeat of the financial troubles that have devastated the merchant energy sector, the Committee of Chief Risk Officers (CCRO) Wednesday published proposed guidelines for assessing capital adequacy in a stressed environment, both for a company’s long-term viability and its short term liquidity.
Mirant Peddles Prepackaged Bankruptcy as Subsidiary Defaults
Adding to the company’s current troubles, Mirant announced Friday that its Mirant Americas Generation LLC (MAG) subsidiary received on June 6 a notice of default on credit facilities from Lehman Brothers Commercial Paper Inc. The company also said that it is actively “seeking acceptances” from its bank lenders of the proposed pre-packaged Chapter 11 reorganization plan, which was sent out earlier this month as a worst-case alternative to its debt restructuring proposal (see NGI, June 9).