Finance

Exclusives

US Shale Companies Strike Cash On Higher Crude Prices

Leading shale oil producers are generating significant free cash with oil prices at present levels.

April 23, 2018

Latest Blank-Check Company Completes Upsized $414 Million IPO

Pure Acquisition, led by Jack D. Hightower, is the latest blank-check company to emerge with an industry veteran at its helm.

April 18, 2018

Study: Good News, Bad News For Canada’s Oil Industry

While companies are finally seeing black in the financial reports again, oil and gas jobs are still lagging, a Conference Board of Canada study revealed.

April 13, 2018

EIA: Brent Spot Price Heating Up For Summer

The government agency expects Brent to trend toward record numbers, but WTI to remain below $60/bbl.

April 11, 2018

Finance - Buy Backs

Hess To Buy Back $1 Billion Shares

Hess said the new buyback program was in addition to the $500 million plan the company had announced in late 2017.

March 8, 2018

Chevron Expects 2018 Production To Rise By Up To 7%

Chevron also revised its three-year annual capital spending plan to $18 billion to $20 billion and said it was looking to resume share buybacks.

March 6, 2018

QEP Resources Prices $500 Million Debt Offering; Launches Redemption, Buyback

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.

November 7, 2017

Baker Hughes Authorizes $3 Billion Share Buyback

Baker Hughes (NYSE: BHGE) said on Nov. 6 its board of directors has authorized Baker Hughes LLC, General Electric (GE) company, to repurchase up to $3 billion of its common units from BHGE and GE.

November 6, 2017

Finance - Debt

WildHorse Prices $200 Million Debt Offering

The offering is expected to close on April 20, 2018.

April 19, 2018

Range Resources Renews, Extends $4 Billion Credit Facility

Range CFO Roger S. Manny said the renewed and extended credit facility will support the development of the company's assets located in the Marcellus Shale and North Louisiana.

April 17, 2018

Comstock Resources Commences Debt Offering, Buyback

Comstock Resources Inc. has commenced tender offers for its outstanding senior secured notes and a buyback plan for its debt, the company said on April 2.

April 2, 2018

Tullow Oil Prices $800 Million Debt Offering

Tullow Oil Plc has priced its offering of $800 million aggregate principal amount of 7% senior notes due 2025.

March 16, 2018

Finance - Equity

Drillcore Launches New Fund Targeting 'Overlooked' Upstream Assets

Drillcore is led by Evan Turner, who is formerly director and head of energy at StormHarbour Partners and a founding member of CohnReznick Capital’s oil and gas group.

April 17, 2018

Tom Ward Returns To Midcontinent Spotlight With Private-Equity Backing

The founder and former top executive of several E&Ps including Chesapeake, SandRidge and Tapstone will partner with Bayou City Energy to hunt for acquisitions in Oklahoma and Kansas.

March 20, 2018

Northern Oil And Gas Commences $105 Million Equity Offering

Northern Oil and Gas Inc. (AMEX: NOG) has commenced an underwritten public offering of $105 million of shares of its common stock, par value $0.001 per share.

March 20, 2018

Centennial Prices Public Offering Of 25 Million Shares

Centennial Resource Development Inc. (NASDAQ: CDEV) has priced an underwritten public offering of an aggregate of 25 million shares of Class A common stock.

March 6, 2018

Finance - Redemptions

Holly Energy Partners Will Redeem Senior Notes Due 2020

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.

December 2, 2016

Paramount Resources Will Redeem Senior Unsecured Notes Due 2019

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.

November 18, 2016

Concho Completes Acquisition Of Midland Basin Core Acreage

Concho also said it recently completed its redemption of the $600 million of 7.0% senior notes due January 2021.

October 4, 2016

Halliburton Will Redeem $2.5 Billion In Senior Notes

The Bank of New York Mellon Trust Co. NA, the trustee, is notifying all current registered noteholders of the redemption.

May 9, 2016

Finance - Restructuring

Seadrill's Bankruptcy Exit Plan Receives US Court Approval

Seadrill aims to expand relations with Schlumberger and other service firms following approval of its multibillion-dollar debt restructuring plan, CEO Anton Dibowitz told Reuters.

April 18, 2018

Breitburn Bankruptcy Exit Sign Energy Industry Is Rebounding

The turnaround of Breitburn, which encountered many hurdles during its two-year Chapter 11 bankruptcy, indicates ‘better times in the energy industry.’

April 16, 2018

Breitburn Exits Bankruptcy As New EIG-Backed Company

Breitburn said it successfully completed its Chapter 11 reorganization and emerged as Maverick Natural Resources, a newly-formed company owned and operated by EIG.

April 13, 2018

Cobalt’s US Gulf Of Mexico Bankruptcy Auction Pulls In $578 Million

The largest winning bid was a $339 million joint offer by Statoil and Total for Cobalt’s 60% operated interest in the North Platte discovery.

April 11, 2018