Capital Markets

Source: Reuters

JP Morgan raises 2020 oil price view on OPEC+ cuts, improved economic outlook

Reuters


JP Morgan on Tuesday raised its oil price outlook and forecast supply-demand balance to tighten next year against the backdrop of the OPEC and its allies increasing output cuts and stronger economic growth in emerging markets.

The investment bank …

Source: Houston Chronicle

Goldman Sachs to invest $750 billion in clean energy, ‘sustainable’ industries

Houston Chronicle


WASHINGTON – The investment bank Goldman Sachs is committing to make available $750 billion over the next decade to invest in and finance cleaning up the energy industry, along with making farming more sustainable and reducing poverty, the …

December 16, 2019 - 3:00 pm Capital Markets, Closing Bell Story‎, Energy News, ESG
Source: Houston Chronicle

Weatherford emerges from bankruptcy with $10 billion of support

Houston Chronicle


Switzerland and Houston-based oilfield service company Weatherford International has emerged from Chapter 11 bankruptcy with roughly $10 billion of financial support.

In a Friday morning statement, Weatherford announced that the company emerged from Chapter 11 with $6.2 billion …

Source: Houston Chronicle

Saudi Aramco raises $25.6 billion in world’s biggest IPO

Houston Chronicle


Saudi Aramco raised $25.6 billion from the world’s biggest initial public offering, closing a deal that became synonymous with the kingdom’s controversial crown prince and his plans to reshape the nation.

The state-owned oil giant set the final …

December 6, 2019 - 12:30 pm Capital Markets, Closing Bell Story‎, Energy News, International
Source: Reuters/Maxim Shemetov

Aramco IPO banks face pared payday of $90 million or less: sources

Reuters


DUBAI/LONDON – After battling it out for a role in a giant IPO that promised to make history, and enduring delay after delay, investment banks advising Saudi Aramco are set to be rewarded with relatively slim pickings.

The 25 …

Source: Houston Chronicle

Troubled oil field service company McDermott lands $1.7 billion in new financing

Houston Chronicle


Roughly a month after its stock plummeted in value by 75 percent, Houston oil field service company McDermott International has landed $1.7 billion in new capital.

In a Monday morning filing with the U.S. Securities and Exchange, McDermott …

Source: Reuters/Maxim Shemetov

Aramco listing was delayed to rope in anchor investors: sources

Source: Reuters


DUBAI/RIYADH (Reuters) – Oil giant Saudi Aramco’s much-vaunted stock market listing was delayed after deal advisers said they need more time to lock in cornerstone investors, three sources with direct knowledge of the matter told Reuters.

After a …

Oil prices fall 1% as global demand concerns grow

Oil prices fall 1% as global demand concerns grow

Source: Reuters


NEW YORK (Reuters) – Oil prices fell more than 1% on Monday after comments from a U.S. official stymied hopes that a U.S.-China trade deal would be reached soon, prompting renewed concern that a slowing global economy would …

Source: Reuters/Maxim Shemetov

Saudi Aramco delays planned IPO to allow for earnings update: sources

Source: Reuters


DUBAI/RIYADH (Reuters) – Saudi Aramco (IPO-ARMO.SE) has delayed the planned launch of its initial public offering (IPO), as the giant oil company wants to update investors with its latest earnings before proceeding, two sources familiar with …

Source: Reuters

One month after worst oil-supply halt, Aramco says all clear

Source: Houston Chronicle


In the early hours of a sweltering Saturday in September, a volley of missiles pierced the heart of Saudi Arabia’s oil industry, knocking out 5% of global production. A month later, it’s as if the attack never …

Oil drops after biggest gain in a month as trade optimism ebbs

Oil drops after biggest gain in a month as trade optimism ebbs

Source: Houston Chronicle


Oil slid after surging the most in almost a month on Friday amid doubts that recent progress in the U.S.-China trade talks will compensate for a worsening global demand outlook.

Futures in New York fell as much …

Source The Houston Chronicle

Oil slides to its worst quarter this year on demand worries

From The Houston Chronicle


Oil recorded its weakest quarter since late last year as fears over a global economic slowdown overshadowed an unprecedented attack on Saudi Arabia’s key energy facilities.

Brent futures slumped 8.7% since the end of June after …

September 30, 2019 - 4:14 pm Capital Markets, Closing Bell Story‎, Crude Oil News
Source Reuters

Offshore bosses try to win back investors after ‘horrible year’

The Houston Chronicle


Offshore drilling executives are trying to win back investors who have fled their stocks over the past year, insisting that a protracted recovery is gaining momentum.

After suffering their worst downturn ever following the collapse of oil …

September 13, 2019 - 2:25 pm Capital Markets, Closing Bell Story‎, Offshore
Opec Slides Closer To Collapse As An Oil Glut Overpowers The Oil Price

Opec Slides Closer To Collapse As An Oil Glut Overpowers The Oil Price

From Forbes


Three days of falling oil prices is not a crisis for OPEC, the weakening oil producer’s club, but forecasts of a continuation of the price decline could sap what strength remains in an organization once able to dictate …

Source World Oil

Trump administration paves way for Arctic drilling rights sale

From World Oil


The Trump administration on Thursday took a major step toward auctioning oil drilling rights across every acre of the Arctic National Wildlife Refuge’s coastal plain, hours after the House of Representatives voted to outlaw the activity.

In …

September 13, 2019 - 11:43 am Capital Markets, Closing Bell Story‎, Energy News, Offshore
Source Reuters

OPEC members Iraq, Nigeria agree to cut oil output

From Reuters


OPEC agreed on Thursday to trim oil output by asking over-producing members Iraq and Nigeria to bring production in line with their targets as the group strives to prevent a glut amid soaring U.S. production and a slowing …

Source Reuters

U.S. briefly overtakes Saudi Arabia as top oil exporter: IEA

From Reuters


Global oil demand is weathering economic headwinds, the International Energy Agency (IEA) said on Thursday, buoyed by lower prices brought on by abundant supply as the United States briefly dethroned Saudi Arabia as the world’s top exporter.

“With …

Source The Houston Chronicle

Oil plummets as Trump signals thaw in Iranian sanctions deadlock

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 …

September 12, 2019 - 11:43 am Capital Markets, Closing Bell Story‎, Crude Oil News

Alta Mesa Resources and Alta Mesa Holdings File Voluntary Bankruptcy Petition; Announce Leadership Changes

Alta Mesa Resources and Alta Mesa Holdings File Voluntary Bankruptcy Petition; Announce Leadership Changes

Source boonepickens.com

Legendary Energy Executive, Entrepreneur T. Boone Pickens Dies at 91

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 …

September 11, 2019 - 5:29 pm Capital Markets, Closing Bell Story‎, Energy News, People
Source Reuters

OPEC+ to discuss deeper oil cuts on Thursday: Iraq minister

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 …

Sources Reuters

Saudi Aramco gives nine banks top roles on world’s biggest IPO: sources

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 …

Source: The Houston Chronicle

Baker Hughes to become independent again in stock sale

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 …

September 11, 2019 - 10:51 am Capital Markets, Finance, Oilfield Services
Source Parker Drilling

Parker Drilling’s Board of Directors Approves Plan to Voluntarily Terminate Registration of Its Common Stock with the SEC and Voluntarily Delist from the NYSE

HOUSTONSept. 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”) …

Source Forbes

Is Saudi Oil Policy Changing Before Our Eyes?

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 …

September 10, 2019 - 12:56 pm Capital Markets, Crude Oil News, Energy News, International, OPEC
Source Reuters

Aramco ready for foreign float alongside primary domestic listing

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 …

Source The Houston Business Journal

Former Tudor Pickering Holt leader spins out energy asset management firm

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

September 10, 2019 - 11:55 am Capital Markets, Closing Bell Story‎, People, Popular 3

WPX Energy Commences Tender Offers for Senior Notes due 2022 and 2023

WPX Energy Commences Tender Offers for Senior Notes due 2022 and 2023

Source Reuters

Saudi Aramco pursues IPO with local listing plan as lines up banks: sources

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 …

Source Reuters

Paulson’s hedge fund calls on Callon to drop merger, sell itself

From Reuters


Billionaire investor John Paulson’s hedge fund on Monday urged Callon Petroleum Co (CPE.N) to drop its proposed $3.2 billion acquisition of Carrizo Oil & Gas Inc (CRZO.O), and instead consider selling itself.

Paulson & …