January 28, 2016

From Bloomberg Brazil’s state-controlled oil company is reducing management positions and streamlining operations to save 1.8 billion reais ($440 million) a year as it navigates the worst oil market in a generation and a sprawling corruption investigation. Petroleo Brasileiro SA is reducing management positions in non-operational areas by about 30 percent and combining the refining and natural gas divisions to

PENN WEST PETROLEUM LTD. (TSX – PWT; NYSE – PWE.BC) (“Penn West“, “we“, “us” or “our“) announces that the Board of Directors has approved a highly disciplined capital budget of $50 million for 2016.  This budget responds to the significant decline in commodity prices and proposes capital spending levels 90 per cent lower than the 2015 planned capital program.  Our

Rowan Companies plc (“Rowan” or “Company”) (RDC) announced today that effective January 25, 2016, the Company amended its revolving credit agreement to extend the maturity date by one year to January 23, 2021 from January 23, 2020. Availability under the facility is $1.5 billion through January 23, 2019, declining to $1.44 billion through January 23, 2020, and to approximately $1.29