Extraction Oil & Gas has voluntarily filed for petitions for relief under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware. Wells Fargo has underwritten a $125 million DIP financing facility, subject to Court approval.  read more

JUN 15, 2020 - 6:45 am

According to a report from BCC Research, the global mining and oil and gas machinery manufacturing market will grow at a CAGR of 5.2% through 2020 and reach $324.1 billion. read more

DEC 15, 2017 - 7:26 am

According the latest rig count report from Banker Hughes, in the U.S. the rig count was up 95% from 464 last year to 954 on August 4, 2017. read more

AUG 7, 2017 - 7:21 am

Baker Hughes’ latest rotary rig count report showed North American rig counts at June 2, 2017 of 1,015, up 79% from 566 at the end of the same week in 2016. The Permian Basis rig count of 364 was up 156% year/year. read more

JUN 5, 2017 - 6:24 am

According to the Houston Chronicle, oil sector bankruptcies have fallen to a two-year low as crude oil prices rise. read more

DEC 29, 2016 - 6:44 am

Baker Hughes announced the average U.S. rig count for April 2016 was 437, down 55.2% from the 976 counted in April 2015. The worldwide rig count for April of 1,424 was down 37.2% from the 2,268 counted a year earlier. read more

MAY 16, 2016 - 6:55 am

According to Fitch Ratings, volatile commodity prices are weighing heavily on some U.S. companies even as others enjoy stable industry fundamentals. read more

FEB 1, 2016 - 7:11 am

Bloomberg reported that winners and losers are emerging from the energy bust and provided commentary on a number of situations that have turned sour including: American Eagle Energy, Dune Energy, Endeavor International, Samson Resources, ERG Resources, Magnum Hunter Resources, Swift Energy and New Gulf Resources. read more

JAN 21, 2016 - 6:40 am

The Houston Chronicle reported that at least one in five domestic oil companies are at risk to go through significant corporate restructuring, downsizing or bankruptcy in 2016. read more

JAN 4, 2016 - 7:47 am

Reuters reported regulators are scrutinizing the impact of falling energy prices on bank loans in a move that could make it more difficult for lenders to extend extra credit to troubled oil and gas companies. read more

SEP 14, 2015 - 6:39 am

Baker Hughes announced the average U.S. rig count for July 2015 was 866, down 54% from the 1,876 counted in July 2014. read more

AUG 10, 2015 - 7:48 am

Technological breakthroughs have enabled domestic oil production to replace imports at a historic pace. Dana J. Pasternak, managing director and founder of Fairfield Capital, says the good news is that a lot of the equipment used in fracking is manufactured for extreme duty, has a reasonably long useful life and maintains relatively strong residual values, helping lessees mitigate their collateral risk.... read more

March 2015

Fitch Ratings reported that North American exploration and production companies continued to announce reductions to 2015 capital spending in Q4 earnings calls as a function of lower oil prices. read more

FEB 17, 2015 - 7:28 am

Bloomberg reported now that oil prices have fallen below $45, any euphoria over cheaper energy will be tempered by losses that are starting to show up in investment funds, retirement accounts and bank balance sheets. read more

JAN 30, 2015 - 7:20 am