Finance

Exclusives

Diamondback Energy’s Rattler Midstream Files IPO

Diamondback’s decision to take its Rattler midstream subsidiary public is the latest move by an E&P to address takeaway capacity concerns in the Permian Basin.

August 14, 2018

E&P Deal Flow Dilemma

The change in investor sentiment has in turn altered how private-equity sponsors and portfolio companies exit.

August 14, 2018

Big Oil Switches Focus From Profits To Production

‘Value over volume’ mantra has been discarded as investors seek growth in output.

August 3, 2018

Big Need For Energy Capital Looms

Alternative lending sources are needed to fill the gap left by an RBL market in transition and capital-hungry shale producers, says Mark Green, president of Madava Financial.

August 3, 2018

Finance - Buy Backs

ConocoPhillips Expands Share Repurchase Program To $3 Billion

The company expects to fully fund this year’s $3 billion program, as well as its dividend and capex, with cash from operations.

July 12, 2018

Woodside May Exit Sempra Port Arthur LNG Export Project In Texas

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.”

June 27, 2018

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

Finance - Debt

High Yield Holds Its Ground

High-yield energy has outperformed many of its fixed income peers as E&P capital discipline provides a clear path to generating free cash flow.

August 1, 2018

Anadarko Increases Share-Repurchase Program By $1 Billion

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.

July 9, 2018

Alaska LNG Preparing Equity Offering, Open To Joint Venture

Alaska Gasline Development Corp. (AGDC) is preparing an equity offering for this summer and is open to partnering with a major energy firm on the development of its costly Alaska LNG export terminal and pipeline project, an executive said on June 28.

June 29, 2018

Goodnight Midstream Expands Credit Facility To $320 Million

Goodnight Midstream LLC recently expanded its revolving credit facility to $320 million, the Dallas-based midstream water infrastructure company said June 7.

June 8, 2018

Finance - Equity

Carlyle Reportedly Seeks To Raise New $4 Billion Energy Fund

The new $4 billion fund will be used by Carlyle to buy companies in the energy supply chain outside of North America, the Financial Times reported.

July 17, 2018

Black Bay Closes $224 Million Inaugural Fund Focused On Oilfield Services

Black Bay Energy Capital is a private-equity firm investing in the North American oilfield service sector focused on investments of up to $30 million.

July 17, 2018

BlackRock Plans Its Largest Ever Alternative Investment Fundraiser

The company announced on July 11 that it has already raised $1.5 billion for the Global Energy and Power Infrastructure Fund III.

July 12, 2018

Private Equity: Zigging When Others Are Zagging

Rather than capital discipline, private equity is targeting growth, according to panelists at the Energy Capital Conference.

May 17, 2018

Finance - Redemptions

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

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

Finance - Restructuring

Fieldwood Energy: Voyage From Debt To The Deep

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.

July 10, 2018

SAExploration To Buy Certain Assets From Bankrupt Geokinetics

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.

June 28, 2018

EV Energy Partners Begins ‘New Chapter’ As Harvest Oil & Gas

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.

June 11, 2018

Questerre Settles Lawsuit; Consolidates Quebec Position

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.

June 4, 2018