The government aims to sell up to 5% of Aramco, listing the shares in Riyadh and at least one foreign exchange, to raise cash for investment in new industries, as the kingdom seeks to diversify its economy beyond oil exports in an era of cheap crude, Reuters reported.
The units will trade on the New York Stock Exchange under the ticker symbol "HESM."
EnergyNet said the new funding will support the company's efforts to further expand its leadership position in oil and gas A&D services and the online energy marketplace.
The Dallas-based E&P is focused on the acquisition and development assets in North America, with a primary focus on the Haynesville Shale of East Texas/North Louisiana and the Permian Basin.
The Oklahoma City-based company's emergence from bankruptcy 'marks a new and prosperous time in Chaparral's storied history,' said K. Earl Reynolds, Chaparral CEO.
Luxe Minerals LLC, which acquires mineral and royalty interests in the Midland and Delaware basins, Stack and Scoop, Eagle Ford, Bakken, Powder River and the Merge area, raised about $254 million of equity commitments from NGP through NGP Natural Resources XI LP and Luxe’s management team, according to a March 13 press release.
CCEA is the third successful startup for the Canyon Creek brand, led by Luke Essman, which has been active in Oklahoma since 2012.
Aaron Davis, TNM's president and CEO, recently led Fortuna's successful acquisition and development strategy, which includes the $118 million sale of Delaware Basin assets to PDC Energy.
Analysts at Capital Link forum consider midstream ‘safer’ sector for investors.
Saxet, based in Houston, focuses on the acquisition of mineral and royalty interests in the U.S. Saxet II Minerals is the second partnership with Post Oak.