FS Investments (FS) and EIG Global Energy Partners (EIG) closed a transaction today, allowing EIG to manage FS Energy and Power Fund (FSEP). According to the company’s press release, FSEP will be the largest energy-focused business development company (BDC) in the marketplace with $4.3 billion in assets under management. “We are excited to enter the next phase of our partnership
Kimmeridge pushes the firm to focus on Permian Activist investors continue to shake up E&P companies, with one group now taking aim at Carrizo Oil & Gas (ticker: CRZO). Private equity firm Kimmeridge Energy disclosed an 8.1% stake in Carrizo today, roughly 6.6 million shares. According to the filing, Kimmeridge is pushing Carrizo to remedy several challenges. Kimmeridge believes Carrizo
Days after closing a merger with Fifth Creek Energy and retiring the name Bill Barrett Corp. to form a new company, HighPoint Resources Corporation (ticker: HPR), the Denver-based oil and gas company has appointed five new outside members to its board of directors, effective immediately, taking the board from six to eleven members. HighPoint’s new board members are: Mark S.
EIA predicts U.S. gas production will grow by nearly 1 Bcf/d in one month EnerCom’s Effective Rig Count rose sharply last month, as improving efficiencies combined with a jump in active rigs. The Effective Rig Count now stands at 2,670, meaning it would take 2,670 rigs from January 2014 to yield the same production as current operations are achieving. Current
Independent investment bank Moelis & Company (ticker: MC) appointed Tellurian co-founder Martin Houston as an advisory partner and as chairman of its Global Energy Group. Houston is vice chairman at Tellurian Inc., an early stage U.S. Gulf coast LNG export project that he co-founded in 2016 with Charif Souki, former CEO of Cheniere Energy. Houston was formerly COO at BG.
By ASSOCIATED PRESS U.S. stocks plunged in another dizzying day of trading Thursday as investors dissected Federal Reserve Chairman Jerome Powell’s latest testimony before Congress and the possibility of stiff tariffs on steel and aluminum imports. The Dow Jones industrial average was down more than 500 points. Stocks were higher earlier in the day after Powell appeared to calm one of
EnerCom’s Texas-based oil and gas investment conference started with a morning surprise of rare icy roads greeting visitors to Dallas, but that didn’t slow down institutional investors arriving at the Tower Club to hear oil company senior management teams present their 2018 plans and 2017 highlights. Attendees began arriving at the Thanksgiving Tower before 7:00 a.m. Vermilion Energy (ticker: VET),
Improvements in rigs, rapid pace for pad drilling, more pumping horsepower and higher efficiencies boost effective rig count to 2,495 rigs EnerCom has released the latest Effective Rig Count, examining the state of drilling activity in major shale basins. The Effective Rig Count continues to rise, and is now approaching 2,500. There are currently 2,495 effective rigs in the U.S.,
Consortium looks at creating alternative private equity model with reduced fees From Chief Investment Officer Magazine Aiming to reduce fees paid to private equity general partners, The Alaska Permanent Fund, the UK Railways Pension Scheme, and asset manager The Wafra Group are launching a joint $1 billion program to seed six new private equity firms, says Ashby Monk, a Stanford
Lucid Energy Group and EnCap Flatrock Midstream have agreed to sell Lucid Energy Group II, LLC to funds owned by Riverstone Holdings LLC and the Goldman Sachs Group Inc. (ticker: GS) for approximately $1.6 billion. The participating investment funds managed by Goldman Sachs MBD are West Street Capital Partners VII, L.P., West Street Global Infrastructure Partners III, L.P., and West Street Energy Partners, L.P.
Early today Earthstone Energy, Inc. (Ticker: ESTE) completed the sale of its Bakken assets. According to the company’s press release, the assets were sold to an unaffiliated party for about $27 million in cash. The effective date of the transaction is December 1, 2017. Earthstone Energy plans to use the proceeds from this transaction to pay down debt under its
Efficiencies increasing once again EnerCom has released the latest Effective Rig Count, examining the state of drilling activity in major shale basins. The Effective Rig Count rose in November, growing to 2,298, up from 2,284 the prior month. The number of active rigs dropped, but efficiency gains outweighed these decreases. The average drilling operation is now 2.9 times more productive
