Finance - News
Sierra, a Houston-based private E&P founded in 1996, most recently began focusing on acquiring and developing unconventional assets in the Eagle Ford Shale in South Texas.
While indexes are down, the portfolio manager sees opportunity in midstream, other areas.
Oil prices fell on Aug. 14 as a slowdown in Chinese refining raised concerns about demand in the world's second-biggest consumer, while an increase in U.S. drilling capacity could deepen a global supply glut.
Indonesia is evaluating its existing crude oil benchmarks and has identified the Banyu Urip grade as a possible replacement for Arjuna Indonesia Crude Price (ICP), Ego Syahrial, director general of oil and gas at the energy ministry, said.
WPX Energy (NYSE: WPX) said Aug. 8 that it has commenced an underwritten public offering of $150 million of its 5.25% senior notes due 2024.
Post Oak Energy Capital, through investment partnerships it manages, said Aug.8 that it led a $100 million equity commitment to Nadel and Gussman NV LLC (NGNV). Affiliates of NGNV and the management team will co-invest alongside Post Oak.
Genesis Energy (NYSE: GEL) launched the commencement of a registered underwritten public offering of $550 million in aggregate principal amount of senior unsecured notes due 2025 on Aug. 7.
British wholesale gas prices rose on Aug. 7 as reduced Norwegian flows and expectations of lower temperatures created an undersupplied system, traders said.
Murphy Oil Corp. (NYSE: MUR) said on Aug. 3, subject to market conditions, it intends to offer $550 million of senior notes that will mature in 2025 pursuant to an effective shelf registration statement previously filed with the Securities and Exchange Commission (SEC).
Canadian Natural Resources Ltd. (NYSE: CNQ) posted a higher quarterly profit that topped street estimates, and said it would cut capital expenditure for the year by about CA$180 million (US$143.3 million), becoming the latest oil and gas company to do so.
Concho Resources Inc. (NYSE: CXO) posted a better-than-expected quarterly profit on Aug. 2, helped by higher crude prices that led it to boost its output forecast for the year.