California-based Chevron Corp. (NYSE: CVX), which has a major presence in Houston, has reduced its capital and exploration budget through 2025. The energy giant set its organic capital and exploratory spending program at $14 billion for 2021, according to a Dec. 3 press release. That’s down 30% from the $20 billion budget for 2020 that […]
The biggest Western Slope natural gas producer is buying Ursa Resources’ business and wells two months after the company filed for Chapter 11 bankruptcy protection. Houston-based Terra Energy Partners LLC agreed to pay $60 million to acquire Denver-based Ursa Piceance Holdings LLC and its subsidiaries after a bankruptcy court sale. The sale of Ursa Piceance’s […]
Houston-based McDermott International Ltd. is making moves to secure $560 million in new liquidity to fund growth moving forward. The company has reached an agreement to adjust its debt with a new letter of credit that will free up $390 million in cash that was previously unusable because McDermott had to hold it as collateral, […]