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.
Analysts say both Energy Transfer and Williams will need to address distribution coverage going forward but that Williams looks cheap compared with its peers.
The move buys the distressed oil and gas company some time but also increases its financing costs, cuts its liquidity and limits its flexibility, making equity and asset sales likely.
While a possible slowdown in the U.K. economy isn't expected to have a big effect on oil prices, a stronger dollar already is for an industry plagued by uncertainty.
Williams presses ahead with shareholder vote despite Delaware judge ruling, with further litigation and a distribution cut probable.
Dividend cuts and debt loads weigh on companies' prospects no matter what happens in the upcoming Delaware trial.
Operators in the Permian and Marcellus/Utica have the best prospects while those in the Haynesville, Barnett and Eagle Ford are the most challenged, CreditSights says in a report.
CEO and president Dave Hager said the asset sales are highly accretive and conclude its non-core divestiture program ahead of schedule.
Delaware judge must evaluate the behavior and motivations of ETE, CEO Warren and its advisers.
The oil and gas explorer plans to use the $40 million in proceeds from the sale of all of its Illinois Basin properties to pay down its debt.
Wood Mackenzie expects to see additional cuts throughout the year as more projects are dropped and companies struggle to break even.
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