Daily Archives: May 2, 2016

Ultra Petroleum seeks bankruptcy protection

Unable to reach a debt-restructuring deal for its $3.9 billion in unsecured debt, Ultra Petroleum Corp. filed for Chapter 11 bankruptcy protection on Apr. 29 in Houston. Read Full Article Here For more great articles: Oil & Gas Journal – General Interest

MARKET WATCH: NYMEX crude oil price back under $46/bbl

Light, sweet crude prices for June delivery varied widely on the New York market during Apr. 29 trading, closing at $45.92/bbl after swinging from a daily high of $46.78 and a low of $45.24. Read Full Article Here For more great articles: Oil & Gas Journal – General Interest

Drewry: LNG shipping rates to stay low until 2018

By LNG World News Earnings for LNG shipowners are expected to improve from 2018 onwards as the majority of U.S. facilities come online, according to the shipping consultancy Drewry. The consultancy added in its latest report that the first quarter of 2016 was similar to the previous quarter with spot rates remaining low at US$30,000…

OTC 2016: Crane system aims to cut P&A rig costs

At the Offshore Technology Conference, GustoMSC is introducing SmartCrane, a lifting system designed for retrofitting to existing cantilever jackups to increase efficiency, or for installation on newbuild rigs. Read Full Article Here For more great articles: Offshore RSS Feed