Wednesday, November 27, 2024
Parsley Energy following trend - cuts budget, hikes dividend- oil and gas 360

Parsley Energy following trend – cuts budget, hikes dividend

Houston Chronicle Austin’s Parsley Energy is following a growing trend among oil and gas producers – cutting their capital budgets while hiking payouts to shareholders. The moves are intended to instill conservative fiscal restraint while also wooing Wall Street investors with rising dividend payments. Parsley is in the process of buying Denver-based Jagged Peak Energy for $1.65 billion in order

Oil falls below $61, heads for weekly loss on China virus concerns- oil and gas 360

Oil falls below $61, heads for weekly loss on China virus concerns

Reuters LONDON – Oil extended losses on Friday to trade below $61 a barrel, heading for a weekly decline as concern that the coronavirus in China may spread, curbing travel and oil demand, outweighed the impact of cuts to supply.   The virus has prompted the suspension of public transport in 10 Chinese cities. Health authorities fear the infection rate