E&P

The failure to reach an agreement to freeze global oil production by the Middle Eastern-led oil cartel may play to the market fundamentals, but it also could lead to more U.S. bankruptcies as oil prices continue to decline, industry experts said Monday.

The Pittsburgh-based Center for Sustainable Shale Development (CSSD) said Monday that it has issued its fourth certification to EQT Corp., confirming that the company’s Appalachian Basin operations are in compliance with its 15performance standards for oil and natural gas development in the region.

Seventy Seven Energy Inc., the onshore oilfield services business spun off from Chesapeake Energy Corp., said Tuesday it plans to restructure under a prepackaged voluntary bankruptcy protection plan to be filed in May after reaching agreement with lenders.

The failure to reach an agreement to freeze global oil production by the Middle Eastern-led oil cartel may play to the market fundamentals, but it also could lead to more U.S. bankruptcies as oil prices continue to decline, industry experts said Monday.

To avoid the unavoidable price volatility that accompanies oil and natural gas development, states that have become dependent on energy revenues should consider creating permanent trust funds that overcome boom-and-bust price cycles, the Brookings Institution said Tuesday.

Seventy Seven Energy Inc., the onshore oilfield services business spun off from Chesapeake Energy Corp., said Tuesday it plans to restructure under a prepackaged voluntary bankruptcy protection plan to be filed in May after reaching agreement with lenders.

Oklahoma City is home to an upstream startup, overseen by former geology exploration executives of Devon Energy Corp.

To avoid the unavoidable price volatility that accompanies oil and natural gas development, states that have become dependent on energy revenues should consider creating permanent trust funds that overcome boom-and-bust price cycles, the Brookings Institution said Tuesday.

Oklahoma City is home to an upstream startup, overseen by former geology exploration executives of Devon Energy Corp.