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.
Ocean Rig said March 28 it had entered into an agreement with creditors representing more than 72% of the company's debt for a financial restructuring. The company had $3.25 billion in debt as of Dec. 31.
Even with land prices shooting straight up, the Permian Basin still can make economic sense, says an RS Energy Group analyst.
The potential ramp up in production could be good for companies, but not so great for the macro environment.
Saudi Aramco’s chairman expressed optimism for oil prices moving forward, but cautions against irrational exuberance.
The units will trade on the New York Stock Exchange under the ticker symbol "HESM."
Since former EOG Resources’ CEO Mark Papa’s debut blank-check company in February 2016, special-purpose acquisition companies have raised more than $1.5 billion.
Norwegian bank DNB has sold its share of loans funding the Dakota Access pipeline, it said on March 26.
The agreement has elevated the price of crude to more than $50/bbl, but it helped U.S. shale oil producers boost their output, hampering efforts to reduce global stockpiles, Reuters reported.
James Hackett, former chairman and CEO of Anadarko Petroleum Corp., will serve as CEO of the new Silver Run Acquisition Corp. II, an energy-focused SPAC.