Update: Pricing Announced Callon Petroleum (ticker: CPE) upsized its stock offering one day after its original announcement, increasing the total to 12.0 million shares with a greenshoe of 1.8 million additional shares. The first round of stock offerings is expected to yield gross proceeds of approximately $100.8 million. Taking those metrics into account, the greenshoe would boost the gross proceeds to
Latest action from energy M&A front line Apache Corporation (ticker: APA) rejected an unsolicited bid of $18 billion over the weekend, according to a report from Bloomberg. Apache has not commented on the report, but the company is said to be working with Goldman Sachs Group Inc. on a defense strategy. The development is the latest chapter in an energy
PrairieSky to purchase Canadian Natural assets for C$1.8 billion Canadian oil major Canadian Natural Resources (ticker: CNQ) announced today that PrairieSky Royalty (ticker: PSK) will purchase assets from CNR to for the largest fee simple mineral title and royalty positions in Western Canada. PrairieSky will acquire a portion of Canadian Natural’s royalty assets for total consideration of C$1.8 billion (USD$1.36
Study finds hydraulic fracturing added 725,000 jobs during the Great Recession The energy boom brought on by hydraulic fracturing helped to soften the blow from the Great Recession, a new study conducting by the National Bureau of Economic Research found. Between 2005 and 2012, 725,000 jobs were added to support the oil and gas industry as it rapidly expanded thanks
From Bloomberg: Barack Obama belittled the Keystone XL pipeline debate even as he brought it to a close. The project, which would have delivered heavy, oil-sands crude from Western Canada to the Gulf Coast, “has occupied what I, frankly, consider an overinflated role in our political discourse,” he said Friday. “It became a symbol too often used as a campaign
HOUSTON, Nov. 09, 2015 (GLOBE NEWSWIRE) — Marathon Oil Corporation (MRO) announced today that the Company has signed an agreement for the sale of its operated producing properties in the greater Ewing Bank area and non-operated producing interests in the Petronius and Neptune fields in the Gulf of Mexico for $205 million. The buyer will assume all future abandonment obligations
From Bloomberg Star Petroleum Refining Pcl, a Thai refining unit of Chevron Corp., plans an initial public offering of as much as 15.6 billion baht ($434 million) to repay some loans and fulfill its obligation to the government for a stock listing. Star Petroleum, owned 64 percent by Chevron at present, will raise about 3.1 billion baht from the sale
HOUSTON, Nov. 09, 2015 (GLOBE NEWSWIRE) — Energy XXI (EXXI) today announced financial and operating results for the three months ended September 30, 2015 (fiscal 2016 first quarter), and provided an operations update. Highlights include: Production continues to be stable 1Q 2016 net oil production averaged 42,200 barrels per day 1Q 2016 total net production averaged 58,900 barrels equivalent per day
DALLAS–(BUSINESS WIRE)–Energy Transfer Equity, L.P. (NYSE: ETE) and Energy Transfer Partners, L.P. (NYSE: ETP) announced that effective today, Marshall (Mackie) S. McCrea, formerly President and Chief Operating Officer of ETP, has been promoted to Group Chief Operating Officer and Chief Commercial Officer for ETE. Also effective today is the appointment of long-time ETE board member, Matthew S. Ramsey as President
HOUSTON, Nov. 9, 2015 /PRNewswire/ — Energy Water Solutions (“EWS”) today announces the culmination of a six-month project to irrigate a cotton crop in Pecos, Texas, using recycled produced water from nearby oil and natural gas activity in the Delaware Basin. This cotton-growing project is the first of its kind in Texas and required a groundbreaking coalition of partners to make
Capital will be raised in Five Tranches Advocates for the highly scrutinized merger between Halliburton (ticker: HAL) and Baker Hughes (ticker: BHI) possibly received the most positive news to date in a news release issued on November 5, 2015. Halliburton, the world’s second largest oilservice provider by market capitalization, will issue a total of $7.5 billion in senior notes to
Hercules Offshore, Inc. (Nasdaq: HERO) (the “Company” or “Hercules”) announced today that it has completed its financial restructuring and emerged from Chapter 11, and funding of the Company’s new $450 million senior secured credit facility has been completed. “Today marks the beginning of a new chapter for Hercules. Proactively restructuring our balance sheet early in the cycle generated significant benefits for
