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360 Articles

Source: Reuters

Saudi officials considering delaying IPO after drone attack: WSJ

Source: Reuters Saudi Arabia officials are discussing delaying Aramco’s initial public offering as attacks on the company’s oil facilities have drastically reduced their output, the Wall Street Journal reported on Monday, citing people familiar with the matter. The company is expected to move forward with presentations to analysts and meetings with bankers as planned. However, Saudi energy officials and Aramco[Read More…]

September 16, 2019 - 10:30 am 360 Articles, Closing Bell Story, Energy News, Finance
Source: Tallgrass Energy

Tallgrass Energy Receives ‘Take Private’ Proposal

By Tyler Losier, Energy Reporter, Oil & Gas 360 Tallgrass Energy receives preliminary proposal letter from Blackstone Infrastructure Partners offering to take the company private Tallgrass Energy LP (stock ticker: TGE), a midstream infrastructure company, received a non-binding preliminary proposal letter from Blackstone Infrastructure Partners (stock ticker: BX) on Tuesday, offering to acquire all of the outstanding Class A shares[Read More…]

Source: Ashtead Technology

Forum Energy Technologies Sells Ashtead Technology

By Tyler Losier, Energy Reporter, Oil & Gas 360 Forum Energy Technologies to sell its aggregate 40% interest in Ashtead Technology for $39 million Forum Energy Technologies Inc. (stock ticker: FET), a global oilfield products company, has entered into a definitive agreement through its subsidiaries to sell an aggregate 40% interest in Ashtead Technology, a subsea rentals company, to majority[Read More…]

Kayne Anderson Makes $100 Million Upstream Investment

Kayne Anderson Makes $100 Million Upstream Investment

By Tyler Losier, Energy Reporter, Oil & Gas 360 Kayne Anderson Energy Fund VIII invests $100 million in newly-formed Indianola Energy Kayne Anderson Capital Advisors LP, through its Kayne Anderson Energy Fund VIII LP, has made a $100 million equity commitment in order to form Indianola Energy LLC, an upstream entity that will purse the acquisition and development of highly-proven[Read More…]

Source: Venture Global LNG

Venture Global Closes on Project Financing for Calcasieu Pass LNG

By Tyler Losier, Energy Reporter, Oil & Gas 360 Proceeds from Venture Global’s debt and equity financing will fully fund the construction and commissioning of its Calcasieu Pass LNG facility Venture Global LNG Inc., headquartered in Arlington, Virginia, has closed on the project financing for its Calcasieu Pass LNG facility and associated TransCameron pipeline in Cameron Parish, Louisiana. The proceeds[Read More…]

August 19, 2019 - 5:56 pm 360 Articles, Closing Bell Story, Finance, LNG, Natural Gas News
Halcón Resources Appoints New CFO as Restructuring Process Continues

Halcón Resources Appoints New CFO as Restructuring Process Continues

By Tyler Losier, Energy Reporter, Oil & Gas 360 Halcón Resources selects Ragan T. Altizer as its new EVP, CFO, treasurer Halcón Resources Corporation (stock ticker: HKRS), currently undergoing Chapter 11 reorganization proceedings, has appointed Ragan T. Altizer as its new executive vice president, chief financial officer and treasurer, effective August 14. Altizer will replace Quentin Hicks, who resigned from[Read More…]

Source: QEP Resources

Anvil Capital Partners Provides Funding for Two Companies

By Tyler Losier, Energy Reporter, Oil & Gas 360 Vermilion Cliffs Partners gets $11 million senior secured loan facility On Monday, Anvil Capital Partners, a private credit special situations lending firm, announced the final close of an $11 million senior secured loan facility to Vermilion Cliffs Partners. According to Anvil, the funds will be utilized by Vermilion to support the[Read More…]

Source: Magellan Midstream

Magellan Midstream Prices $500 Million Debt Offering Due 2050

By Tyler Losier, Energy Reporter, Oil & Gas 360 Magellan Midstream prices $500 million of its 3.950% senior notes due 2050 Magellan Midstream Partners LP (stock ticker: MMP), based out of Tulsa, Oklahoma, has priced $500 million of its 3.950% senior notes due 2050 at 99.910% of par to yield 3.955% to maturity. Proceeds from the offering, after deducting underwriting[Read More…]

Source: Abraxas Petroleum

Saltstone Capital Pens Scathing Letter to Abraxas Petroleum

By Tyler Losier, Energy Reporter, Oil & Gas 360 Saltstone Capital Management calls for special committee of the board to review strategic alternatives Billy Bailey, founder and portfolio manager for Saltstone Capital Management LLC, penned a scathing letter to Abraxas Petroleum’s (stock ticker: AXAS) board of directors this week, calling for the creation of a special committee to explore strategic[Read More…]

Photo by Mike Goldwater"

UGI Subsidiary Closes on Columbia Midstream Deal

By Tyler Losier, Energy Reporter, Oil & Gas 360 UGI Energy Services completes acquisition of TC Energy subsidiary Columbia Midstream UGI Energy Services LLC, a subsidiary of UGI Corporation (stock ticker: UGI), has completed its previously announced acquisition of the equity interests of Columbia Midstream Group, a subsidiary of TC Energy Corporation (stock ticker: TRP), for approximately $1.275 billion. The[Read More…]

Source: Abu Dhabi National Oil Company

Singapore’s Sovereign Wealth Fund Joins KKR and BlackRock in Abu Dhabi Pipeline Investment

By Tyler Losier, Energy Reporter, Oil & Gas 360 Combined investment in Abu Dhabi National Oil Company’s pipeline project reaches almost $5 billion Source: Abu Dhabi National Oil Company Singapore’s sovereign wealth fund, GIC, has entered into an agreement with the Abu Dhabi National Oil Company (ADNOC) to contribute $600 million towards crude pipeline infrastructure, joining other prominent investors such[Read More…]

Source: Boor Drilling

Borr Drilling Goes Public

By Tyler Losier, Energy Reporter, Oil & Gas 360 Borr Drilling Limited launches IPO of five million common shares Borr Drilling (stock ticker: BORR), an international drilling contractor headquartered in Bermuda, has launched an initial public offering (IPO) in the United States for 5 million of its common shares. The newly public security will trade under the ticker symbol “BORR.”[Read More…]

Bam! – It’s Earnings Season Again

Bam! – It’s Earnings Season Again

By Aaron Vandeford, Managing Director, EnerCom EnerCom, Inc. has compiled Second quarter earnings per share, revenue, EBITDA and cash flow per share analyst consensus estimates on 95 E&P and 73 Oilfield Service companies in the EnerCom database. Download EnerCom’s full chart of estimates. Listen to Q2 earnings calls. The median E&P company earnings estimate for the quarter ending June 30,[Read More…]

Source: Bayou City Energy

Vanguard Emerges from Chapter 11 as Grizzly Energy

By Tyler Losier, Energy Reporter, Oil & Gas 360 Vanguard Natural Resources completes financial restructuring, emerges as Grizzly Energy Vanguard Natural Resources, a Houston-based onshore energy company, has successfully completed its Chapter 11 financial restructuring process, emerging as a new limited liability company under the name Grizzly Energy. According to the Houston Chronicle, this is the second time in two[Read More…]

Source: Royal Dutch Shell

Total Invests $500 Million in Tellurian, Enters Into LNG SPA

By Tyler Losier, Energy Reporter, Oil & Gas 360 Total commits to purchasing an aggregate of 2.5 Mtpa Total S.A. (stock ticker: TOT), through its subsidiaries Total Delaware and Total Gas & Power North America, has entered into a definitive agreement to purchase 1 Mtpa from Tellurian’s (stock ticker: TELL) Driftwood LNG terminal. Total will also invest $500 million in[Read More…]

July 11, 2019 - 1:19 pm 360 Articles, Closing Bell Story, E&P, Finance, LNG, Natural Gas News
Source: Encana

Encana Moving $165 Million Cash from Divestiture to its Balance Sheet

By Tyler Losier, Energy Reporter, Oil & Gas 360 Encana sells Newfield Arkoma Basin natural gas assets Encana Corporation (stock ticker: ECA), a Canadian-based company with unconventional assets in multiple North American basins, has agreed to sell its natural gas assets in Oklahoma’s Arkoma Basin to an undisclosed buyer through its wholly owned subsidiary Newfield Exploration Mid-Continent Inc. Total cash[Read More…]

Source: Summit Midstream Partners

Summit Midstream Partners Makes FID, Forms JV

By Tyler Losier, Energy Reporter, Oil & Gas 360 Summit Midstream to proceed with Double E pipeline project Summit Midstream Partners (stock ticker: SMLP) has made a final investment decision to proceed with its Double E pipeline project, after having secured sufficient commitments pursuant to binding precedent agreements for long-term, firm transportation service. The company also executed a definitive joint[Read More…]

Oil & Gas 360 Energy News

Antero Midstream to Launch $600 Million Offering

By Tyler Losier, Energy Reporter, Oil & Gas 360 Antero intends to offer $600 million in senior unsecured notes Antero Midstream Partners LP, a wholly owned subsidiary of Antero Midstream, intends to offer $600 million in aggregate principal amount of senior unsecured notes due 2028 in a private placement to eligible purchasers. The proceeds of this offering are expected to[Read More…]

Source: Amplify Energy

Amplify Energy Announces Release of $90 Million in Unencumbered Cash

By Tyler Losier, Energy Reporter, Oil & Gas 360 Funds to be released from Beta decommissioning trust account Amplify Energy Corporation (stock ticker: AMPY), focused on operations in the Rockies, offshore California, east Texas, north Louisiana and south Texas, has announced the release of $90 million in unencumbered cash. The money will originate from the Beta decommissioning trust account. Following[Read More…]

June 24, 2019 - 1:27 pm 360 Articles, Closing Bell Story, E&P, Finance, Offshore, TOGC24
Source: Roan Resources

Oil Capital: Roan Resources Receives Commitments for $100 Million Term Loan

By Tyler Losier, Energy Reporter, Oil & Gas 360 Roan reaffirms $750 Million borrowing base Roan Resources (stock ticker: ROAN) received commitments for a $100 million term loan facility this week, securing funds affiliated with certain shareholders represented on its board of directors. Interest rates for the loan are expected to be equal to three-month LIBOR plus 7.5%. In exchange[Read More…]

Source: PetroTal January 2019 Investor Presentation

PetroTal Increases Spending 280% in Q1 2019

By Tyler Losier, Energy Reporter, Oil & Gas 360   Increased expenditures, increased results PetroTal (stock ticker: PTALF, LSE: PTAL) released its first quarter financial results and operations update Tuesday, revealing an approximately 280% increase in spending compared to Q1 2018. This increased spending has been productive, as the company reported $4.32 million in net revenues and for the first[Read More…]

May 29, 2019 - 4:06 pm 360 Articles, Closing Bell Story, E&P, Finance
Source White Star Petroleum

Another Chapter 11: White Star Petroleum to Explore Strategic Alternatives

By Tyler Losier, Energy Reporter, Oil & Gas 360   White Star receives $28.5 million in committed financing White Star Petroleum, LLC, a privately held independent E&P headquartered in Oklahoma City, is exploring strategic alternatives after commencing voluntary Chapter 11 with the support of its primary secured creditors. The company received $28.5 million in committed “debtor-in possession” (DIP) financing to[Read More…]

May 28, 2019 - 4:08 pm 360 Articles, Closing Bell Story, E&P, Finance
Source: TC Energy

TC Energy Secures $1.15 Billion from Sale of 56 Mile Pipeline

By Tyler Losier, Energy Reporter, Oil & Gas 360   85% interest expected to gross $1.15 billion TC Energy Corporation (stock ticker: TRP) has entered into an agreement to sell an 85% equity interest in the Northern Courier Pipeline to Edmonton-based Alberta Investment Management Corporation (AIMCo), an investment manager responsible for the investments of 31 pension, endowment and government funds[Read More…]

May 28, 2019 - 1:06 pm 360 Articles, Canada, Closing Bell Story, Finance, Midstream
NSAI Adds New Delhi To Oil and Gas Property Evaluation Seminar Lineup

NSAI Adds New Delhi To Oil and Gas Property Evaluation Seminar Lineup

By Tyler Losier, Energy Reporter, Oil & Gas 360   International petroleum consultancy Netherland, Sewell & Associates Inc. has added a New Delhi presentation to their 2019 Oil and Gas Property Evaluation Seminar lineup. The revised schedule is as follows: Dallas – Completed London – June 11-12, 2019 Singapore – July 11, 2019 New Delhi – July 16, 2019 Mexico[Read More…]

May 23, 2019 - 3:37 pm 360 Articles, Closing Bell Story, Finance
Source: Goodnight Midstream

Largest Energy IPO of 2019

By Tyler Losier, Energy Reporter, Oil & Gas 360   Rattler Midstream raises $665 in gross proceeds Diamondback Energy, Inc. (stock ticker: FANG) subsidiary Rattler Midstream LP (stock ticker: RTLR) priced its upsized initial public offering this Wednesday, offering up 38,000,000 shares to the public at a price of $17.50 per common unit. This represents a 4,666,667 unit increase from[Read More…]

May 23, 2019 - 2:11 pm 360 Articles, Closing Bell Story, Finance, Midstream
Jones Energy Logo

Jones Energy Emerges from Bankruptcy with $225 Million Borrowing Base Agreement

By Tyler Losier, Energy Reporter, Oil & Gas 360   On May 17, Jones Energy, Inc. (stock ticker: JONEQ) emerged from Chapter 11 after satisfying the requirements of the company’s pre-packaged plan. The announcement came 33 days after the company filed for bankruptcy protection, and less than two weeks after the U.S. Bankruptcy Court for the Southern District of Texas[Read More…]

May 21, 2019 - 4:37 pm 360 Articles, Closing Bell Story, E&P, Finance
Williston Basin - IPAA

KKR and Western Natural Resources Team Up in the Williston

By Tyler Losier Partnership seeks to acquire assets Investment firm KKR (stock ticker: KKR) is partnering with Western Natural Resources, with the intention of acquiring and producing undeveloped assets in the Williston Basin. This move is closely aligned with KKR’s Energy Real Assets strategy, which has grown to make up around $4 billion of its investment portfolio since the program’s[Read More…]

May 21, 2019 - 12:54 pm 360 Articles, Closing Bell Story, E&P, Finance, Private Equity
Baker Botts Sees Increasing Risk for Private Equity Energy Firms - Oil & Gas 360

Baker Botts Sees Increasing Risk for Private Equity Energy Firms

Law firm Baker Botts’ energy litigation team sent out an update on trends the lawyers are seeing relating to litigation and oil and gas development. Meghan Dawson McElvy is the firm’s point person in this practice area. The firm said that the traditional E&P buy-and-flip model for private equity energy firms consisted of putting acreage together with a management team[Read More…]

May 20, 2019 - 4:37 pm 360 Articles, Closing Bell Story, E&P, Finance, Private Equity
Private Equity Firm and Houston Non-Op Join Forces on Deepwater GOM Exploration Program

Private Equity Firm and Houston Non-Op Join Forces on Deepwater GOM Exploration Program

Another private equity – E&P exploration program Private non-op Houston Energy, L.P. announced that it has entered into a strategic agreement with a private equity firm for deepwater Gulf of Mexico non-operated exploration projects. Houston Energy Co-Founder and Co-O Ron Neal said: “We are very pleased to enter into this venture and exploration program with our new private equity partner.[Read More…]

May 16, 2019 - 5:45 pm 360 Articles, Closing Bell Story, E&P, Finance, Private Equity
Pegasus Snags Second $300 Million Equity Commitment from EnCap

Pegasus Snags Second $300 Million Equity Commitment from EnCap

Pegasus Resources, LLC, a mineral and royalty company based in Fort Worth, Texas, has secured a second $300 million equity commitment from EnCap Investments L.P. EnCap’s total commitment to Pegasus is now $600 million. Pegasus received the initial commitment of $300 million from EnCap in November 2017. Pegasus focuses on acquisition and management of mineral and royalty properties in the core[Read More…]

February 11, 2019 - 5:17 pm 360 Articles, Closing Bell Story, E&P, Finance