Reuters NEW YORK – U.S. companies are preparing to open their books on a quarter that is set to show the biggest earnings fall since the financial crisis, leaving investors looking for light at the end of the tunnel. The season unofficially begins on Tuesday with results from some of the biggest U.S. banks. Analysts expect S&P 500 companies overall
Oil and Gas 360 Frisco, TX, May 13, 2020 (GLOBE NEWSWIRE) — Comstock Resources, Inc. (NYSE: CRK) (“Comstock” or the “Company”) announced today that it has commenced an underwritten public offering of 40 million shares of its common stock (the “Common Stock Offering”). Comstock also intends to grant the underwriters a 30-day option to purchase up to 6 million additional
CNBC Oil prices fell on Friday as news of President Donald Trump’s plans to ease the U.S. coronavirus lockdown to get the American economy moving again were quickly overshadowed by China’s worst quarterly economic contraction on record. U.S. crude for June fell 1%, or 26 cents, to trade at $25.28 per barrel. Brent rose 39 cents to trade at $28.21 per barrel. The
Reuters LONDON – Oil prices slumped to their lowest in more than a year on Friday and were set for their steepest weekly fall in four years as the global spread of the coronavirus stokes demand fears. Investors are increasingly worried about an economic slowdown weighing on oil demand as the virus spreads beyond its epicentre in China to more
Reuters NEW YORK – Investors are worrying that rising energy costs due to an escalating conflict between the United States and Iran that has caused a spike in oil prices will hurt U.S. corporate earnings. Oil prices briefly jumped to four-month highs overnight after Iran launched missiles at U.S.-led forces in Iraq, but retreated after signs that further military action
Source: Reuters DUBAI/RIYADH (Reuters) – Oil giant Saudi Aramco’s much-vaunted stock market listing was delayed after deal advisers said they need more time to lock in cornerstone investors, three sources with direct knowledge of the matter told Reuters. After a false start last year, preparations gathered momentum this summer with approaches to sovereign wealth funds, rich Saudis and large foreign
By Tyler Losier, Energy Reporter, Oil & Gas 360 H2O Midstream purchases produced water infrastructure from Sabalo Energy and executes a 15-year acreage dedication H2O Midstream LLC, a water infrastructure company based in Houston, has acquired produced water infrastructure from Sabalo Energy LLC, concurrent with the execution of a 15-year acreage dedication to provide produced water gathering, disposal and recycling
By Tyler Losier, Energy Reporter, Oil & Gas 360 Forum Energy Technologies to sell its aggregate 40% interest in Ashtead Technology for $39 million Forum Energy Technologies Inc. (stock ticker: FET), a global oilfield products company, has entered into a definitive agreement through its subsidiaries to sell an aggregate 40% interest in Ashtead Technology, a subsea rentals company, to majority
From Reuters Oil prices were little changed on Monday as expectations that major producers would continue to reduce global supplies ran into worries about sluggish growth in crude demand due to the U.S.-China trade war. International benchmark Brent crude settled at $58.57 a barrel, up 4 cents. West Texas Intermediate (WTI) futures settled at $54.93, up 43 cents. Investors were
From Reuters Weaker second-quarter refining and chemicals profits offset surging U.S. shale production at U.S. oil majors Exxon Mobil Corp (XOM.N) and Chevron Corp (CVX.N), the two reported on Friday. Exxon’s topped analysts’ reduced estimates for the quarter but net fell 21% from a year earlier, its third quarter in a row of weaker year-over-year profit, despite a near doubling
From The Houston Chronicle The top executive of British-owned Centrica, owner of Direct Energy, will be stepping down after what the company describes as an exceptionally challenging six months which included outages at its nuclear sites, pension deficits and low natural gas prices. The company announced on Tuesday that it is cutting the dividend for investors. Iain Conn, group chief
From Reuters Seven years ago, Diamondback Energy Inc went public with a modest parcel of drillable land in the Permian Basin of West Texas. Like dozens of other Permian startups, the firm then pursued a classic wildcatter’s strategy – borrowing to buy up acreage, acquire competitors and quickly boost output in the booming shale field. Today, Diamondback (FANG.O) is the
