Finance - News

Canada's Lexin To Cooperate With Receivership; Adjourns Suit Against Regulator

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 Rises On Signs Of US Inventory Declines, Lower Saudi Exports

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 Predicts Tough Fight For Asia-Pacific Markets

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 Forms Rockies-Focused E&P With $200 Million Commitment

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.


Glencore Predicts OPEC Insulated From Electric Vehicle Impact

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.


Kayne Provides $300 Million To New E&P Led By Former Continental Execs

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.


Oasis Plans IPO For New Midstream MLP

New unit is expected to grow Oasis midstream business.


Resolute Energy Launches Debt Offering To Fund Delaware Deal

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 To Launch 1-For-10 Reverse Stock Split

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 Emerges From Bankruptcy With New Name

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.


Antero Midstream GP Raises $875 Million In IPO

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.


TransCanada To Sell Interests In Two Gas Pipelines For $765 Million

Stakes in Iroquois and Portland systems will be dropped down to TC Pipelines.