From The Houston Chronicle Oil dropped to a one-week low as U.S. President Donald Trump considered easing sanctions on Iran that severely restricted the OPEC member’s ability to export crude. Futures declined more than 2% in New York and London on Wednesday. Trump is preparing to meet with Iranian President Hassan Rouhani later this month, according to people familiar with
Alta Mesa Resources and Alta Mesa Holdings File Voluntary Bankruptcy Petition; Announce Leadership Changes
From Boonepickens.com DALLAS, Texas – T. Boone Pickens, legendary energy executive and one of America’s best-known entrepreneurs, passed away today at the age of 91. The long-time Dallas resident, who had battled back from a series of strokes and further head injuries sustained in a 2017 fall, died of natural causes surrounded by friends and family on September 11, 2019,
From Reuters OPEC and its allies will discuss whether there is a need for deeper cuts in oil production when they hold a ministerial meeting on Thursday, Iraq’s oil minister said. The Organization of the Petroleum Exporting Countries and allied producers led by Russia, a grouping known as OPEC+, agreed last year to cut oil supply by 1.2 million barrels
From Reuters Saudi Aramco has hired nine banks as joint global coordinators to lead its planned initial public offering (IPO), slated to be the world’s largest, two sources familiar with the matter told Reuters on Wednesday. The mandates have been heavily sought by the world’s biggest investment banks for a transaction which, according to Saudi Crown Prince Mohammed bin Salman’s
From The Houston Chronicle Houston oilfield service giant Baker Hughes is poised to become an independent company again. Boston industrial conglomerate General Electric will lose its majority ownership of Baker Hughes in a planned stock sale that could be worth more than $2.5 billion. The two companies announced the sale in a Tuesday afternoon statement. General Electric said it plans
HOUSTON, Sept. 10, 2019 /PRNewswire/ — Parker Drilling Company (NYSE: PKD) (“Parker” or the “Company”) today announced that its Finance and Strategic Planning Committee, which consists solely of independent directors, has recommended, and its Board of Directors (the “Board”) has approved, a plan to cease the registration of the Company’s common stock under the Securities Exchange Act of 1934, as amended (the
From Forbes Making sense of the internal politics of Saudi Arabia has never been easy because of the kingdom’s closed power structure. But major changes have taken place at the top of the Saudi energy industry in recent days, and they will likely have an impact both on Saudi Arabia’s near-term oil policy and how the OPEC kingpin manages its vast
From Reuters Saudi Aramco is primed to float on international markets to complement a planned domestic initial public offering (IPO) which has been selected as its primary listing, the state oil giant’s chief executive said on Tuesday. An IPO of Saudi Aramco would happen “very soon”, Amin Nasser cited the kingdom’s new energy minister Prince Abdulaziz bin Salman as saying,
From The Houston Business Journal Nearly three years after Houston-based energy investment banking firm Tudor, Pickering, Holt & Co. became part of New York-based financial services firm Perella Weinberg Partners, Dan Pickering is spinning off his own firm. Pickering spun out all remaining energy asset management strategies of the combined firm and created Houston-based Pickering Energy Partners, according to a
WPX Energy Commences Tender Offers for Senior Notes due 2022 and 2023
From Reuters Saudi Arabia plans a gradual listing of Aramco on its domestic market, sources familiar with the matter said on Monday, as it finalizes the roles banks will play in the initial public offering (IPO) of the world’s biggest oil company. The kingdom intends to list 1% of the state oil giant on the Riyadh stock exchange before the
