(Oil Price) – The world’s biggest private equity groups are investing in infrastructure assets of the national oil companies of the Middle East as Saudi Arabia and the United Arab Emirates (UAE) opened their pipeline networks to foreign capital. Private equity giants are now seeking a slice of the infrastructure assets of the international majors in deals that would give Big
(Oil Price) – UK energy company Low Carbon has raised as much as $1.45 billion (£1.1 billion) from CVC Capital Partners and other investors as private equity firms are increasingly backing renewables operations. CVC Capital Partners and Low Carbon’s existing shareholder Massachusetts Mutual Life Insurance Company participated in the funding, which will see CVC Capital Partners become the majority owner of
(Oil and Gas 360) – Energy Advisors released its 3Q A&D Special Report as a continuation of our thought leadership efforts. According to Brian Lidsky, Director of Energy Advisors, “following a volatile 2Q for oil & gas prices, 3Q stabilized with spot oil up 2% to $65.78 and spot gas dipping 2% to $3.03. P/E selling slowed to just 15% of deal value,
Nasdaq HOUSTON – U.S. oil and gas deals rebounded in the second quarter as private equity firms shed shale portfolio investments and publicly traded oil firms grabbed smaller rivals. U.S. oil exploration and production deals last quarter soared to $24 billion – nearly three times that of the first quarter, energy analytics firm Enverus disclosed on Tuesday. There were 20 deals
Reuters NEW YORK – U.S. private equity firm Arclight Capital Partners LLC, which invests the retirement savings of Maine teachers, NFL football players and Mayo Clinic doctors, lost hundreds of millions of dollars betting on a troubled Caribbean oil refinery, according to sources and documents reviewed by Reuters. Boston-based Arclight’s Energy Partners Fund VI, which held a majority stake in
Nasdaq April 13 – U.S. private equity firm Hellman & Friedman agreed to buy a majority stake in energy data and analytics provider Enverus from Genstar Capital, the companies said. The deal values Enverus at $4.25 billion including debt, according to a person familiar with the matter. Genstar Capital will retain an undisclosed stake in Enverus, which has grown rapidly
Forbes Bankruptcies abound in America’s oilpatch. So far this year 40 oil exploration and production companies have gone under, according to analysis from lawfirm Haynes & Boone, involving $54 billion in debt. The biggest failure so far, with $11.8 billion in debt remains Chesapeake Energy CHK +1.6%. More Chapter 11s are coming, says corporate restructuring attorney Ken Coleman at Allen & Overy, and “that’s
360 Feed Wire Houston, – Blackbuck Resources LLC (“BBR”), which designs, builds and operates water infrastructure, announced it has closed on a transaction to purchase Cimarex Energy Co.’s (“Cimarex”) Whites City water infrastructure in Eddy County, New Mexico. The acquired assets include approximately 65 miles of pipeline and 100,000 barrels per day of installed and permitted disposal capacity. As part
Reuters LONDON – Global energy trader Mercuria has teamed up with two private equity firms to set up a renewable energy fund in the United States, its chief executive told the FT Global Commodities Summit. “A few months ago, we joined forces with a private equity firm to invest in the renewables space in North America. It’s a $1.5 billion
360 Feed Wire L37 Leads $4M Round with Equinor Ventures and Saudi Aramco Energy Ventures Blockchain Network Powers Smart Contracts to Ensure Transactional Certainty for Commercial Relationships HOUSTON — September 24, 2020 — Data Gumbo, the trusted industrial blockchain network, today announced the first close in its Series B funding round of $4 million led by new investor L37, a
Reuters NEW YORK/BOSTON (Reuters) – Riverstone Holdings LLC, one of the oil and gas sector’s largest private equity investors, is planning a blank-check acquisition company that will buy a business in the clean energy industry, people familiar with the matter said on Thursday. The move illustrates how some private equity firms that have placed big bets on hydrocarbons, a sector
S&P Two private equity-backed blank-check companies filed for an IPO this week, the latest in a streak raised by the asset class. Technology-focused Vector Capital’s Vector Acquisition Corp. filed for an IPO of as much as $300 million, with upstream, midstream and oilfield services-focused Carnelian Energy Capital’s Peridot Acquisition Corp. also filing for an IPO of up to $300 million. CVC Capital Partners Ltd., Leonard Green & Partners LP and Bain Capital Pvt. Equity
