Halliburton is closing its doors in Indiana County
After 40 years in Indiana County, Halliburton has decided it is time to close down its service there. Halliburton decided to close the Indiana County yard primarily so that they could be in closer proximity to the bulk of its customers. To read the full story, click here.
Bye-bye renewable energy in Cali, hello power plants in Ohio
Now that it is officially a player in Ohio’s power plant community, Dynegy Inc. wants to say good-bye to its renewable energy plants in California and completely move into the Midwest.
After spending $2.8 billion on 11 Midwest power plants and adding significant growth to its portfolio, Dynegy’s CEO Bob Flexon says the company is going to take a serious look at the region. During an interview with Bloomberg, Flexon explained that due to the glut in solar energy and California market prices taking hits, Dynegy will eventually leave California. To read the full story, click here.
Deep Well Services takes on new rig
Deep Well Services has shared it will add a new rig to its fleet that will allow the company to take on more projects related to high-pressure wells. To read the full story, click here.
Rex Energy: Taking big steps with Utica dry gas well
While Rex Energy has been busy with test wells, sales and planning, the company has released an official update for all to read and get the full details of its current projects in the Appalachian Basin. To read the full story, click here.
Magnum Hunter comes up short
A few weeks ago, it was announced that Magnum Hunter Resources Corp. needed to raise $65 million in order to pay back its lenders. Well, lucky for Magnum Hunter, that payment is no longer needed thanks to a deal made with its lead lender.
Magnum Hunter has decided to sell its Eureka Hunter pipeline business and let go of some of its acreage in an offering to raise capital. The company’s deadline to raise the $65 million was last Friday and was one of several chances Magnum Hunter has been given. Since its most recent deadline, the company has made an agreement with the Bank of Montreal for “certain amendments and waivers.” According to Columbus Business First, “This includes the bank assuming interest of the other lenders that do not agree with the new deal.” To read the full story, click here.