French oil giant Total leaves U S energy group, months after exiting CAPP - Medicine Hat NewsMedicine Hat News medicinehatnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from medicinehatnews.com Daily Mail and Mail on Sunday newspapers.
CALGARY — French oil and gas company Total says it will ditch its membership in the U.S.-based American Petroleum Institute because it disagrees on climate-related policies.The move announced Friday . . .
iPolitics By iPolitics. Published on Jan 14, 2021 1:30pm
The Lead
According to Reuters, Chesapeake Energy’s bankruptcy plan was approved by U.S. bankruptcy judge David Jones. The U.S. gas company “will emerge from bankruptcy with about $3 billion in new financing, a $7-billion reduction in debt, and $1.7 billion cut from gas-processing and pipeline costs.”
Investors who committed to backing the restructuring of the company’s finances will benefit greatly. In fact, a rebound in energy prices bumped Chesapeake’s value to about $5.13 billion.
Bloomberg reports that Chesapeake’s ownership will be transferred to Franklin Resources Inc., a global investment firm. The approval follows objections from other creditors who argued that senior lenders were getting Chesapeake at a discount through two refinancing deals.
New report shows optimism this year for oil and gas
Last Updated Jan 13, 2021 at 1:00 pm MDT
A pumpjack works at a well head on an oil and gas installation near Cremona, Alta., Saturday, Oct. 29, 2016. Federal financing relief for large Canadian companies announced Monday was welcomed by the oil and gas sector and the Alberta government despite conditions that linked the aid to climate change goals. THE CANADIAN PRESS/Jeff McIntosh
Summary
Prices for WCS are rebounding after trading in the negative almost a year ago
CALGARY (660 NEWS) – It’s something we haven’t heard of for quite some time: optimism about the oil and gas industry.