Last year ended with the worst quarter for upstream equity issuances since 2010 as only two equity deals raised $67.5 million.
Supply, demand and geopolitics aside, could “algo trading” be whipsawing the crude markets?
While energy bankruptcy filings slowed in 2018, the total amount of debt in oil and gas remains staggering, a recent Haynes and Boone report says.
Credit ratings for several businesses that supply power to PG&E were cut sharply last week, potentially raising the cost of capital for the industry,
Finance - Buy Backs
Pioneer Natural Resources CEO Timothy Dove said the buyback plan was consistent with the priorities of the Permian Basin-focused company's 10-year plan.
Earl Reynolds, Chaparral Energy CEO, recently discussed with Hart Energy what allowed recent success in the company's positions in Garfield and Canadian counties, plus an interesting employee compensation plan tied to productivity.
Antero Midstream is set to combine with its general partner and emerge as a C-corp entity under a new moniker.
Finance - Debt
Rating agency Fitch downgraded the credit rating of Mexican state oil company Pemex on Jan. 29, sending the peso currency falling in early trading in Asian markets.
King & Spalding on Jan. 29 announced that Alan Noskow has joined as a partner in the firm’s Corporate, Finance and Investments practice group in the Washington, D.C. office.
Targa had initially planned to offer a $750 million bond but later doubled its debt offering due to strong investor demand, according to a Financial Times report.
Sinking oil prices are turning distressed U.S. energy companies, such as Gastar Exploration, Parker Drilling and Waypoint Leasing, into takeover targets for opportunistic private investors.
Finance - Equity
New Fortress Energy is likely to file for an IPO again on Jan. 24, changing its language and picking a target price for shares, the Wall Street Journal reported citing people familiar with the matter.
Ali Sharifi of Kerogen Capital discusses the burgeoning opportunity to use data to create value in the oil and gas industry. He discusses the key challenges, success stories and the likely path to further adoption.
Heavy losses in 2018 reinforce view that energy investments are unsafe.
Post Oak Energy Capital led a $50 million equity commitment to Prime Downhole Holdings, a Houston-based downhole tools provider formed by CEO Leif Syversenn.
Finance - Redemptions
QEP Resources Inc. (NYSE: QEP) said on Nov. 6 it has priced an offering of $500 million aggregate principal amount of senior notes due 2026.
Holly Energy Partners LP and Holly Energy Finance Corp. will redeem all $300 million of their outstanding 6.50% senior notes due 2020, according to a Dec. 2 press release.
Paramount Resources Ltd. will redeem about $286.58 million of outstanding 7.625% senior unsecured notes due 2019 on Dec. 19 of this year, the company said Nov. 17.
Concho also said it recently completed its redemption of the $600 million of 7.0% senior notes due January 2021.
Finance - Restructuring
Today’s Forty Under 40 honoree is Paul F. Jansen, managing director in Conway MacKenzie’s energy consulting practice where he has played a key role in developing new business opportunities.
Brazil's incoming far-right government on Nov. 19 tapped a University of Chicago-trained economist with experience in the oil sector to be the chief executive of state-controlled Petroleo Brasileiro SA, amid a debate over privatization of the company's assets.
Fieldwood entered Chapter 11 with a simultaneous deal to buy Gulf of Mexico assets from Noble Energy while taking pains to meet obligations to employees and more than 700 vendors.
As part of a stalking-horse bid, SAExploration offered to acquire bankrupt Geokinetics' equipment and machinery, seismic processing software and equipment, and certain contracts with large E&P companies.