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  • U.S. Oil Inventories Fall as Refineries Restart After Hurricane

    U.S. oil inventories fell last week and gasoline supplies climbed as refineries boosted activity following Hurricane Ida-caused outages, according to data released Wednesday by the Energy Information Administration. Benchmark U.S. oil prices that were higher before the mixed-to-bullish report came out held on to most of those gains afterward. The Nymex front-month crude contract for November delivery was recently up 1.5% at $71.56 a barrel.

  • Shell Offshore Facilities Damaged by Hurricane Ida, Will Remain Offline for 2021

    Royal Dutch Shell PLC (RDS/A) said Monday that Hurricane Ida caused significant structural damage to its West-Delta-143 offshore facilities in the Gulf of Mexico, which are set to remain offline for the rest of the year. The Anglo-Dutch energy company said that the WD-143 facilities--which it owns a 71.5% stake in, with the remainder owned by BP Exploration& Production Inc.--were damaged by the destructive Category 4 hurricane that raged from Aug. 26 to Sept. 4.. The "A" platform...

  • Hurricane Energy to Repurchase $78.0 Million of Bonds Due in 2022

    Hurricane Energy PLC (HRCXF) said Friday that it has agreed to buy back $78.0 million of its outstanding bonds maturing in 2022.. The oil-and-gas company, which had offered to purchase $230.0 million of convertible bonds, said the purchase price will be 78% of the principal amount. Chief Executive Antony Maris said Hurricane was able to buy back more than 33% of its outstanding bonds, reducing the par value of bonds held by third parties to $152 million and utilizing $62 million of net free...

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