An independent Texas oil and gas producer is striking back against a group of insurance companies, which collectively are seeking $250 million in collateral beyond what the oil company has already contracted for bonds backing its production activities.
Texas has seen surging interest from companies hoping to bury carbon dioxide in its oilfields, putting the state at the vanguard of a government-subsidized program to fight climate change.
Curious Minds Corner
What is the environmental disaster called when oil spills into the ocean?