Transocean Restructuring Can Proceed Over Hedge Fund's Opposition

A federal judge authorized Transocean, the world's largest offshore oil-rig contractor, to proceed with a disputed restructuring of up to $2 billion of its $9 billion debt load amid a deeply painful period for deep-water drilling. 


 
Oil Prices End Lower on Demand Fears

U.S. benchmark oil prices ended at their lowest in nearly four weeks amid renewed fears that global oil demand will remain well below pre-coronavirus levels for many months as schools and other institutions implement virtual, home-based programs. 


 
A Glut of Refineries Is the Oil Industry's Next Problem

New capacity in the developing world is making European plants that turn oil into gasoline and other products obsolete 


 
Natural Gas Prices End Slightly Higher

Natural gas prices ended a choppy trading session with a tiny increase as investors were pushed and pulled by a bullish EIA storage report but bearish broader-market sentiment. 


 
EDP Renovaveis Earnings Fall

Portugal's EDP Renovaveis reported an 18% drop in earnings to EUR793 million following a lower revenue and electricity production. 


 
Energy & Utilities Roundup: Market Talk

The latest Market Talks covering Energy and Utilities 


 
Colorado Natural-Gas Driller Ursa Piceance Files for Bankruptcy

Ursa Piceance has filed for bankruptcy protection, its natural-gas drilling operation battered by commodity-price volatility, Covid-19 pandemic damage and a tighter regulatory climate in Colorado. 


 
Denbury Resources Cleared to Exit Bankruptcy

The Texas-based oil-and-gas producer got the green light to exit bankruptcy with a plan that hands control to creditors and cuts $2.1 billion in bond debt. 


 
U.S. Oil Inventories Fall for Sixth Straight Week

U.S. inventories of crude oil fell for a sixth straight week, while gasoline and other fuel supplies also declined, according to data released Wednesday by the Energy Information Administration. 


 
Alabama-Based FM Coal Files for Bankruptcy

The coal miner filed for chapter 11 after struggling with sliding revenue, failing equipment and high debt service costs in recent years.