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360 Articles

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
EnerCom Announces Companies Presenting at  EnerCom Dallas Feb. 27- 28, 2019

EnerCom Announces Companies Presenting at EnerCom Dallas Feb. 27- 28, 2019

Oil industry senior management teams will discuss 2019 drilling plans at the EnerCom Dallas investment conference EnerCom Dallas is a financial conference that allows institutional investors an opportunity to hear and meet with CEOs from leading independent E&Ps, including Permian, Eagle Ford, Marcellus, Haynesville, Gulf of Mexico, Latin American and Canadian producers plus leading oilfield service companies supporting them. Registration[Read More…]

January 24, 2019 - 3:18 pm 360 Articles, Closing Bell Story, E&P, EnerCom Inc, Finance, Mexico, Midstream
Oil & Gas Bankruptcies Slow in 2018, but E&Ps Continue to Fold

Oil & Gas Bankruptcies Slow in 2018, but E&Ps Continue to Fold

E&P companies account for 67% of 2018 bankruptcies Energy attorneys Haynes and Boone have released the firm’s updated list of oil and gas bankruptcies, detailing how the continuing downcycle has affected companies. While oil prices were robust for much of the year, this did not save companies from falling into bankruptcy in 2018. A total of 43 oil and gas[Read More…]

Will Colorado’s Outperforming Economy Tank if Prop. 112 Succeeds at the Polls?

Will Colorado’s Outperforming Economy Tank if Prop. 112 Succeeds at the Polls?

If voters ban oil and gas drilling by voting in Prop 112, Colorado’s rosy economic metrics could turn sour in 2019-2021 and beyond In what may turn out to be a bit of economic irony, Colorado Secretary of State Wayne Williams released a report Monday that “Colorado’s economy is among the best in the country.” Personal income, wages, GDP, job[Read More…]

Carrizo Snags Delaware Basin Acreage from Devon in $215 Million Cash Bolt-On

Carrizo Snags Delaware Basin Acreage from Devon in $215 Million Cash Bolt-On

Carrizo places deal at $13,000 per net acre Houston’s Carrizo Oil & Gas, Inc. (Nasdaq: CRZO) said Tuesday it will acquire Delaware Basin properties from Devon Energy Corporation (NYSE: DVN) for $215 million in cash. Carrizo said it will fund the purchase with net proceeds from an equity offering. The underwritten public offering of 9,500,000 shares of common stock was priced[Read More…]

Cabot Oil & Gas Expands Share Repurchase Program

Cabot Oil & Gas Expands Share Repurchase Program

Cabot Oil & Gas (NYSE: COG) announced Q2 results, showing net income of $42.4 million, or $0.09 per share. Highlights Daily equivalent production of 1,895 MMcfe/d Adjusted net income of $57.9 million Net cash provided by operating activities of $273.9 million Discretionary cash flow of $196.5 million Returned $239.6 million of capital to shareholders through dividends and share repurchases Improved[Read More…]

July 30, 2018 - 4:23 pm 360 Articles, Canada, Closing Bell Story, E&P, Earnings, Finance
Northern Oil and Gas Reduces $9.9 Million of Par Value Notes

Northern Oil and Gas Reduces $9.9 Million of Par Value Notes

Northern Oil and Gas, Inc. (NYSE American: NOG) announced that it has entered into an additional independent, separately negotiated exchange agreement with an institutional holder of its 8% senior unsecured notes due 2020. The agreement represents a debt reduction of $9,943,000 par value of Notes. Through this and other recently announced exchanges, Northern has now entered into agreements to retire[Read More…]

July 18, 2018 - 4:54 pm 360 Articles, Closing Bell Story, Energy News, Finance, TOGC23
Dramatic Increase in Upstream M&A Seen for H2 2018

Dramatic Increase in Upstream M&A Seen for H2 2018

According to a recent report from Drilling Info, 2Q 2018 activity was low with only $8.7 billion in mergers and acquisitions compared to the quarterly average since 2009 of $17.8 billion. Drilling Info believes this was partially due to investors’ incessant cry for positive cash flow, forcing many companies to become pure-play to achieve this outcome. E&P company’s divestments now[Read More…]

ConocoPhillips Swaps UK Interests for More of Alaska

ConocoPhillips Swaps UK Interests for More of Alaska

ConocoPhillips (NYSE: COP) announced that it has entered into an agreement to sell a ConocoPhillips subsidiary to BP for an undisclosed price. The subsidiary will hold a 16.5 percent interest in the BP-operated Clair Field, with ConocoPhillips retaining a 7.5 percent interest in the field. ConocoPhillips also announced it has entered into simultaneous agreements to acquire BP’s 39.2 percent interest[Read More…]

July 5, 2018 - 1:15 pm 360 Articles, Closing Bell Story, Finance
Cheniere Energy to Acquire Cheniere Partners; Charters an LNG Carrier

Cheniere Energy to Acquire Cheniere Partners; Charters an LNG Carrier

Cheniere Energy, Inc. (NYSE American: LNG) announced today that it has reached a definitive agreement to acquire all of the publicly-held shares of Cheniere Partners Holdings (NYSE American: CQH). Cheniere Partners Holdings shareholders will receive a fixed ratio of 0.475 Cheniere Energy shares for each outstanding publicly-held share. The transaction is currently valued at $30.93 per common share of Cheniere[Read More…]

WaterBridge Secures $200 Million, Staffs Up

WaterBridge Secures $200 Million, Staffs Up

WaterBridge Resources LLC announced today that its subsidiary WaterBridge Operating LLC has entered a $200 revolving credit facility led by SunTrust Bank. This will further add to the $500 million acquired from Five Point Energy LLC, bringing WaterBridge Resources committed capital total to $700 million. This will be used for further growth in expansion in several domestic basins. The closing[Read More…]

Osprey Energy and Blackstone Create $894-Million Eagle Ford Venture

Osprey Energy and Blackstone Create $894-Million Eagle Ford Venture

Osprey Energy Acquisition Corp. announced today that it has reached a definitive agreement to acquire assets held by Royal Resources, a Blackstone owned entity, in exchange for $400 million cash and an ownership stake representing 47% of the outstanding common stock. The acquired assets from Royal Resources represent 100% of Blackstone’s mineral interests in the Eagle Ford Shale. The newly[Read More…]

June 4, 2018 - 3:53 pm 360 Articles, Closing Bell Story, Finance
Photo by Mike Goldwater"

Canada’s Proposed Bill C-69 Would Require Energy Project Environmental Assessments to Take Climate Change into Account

Bill gives cabinet and environment minister final power to approve or reject a project regardless of the findings of an environment assessment In February 2018, Catherine McKenna, the federal Minister of Environment and Climate Change, introduced Bill C-69. The bill may replace the Canadian Environmental Assessment Act of 2012 (CEAA 2012) with the Impact Assessment Act. McKenna claimed the new[Read More…]