After oil market dropped 30% from October, the market jumped 5% with OPEC’s decision to cut oil production by 1.2 million barrels per day.
Today’s Forty Under 40 honoree is Maggie Niekrash, who helped co-found The Huntington National Bank’s energy team in 2012 and grow its portfolio to over $1.5 billion in loan commitments.
Petrie Partners’ Jacob Nagy, an energy investment banker who has packed a lifetime’s worth of accomplishments into his 11-year career, is today’s Forty Under 40 honoree.
Today’s Forty Under 40 is Patrick Lissonnet, who as managing director for Kayne Anderson’s private-equity activities in the energy space focuses on identifying investment opportunities.
Finance - Buy Backs
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.
Devon Energy Corp. (NYSE: DVN) has completed its initial accelerated share repurchase program that commenced in early August, the company said on Sept. 14.
Finance - Debt
Oil producer cartel OPEC and its partners will need to keep production lower than their agreed target through 2019 for benchmark Brent crude to come back to $70 a barrel (bbl), oil and gas consultancy Rystad Energy said.
Anadarko Petroleum Corp. (NYSE: APC) has commenced a cash tender offer for up to $500 million combined aggregate principal amount of its outstanding 3.45% notes due 2024, 4.85% notes due 2021 and 5.55% notes due 2026, the company said on Nov. 28.
Remember this when going public: It’s a clean slate and what transpired as a private company no longer matters.
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.
Finance - Equity
The Dallas-based fund will be liquidated and investor capital will be returned at the end of the year, according to the letter which was reviewed by Reuters.
Flat Creek Resources plans to use its $400 million initial commitment from EnCap Investments to build an attractive asset in the Permian Basin in West Texas and New Mexico.
After making four energy investments in 2014, private-equity firm Warburg Pincus made three in 2015 before recovering to five in both 2016 and 2017.
Energy Spectrum’s Ben Davis maps out the etiquette for both sponsor and management team in navigating the relationship.
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.