Claire Poole is a senior writer based in Houston covering energy and utilities. In her time at The Deal, Poole has written stories analyzing the how and why of energy deals and speculating on upcoming activity. She has also conducted insightful interviews with leading energy dealmakers and is often the first to reveal groundbreaking energy news. Before joining The Deal in 2000, Poole worked as a reporter and staff writer at Forbes, was editor-in-chief of El Financiero International and Mexico Business and was a contributing editor at Latin Trade. She also contributed articles to Money, Worth, Businessweek and Texas Monthly.
CEO Paal Kibsgaard believes the oil and gas industry has hit the bottom of the cycle and expects a slow and steady recovery to meet the supply deficit.
The Canadian oil and gas company credits aggressive cost-cutting for its positive results and said asset sales will allow it to boost capital spending by $200 million this year.
The news disappointed some investors who expected the company to raise its payout this quarter after a 75% cut last year.
Based on Halliburton's results, the company's Latin American and European/Central Asian numbers may come in better than expected, RBC says.
All eyes will be on Dynegy, PPL, NextEra and others in the sector with power prices down over last year in much of the U.S. and the Oncor sale pending.
The buyer expects the acquisition to boost its earnings by 20 cents to 30 cents per share next year.
The firm likes Sanchez, Carrizo, EP Energy, Pioneer and Synergy for an industry it expects will boost spending by 70% if commodity prices substantially rise.
The long-awaited sale, to CPPIB-backed Wolf Midstream, completes Devon's divestiture program at $3.2 billion, exceeding its targets.
The sale price shows how weak valuations are for international conventional oil discoveries but surpassed how much ConocoPhillips and analysts thought the properties were worth.
The Midland, Texas, oil and gas explorer didn't reveal the name of the seller, but a source said it was Natural Gas Partners-backed Luxe Energy.
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