BP launched a broadside against those calling for investors to sell out of oil and gas companies and warned this approach threatened energy security and the global economy.
EP Energy has focused on lease operating expenses and keeping development costs under control in order to achieve maximum efficiency.
Antero Midstream is set to combine with its general partner and emerge as a C-corp entity under a new moniker.
Even transactions that seem transparently well-conceived are facing harsh investor reactions, leading private operators to conclude that someone else—like themselves—will have to step up when opportunities emerge.
Finance - Buy Backs
Devon Energy Corp. (NYSE: DVN) has completed its initial accelerated share repurchase program that commenced in early August, the company said on Sept. 14.
The company expects to fully fund this year’s $3 billion program, as well as its dividend and capex, with cash from operations.
Peter Coleman, who was speaking at the World Gas Conference in Washington, said the project’s ability to provide Woodside with an adequate return is “very challenged.”
Hess said the new buyback program was in addition to the $500 million plan the company had announced in late 2017.
Finance - Debt
Day’s insights covered the burgeoning LNG business, the growing eastern Eagle Ford, and opportunities in the Gulf of Mexico and Bakken Shale, and how insurance can reduce business risk.
A 25-year period for Denmark as a net oil exporter is set to end this year following output declines in the North Sea, the country’s energy agency said on Aug.30 after slashing its long-term oil production forecast.
Christopher Abbate, Riverstone Holdings, talks private credit funds and alternative lending.
Anadarko Petroleum on July 9 announced its board of directors has authorized an expansion of the company's share-repurchase program to $4 billion, representing a $1 billion increase.
Finance - Equity
SandPoint is a San Antonio, Texas-based independent oil and gas company with a management team that has a deep history in the acquisition and development of South Texas assets.
LongPoint II is the second company launched by Denver-based FourPoint Energy LLC to focus exclusively on the acquisition of oil and gas mineral interests.
With this closing, the Piedra companies bring their aggregate outstanding commitments to $592 million earmarked for deployment in the Permian Basin.
A resurgence in upstream A&D activity ultimately depends on when public equity markets quit punishing operators for not yet having shown them the money.
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
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.
EV Energy Partners, an MLP, filed for Chapter 11 in early April. Parent firm EnerVest and its EnerVest Operating unit did not file for bankruptcy.
Questerre Energy reported on June 4 that it has executed a letter of intent with a senior E&P company to settle outstanding litigation and acquire all their assets in the St. Lawrence Lowlands, Quebec.