U.S. shale oil company BPX Energy will be generating $1 billion in annual cash flow next year for its parent company, BP Group PLC, and it easily surpassed the $90 million synergies expected after its $10.3 billion acquisition of Texas oil field assets. BP (NYSE: BP) outlined the 2019 results of BPX Energy as part of London-based […]
One of the big three credit ratings agencies reported a downward trend in the ratings of oil and gas companies throughout 2019 — and it reached a fever pitch during the fourth quarter. Read more about that and other data points to know in Texas energy this week. Credit ratings Moody’s Corp., one of the […]
Oil and gas industry bankruptcies accelerated in 2019, and while they may not continue on an upward trajectory in 2020, they probably won’t be heading down either. Oil and gas companies brought $34.96 billion in debt to bankruptcy courts in 2019, more than double the $17.12 billion they brought in 2018, according to a report […]