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debt reduction

Shale drillers leveraging $42B in new bonds to retire costlier debt- oil and gas 360

Shale drillers leveraging $42B in new bonds to retire costlier debt

August 10, 2021

World Oil HOUSTON (Bloomberg) –Shale drillers — some of them just emerging from bankruptcy — racked up a staggering $42 billion in new debt in the first half of the year. It’s not what you think. America’s oil explorers aren’t repeating the costly mistakes that landed them in hot water with investors, left them almost entirely shut out of debt

Exxon’s focus on debt reduction disappoints shareholders looking for buybacks- oil and gas 360

Exxon’s focus on debt reduction disappoints shareholders looking for buybacks

August 2, 2021

World Oil HOUSTON (Bloomberg) –Exxon Mobil’s knockout second-quarter results did little to entice investors because much of the extra cash coming from soaring energy and petrochemical prices will be used to pay down debt rather than reward shareholders. The oil giant and rival Chevron Corp. swung to their biggest profits since pre-pandemic days, fueled in large part by stellar performances

Big Oil's $110 billion asset sale target could prove big ask- oil and gas 360

Big Oil’s $110 billion asset sale target could prove big ask

October 1, 2020

Reuters LONDON – Leading energy companies are hoping to sell dozens of oil and gas fields and refineries worth more than $110 billion to curb both their ballooning debt and their carbon footprints. But with the outlook for oil and gas prices uncertain because of the coronavirus pandemic and a shift to cleaner energy, finding buyers and striking deals might

Occidental Petroleum to reduce debt before boosting oil output: CEO Hollub- oil and gas 360

Occidental Petroleum to reduce debt before boosting oil output: CEO Hollub

August 11, 2020

Reuters Occidental Petroleum expects oil and gas output to dip in the second half of the year and will not boost production until it “significantly” reduces debt, Chief Executive Vicki Hollub said on Tuesday. The company has been struggling with debt taken on during its $38 billion acquisition of Anadarko Petroleum last year, an ill-timed bet on oil prices rising.

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