From The Houston Chronicle As the sweet spots of the booming Permian Basin are drilled, oil companies will need to either spend more money or consider mergers and acquisitions to keep up their crude production volumes, according to the energy research firm Wood Mackenzie. The conundrum is that Wall Street is punishing the stocks of public energy companies that increase
By Tyler Losier, Energy Reporter, Oil & Gas 360 The staggering size of Aramco: Saudi Arabia’s state-owned oil company In 1933, the government of Saudi Arabia signed a concession agreement with the Standard Oil Company of California, creating an entity known as the California Arabian Standard Oil Company. Two years later, drilling began, and in 1938, famed geologist Max Steineke
By Tyler Losier, Energy Reporter, Oil & Gas 360 Newly-formed Desert Peak Minerals to be largest pure-play mineral royalty company in Delaware Basin Kimmeridge Energy Management Company, a private equity firm focused on acquiring unconventional oil and gas assets, has entered into a definitive agreement with Desert Royalty Company to combine the two companies’ assets to form Desert Peak Minerals.
Saltstone Capital Management Presses for Immediate Change at Abraxas Petroleum Corporation
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
Shortages of sand, pipelines, and manpower could jeopardize America’s future as an energy superpower At 10:30 p.m. on an 85F August night in Penwell, in West Texas, a 69-year-old repairman is hammering away at the frame of an 18-wheeler in the forecourt of an abandoned truck stop. The song Free Bird by Lynyrd Skynyrd blares from the radio. “I’m making
By Tyler Losier, Energy Reporter, Oil & Gas 360 Callon adds oil-weighted assets in the Permian and Eagle Ford through all-stock transaction Callon Petroleum Company (stock ticker: CPE), an independent E&P focused on unconventional assets in the Permian, has struck a deal with Houston-based Carrizo Oil & Gas (stock ticker: CRZO) to acquire the company in an all-stock transaction worth
From Bloomberg The promise of the Permian is shrinking. Producers in the nation’s oil-rich shale basins are dialing back growth plans in the face of a growing panoply of problems that’s killing returns and keeping skeptical investors at bay. The constraints are manifold: pipeline limits, reduced flow from wells drilled too close together, low natural gas prices and high land
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
By Tyler Losier, Energy Reporter, Oil & Gas 360 PowerPath technology will be utilized at 16 wells U.S. Well Services (stock ticker: USWS) has deployed its all-electric hydraulic fracturing Clean Fleet, powered by a technology it calls PowerPath, to the first of sixteen wells located in the Permian Basin on behalf of an unnamed E&P operator. PowerPath technology has the
From Bloomberg For companies that haul oil and natural gas, the next big thing may be dirty water, according to Jefferies Group LLC. As booming U.S. oil production unleashes a torrent of contaminated water that rises to the surface with crude, pipeline operators may be in the best position to harness those flows and expand into the water-handling business, said
By Tyler Losier, Energy Reporter, Oil & Gas 360 Wing Resources to sell assets for $145 million Tulsa, Oklahoma-based Alliance Resource Partners, L.P. (stock ticker: ARLP) has entered into a definitive agreement to acquire oil and gas mineral interests in the Permian Basin from Wing Resources LLC/Wing Resources II LLC for a cash purchase price of $145 million. The deal
