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Fracking Firm Oasis Pete Shares Slump After Chapter 11 Filing

September 30, 2020

Oasis Petroleum (OAS) – Get Report shares slumped after the oil-and-gas fracking-services provider said it filed under Chapter 11 of U.S. bankruptcy law.

The stock recently traded at 21.67 cents, down 49%. It has lost 93% of its value this year.

“Due to historically low global energy demand and commodity prices, we determined that it is best for Oasis Petroleum to take decisive action to strengthen our liquidity and overcome the headwinds now challenging both our company and industry,” the Houston company’s chief executive, Thomas Nusz, said in a statement.

The company said it filed the Chapter 11 petition in U.S. Bankruptcy Court for the Southern District of Texas.

Oasis has entered a restructuring-support agreement with substantially all its lenders on its revolving-credit facility and holders of 52% of the face amount of its bonds regarding a comprehensive prepackaged restructuring, Oasis said in a statement.

Its lenders have

Engineering giant Fluor records $1.7 billion loss for 2019 in delayed financial filing

September 27, 2020

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| business

Irving-based engineering firm Fluor Corp. lost $1.7 billion in 2019, according to financial filings disclosed Friday and delayed for months by internal and regulatory reviews.

a train on the tracks in a city: A joint venture between Fluor and Balfour Beatty rebuilt the northbound Interstate 35E bridge leading to downtown Dallas, a part of the massive Dallas Horseshoe Project.

© Tom Fox/Staff Photographer/The Dallas Morning News/TNS
A joint venture between Fluor and Balfour Beatty rebuilt the northbound Interstate 35E bridge leading to downtown Dallas, a part of the massive Dallas Horseshoe Project.

The full-year loss and write-downs reported by Fluor were “far worse” than expected, according to Bloomberg Intelligence analysts. The company reported a $9 million profit in 2018.

Load Error

Fluor closed out 2019 with $14.3 billion in revenue, down from $15.2 billion the year before.

The company halted its financial filings earlier this year when the U.S. Securities and Exchange Commission sought records about charges it recorded in 2019 on a fixed-price Army ammunition plant project in Radford, Va. In May, the Justice Department subpoenaed the company for additional information.

After the

Fire Claims – Tips for Filing an Insurance Claim

May 4, 2020

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| insurance

After suffering a fire the homeowner will need to do file a claim for property damages so they can clean up and start to rebuild. Fires are devastating and sometimes homeowners will make a costly mistake during and after the settlement of their fire claims. Most will let a fire claim adjustor come survey their property and make the claim but there can be things that are missed during the initial claim. One thing to note is that after the insurance company sends you a check and closes the fire claims the homeowner has three years to add to the existing closed claim. This can be done if it is found that the damages were not assessed correctly. To help make sure that you get the right settlement for your fire claims, here are some tips to help you.

Document the damage to your home and other buildings

Take the … Read More

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