Finance - News
Oil company Lexin Resources Ltd. said it has agreed to cooperate with the receivership process to better enable the sale of its licensed assets and has adjourned its countersuit against the Alberta Energy Regulator
Oil edged up less than 1% on June 12 on signs of inventory declines in the U.S. and news that Saudi Arabia will limit volumes of crude to some Asian buyers in July and deepen cuts to the U.S.
Russian Energy Minister Alexander Novak said in a TV interview aired on May 31 that he expected a "serious fight" for fast-developing and lucrative Asia-Pacific energy markets.
Quantum formed Middle Fork Energy Partners—a new E&P focused in the Rocky Mountain region—with an initial capital commitment of more than $200 million.
OPEC nations that deliver some of the lowest cost production will be relatively insulated from an early peak in oil demand caused by any faster-than-expected roll-out of electric vehicles, Glencore's chairman said on May 22.
Valorem Energy landed a capital investment from a Kayne Anderson Capital Advisors LP affiliate as the newly formed E&P works toward its targeted $1 billion for deals in the Rockies and Midcon.
New unit is expected to grow Oasis midstream business.
Resolute Energy is offering $125 million of its 2020 notes. The company said it plans to use the proceeds to finance its acquisition of Delaware Basin properties in Reeves County, Texas.
Rex Energy said the reverse stock split is intended to maintain its listing on NASDAQ and broaden the range of potential investors in the company.
Memorial Production Partners LP said May 4 it successfully completed its financial restructuring, emerging from Chapter 11 as a new corporation named Amplify Energy Corp.
Proceeds from IPOs of MLPs, the structure used by most energy firms to house assets that ship and store oil and gas, dropped to $323 million last year from $4.9 billion in 2015, according to Thomson Reuters data, Reuters reported.
Stakes in Iroquois and Portland systems will be dropped down to TC Pipelines.