Cabot remains focused on cutting costs Houston-based Cabot Oil & Gas (ticker: COG) reported its second quarter results today, showing that the company continues to focus on cutting costs. Cabot continued to reduce its capital spending in the Marcellus. Cabot reported total per unit costs (including financing) decreased to $2.52 per thousand cubic feet equivalent (Mcfe) in the second quarter,
Story by CNBC Mexico made headlines and earned praise from environmentalists this year when it pledged to cap and cut carbon emissions. Less discussed has been how Mexico may use U.S. natural gas to help it get there. Mexico has been slowly developing noncarbon emitting energy sources such as solar and wind power, but it’s also been aggressively investing in
Royal Dutch Shell plc (“Shell”) (NYSE:RDS.A) (NYSE:RDS.B) today announced that its recommended combination with BG Group plc (“BG”) has received unconditional merger clearance from the Brazilian competition authority (CADE), satisfying the first of the pre-conditions to the combination. Other pre-conditions include merger clearances in Australia, China and Europe. Commenting on CADE clearance Shell CEO, Ben van Beurden, said: “The addition
Story by Agence France-Presse Japanese automaker Mitsubishi said Friday it would stop making vehicles in the United States and is looking to sell its underused Illinois plant. “Following a review of Mitsubishi Motor Corporation’s global supply chain, we have been informed it is necessary to end production and seek a strategic buyer for the Normal plant,” Mitsubishi Motors North America
Story by the Chicago Tribune American Airlines said Friday that its second-quarter profit nearly doubled to $1.7 billion on sharply cheaper jet fuel. The world’s biggest airline said it was its most profitable quarter ever, after excluding one-time costs and gains. American’s fuel bill dropped by more than $1 billion — a 37 percent savings — compared with the same
Overall rig counts up 2% on additions in the oil patch Overall rig counts reached a nearly two-month high this week, with Baker Hughes (ticker: BHI) reporting 876 rigs active in the United States for the week ended July 24, 2015, up 19 rigs from last week. The news came after three weeks of small increases from the week ended
EPD Release Enterprise Products Partners L.P. (EPD) today announced it has closed on the sale of its offshore Gulf of Mexico pipelines and services business to Genesis Energy L.P. (“Genesis”) for approximately $1.5 billion in cash. “We are pleased to complete this transaction with Genesis,” said Michael A. Creel, chief executive officer of Enterprise’s general partner. “The proceeds from this
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