Author: Joshua Mann

“The way to be successful is to shrink our costs, work our way though this … and come out the other side of it as a lean structure.”

The company was originally planning to exit the court about halfway through November. Now it’s aiming to leave by the end of the year.

BHP’s exploration budget is now $450 million, a downward revision of $250 million. But the company — which has a significant presence in Houston’s Galleria area — still wants to grow.

Pacific Drilling took care of its debt problem in a bankruptcy that ended in 2018, but 2020 has created a far different environment in which the company now has to return to the court.

There’s a favorable factor that could keep Solaris growing even if the broader upstream sector stagnates, CEO Bill Zartler said.

Pacific Drilling is bringing more than $1 billion in debt to the court, all of which it plans to eliminate by turning over ownership of the company to its creditors.

The company was warned in April that its stock price had fallen to low to continue its listing on the New York Stock Exchange.

The incentives would save EDF nearly $10 million in property taxes over the 10-year life of the agreement.

The complex can recycle 300,000 barrels of produced water per day for use in the upstream oil and gas business.

The company has pushed back its deadline to file.