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Articles by Joe Carroll
Baytex Energy to Sell Eagle Ford Assets for $2.3 Billion (3)
Canada’s reached a deal to sell its Eagle Ford shale-oil wells and drilling rights in South Texas to an undisclosed buyer for about $2.3 billion. Baytex is selling its entire US business so it can focus on Canadian assets, a stark reversal of its expansion in the Eagle Ford region just two years ago via the takeover of Ranger Oil Corp. The transaction also comes as Baytex faces almost $2 billion in over the next two years.
Baytex Energy to Sell Eagle Ford Assets for $2.3 Billion (3)
Canada’s Baytex Energy Corp. reached a deal to sell its Eagle Ford shale-oil wells and drilling rights in South Texas to an undisclosed buyer for about $2.3 billion. Baytex is selling its entire US business so it can focus on Canadian assets, a stark reversal of its expansion in the Eagle Ford region just two years ago via the takeover of Ranger Oil Corp. The transaction also comes as Baytex faces almost $2 billion in debt maturities over the next two years.
Chevron to Cut More than 600 Jobs in $53 Billion Hess Deal (2)
is cutting almost 650 jobs in the Houston area and North Dakota after completing the $53 billion takeover of The reductions include 575 positions in Texas and 70 in North Dakota, and will take effect Sept. 26, according to a Chevron spokesperson on Wednesday. Chevron formally closed on its acquisition of Houston-based Hess at the end of last week. “As part of the integration, we will consolidate or eliminate some positions,” Chevron spokesperson Allison Cook wrote in an email.
Chevron Cut 575 Positions as $53 Billion Hess Takeover Closed
cut 575 jobs in the Houston area on the same day it completed the $53 billion takeover of The reductions were handed down on July 18 and take effect Sept. 26, according to a filing with the Texas Workforce Commission on Wednesday. Chevron formally closed on its acquisition of Houston-based Hess at the end of last week. --With assistance from and . To contact the reporter on this story: in Houston at jcarroll8@bloomberg.net To contact the editor responsible for this ...
Chevron Asks FTC to Set Aside Ban on John Hess Joining Board (1)
Chevron and Hess jointly requested the agency “set aside its consent order, which prohibits Chevron from nominating, designating, or appointing Hess CEO John B. Hess” to a directorship once the takeover closes, according to a Friday.
Chevron Asks FTC to Set Aside Ban on John Hess Joining Board (1)
X Your Choices Regarding Cookies and Identifiers We and our 150 third party partners use cookies and similar technologies ("Cookies") and hashed identifiers (e.g., a hashed version of your name, email address or phone number) to help us identify you on our site and third-party sites and to process certain information, such as your IP address and digital identifiers, to analyze site usage and provide you with relevant advertisements and content.
Chevron Asks FTC to Set Aside Ban on John Hess Joining Board (1)
Chevron and Hess jointly requested the agency “set aside its consent order, which prohibits Chevron from nominating, designating, or appointing Hess CEO John B. Hess” to a directorship once the takeover closes, according to a Friday.
Power-Storage Startup Wins Support of Andreessen, Lightspeed (1)
Household-battery startup Base Power Inc. raised $200 million in Series B funding as the Texas-based firm gears up to expand on a national scale. Participants in the latest fundraising round include Lee Fixel’s Addition LP, Andreessen Horowitz and Lightspeed Venture Partners, Base Co-Founder Zach Dell said in an interview. Also participating in the Series B round are some of Base Power’s initial investors — Josh Kushner’s Thrive Capital, Valor Equity Partners, Altimeter, Terrain, Trust and others.
Power-Storage Startup Wins Support of Andreessen, Lightspeed (1)
X Your Choices Regarding Cookies and Identifiers We and our 150 third party partners use cookies and similar technologies ("Cookies") and hashed identifiers (e.g., a hashed version of your name, email address or phone number) to help us identify you on our site and third-party sites and to process certain information, such as your IP address and digital identifiers, to analyze site usage and provide you with relevant advertisements and content.
Power-Storage Startup Wins Support From Andreessen, Lightspeed
Household-battery startup Base Power Inc. raised $200 million in Series B funding as the Texas-based firm gears up to expand on a national scale. Participants in the latest fundraising round include Lee Fixel’s Addition LP, Andreessen Horowitz and Lightspeed Venture Partners, Base Co-Founder Zach Dell said in an interview. Also participating in the Series B round are some of Base Power’s initial investors — Josh Kushner’s Thrive Capital, Valor Equity Partners, Altimeter, Terrain, Trust and others.
Exxon Plans to Cut Almost 400 Pioneer Jobs in Texas by 2026
(Bloomberg) -- Exxon Mobil Corp. plans to lay off 397 employees from Pioneer Natural Resources Co. after purchasing the Permian Basin operator for $63 billion earlier this year. The cuts representing almost 20% of Pioneer’s pre-merger staff will come in seven stages between now and May 2026, Exxon said in a notice to the Texas Workforce Commission released on Wednesday.
Texas Shale Gas Price Drops Toward Zero Over Congested Pipelines
Natural gas prices in the Permian Basin of West Texas are plunging toward zero as booming production overwhelms pipeline networks, creating a regional glut of this fuel. Gas in an area of the vast Permian known as Waha traded for as little as 20 cents to 70 cents per million British thermal units on Monday, traders said. That compares with the US benchmark futures contract that’s trading around $5.20 and European prices close to $28.
Texas natural gas drops toward zero as output swamps pipelines
Natural gas prices in the Permian Basin of West Texas are plunging toward zero as booming production overwhelms pipeline networks, creating a regional glut of the fuel. Gas in an area of the vast Permian known as Waha traded for as little as 20 cents to 70 cents per million British thermal units on Monday, traders said. That compares with the US benchmark futures contract that’s trading around $5.20 and European prices close to $28.
The Alamo — once dubbed the worst tourist trap in Texas — is about to shed much of the schlock that greets visitors to the holiest of Lone Star shrines. The site of the famously doomed 1836 stand of a tiny band of Texans and Tejanos against an overwhelming force of Mexican soldiers has long been crowded by garish storefronts and amusement outlets. So much so that Business Insider declared the San Antonio site the state’s worst tourist trap in 2017, triggering outrage from locals.
Blankfein Tweets, Disney CEO Quits Trump Council In Climate Fury
The business community lashed back at Donald Trump’s decision to ditch the Paris climate accord, as two high-profile executives quit the president’s advisory council and Goldman Sachs Group Inc.’s Lloyd Blankfein took to Twitter for the first time ever to express disapproval. “Today’s decision is a setback for the environment and for the U.S.’s leadership position in the world,” Blankfein wrote.
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