Private Equity – Page 9

Devon joins shale firms to cut spending as oil hovers at $30- oil and gas 360

Devon Energy, EnLink Midstream Team Up for $4 Billion Acquisition from Private Companies

December 7, 2015

CEO Hager: STACK is “the best emerging development play in North America” Devon’s STACK position has grown by more than 150,000 net acres in recent months Devon Energy (ticker: DVN) has secured the strongest foothold in the Cana-Woodford, pro forma for its $1.9 billion acquisition of Felix Energy LLC on December 7, 2015. Rumors of the impending cash-and-stock exchange were

Warburg Pincus Completes $12 Billion Private Equity Fund

November 25, 2015

Firm has invested $9 billion in energy thus far Warburg Pincus, a private equity firm with $40 billion under management in 120 companies, announced this week that it has successfully raised its latest fund. The new fund, called the Warburg Pincus Private Equity XII, L.P., received third party commitments in excess of its $12 billion hard cap, the company said

Private Equity Group Snatches Occidental’s Bakken Assets for $500 Million: Reuters

October 16, 2015

Reuters reports that Occidental Petroleum (ticker: OXY) is leaving the Williston Basin, announcing a $500 million sale with Lime Rock Resources for its 303,000 net acres. The deal, if finalized, equates to just $1,650 per net acre, roughly half of Capital One Securities’ estimated value of approximately $3,300 per net acre. Other agencies believed the region held roughly $3.0 billion

W&T Offshore Sells Permian Assets, Sets Sights on Gulf of Mexico

September 1, 2015

WTI Deals Permian Position for $376 Million to Private Equity Firm W&T Offshore (ticker: WTI), a Houston-based exploration and production company, has increased its focus on assets… offshore. On September 1, 2015, WTI divested the majority of its position in the Permian Basin to Ajax Resources, LLC, for gross pre-tax proceeds of $376.1 million. WTI retains an overriding royalty interest

Oil Prices Recover 2.2%, but Hold Near Multi-Month Lows

August 4, 2015

Weaker dollar helps oil prices find $46 West Texas Intermediate prices gained 2.2%, or $1, Tuesday after loses Monday, rising to $46.17 per barrel on the New York Mercantile Exchange. The recovery was boosted by a weaker dollar, making oil more affordable to holders of other currencies. Brent crude prices rose 1.5%, or $0.73, to $50.25 per barrel on the

Black Ridge Oil & Gas Secures Equity Joint Venture to Develop Williston Basin

July 23, 2015

Merced Capital Targets Initial Investment of $50 Million in Its First Oil and Gas Venture On July 23, 2015, Black Ridge Oil & Gas (ticker: ANFC), a Bakken/Three Forks E&P, announced a $50 million initial target investment from Merced Capital to form an entity that will acquire and develop Williston Basin non-operated assets. Black Ridge will receive a management fee and reimbursement

NGP Launches 11th Energy Private Equity Fund with $5.325 Billion

January 16, 2015

Cash is Flowing into North American Oil and Gas Industry: OAG360 Exclusive Interview with Ken Hersh “We operate with a very wide and blank canvas.” – Ken Hersh, CEO, NGP Energy Capital Management Raising capital to fund North American energy companies has been NGP Energy Capital Management’s bread and butter since Ken Hersh formed his firm’s first private capital energy

Intervale Capital CEO Charles Cherington on CNBC's Squawk Box

June 2, 2014

Private equity company Intervale Capital CEO Charles Cherington appeared on CNBC’s Squawk Box to discuss Intervale’s investment strategy when it comes to oilservice portfolio companies. He also addresses the current regulatory environment and future for fracing in the United States. Important disclosures: The information provided herein is believed to be reliable; however, EnerCom, Inc. makes no representation or warranty as

Emerald Oil: Capital to Finance Ongoing Transformation

February 5, 2013

Emerald Oil, Inc. (ticker: EOX) is a new Oil & Gas 360® profiled company. For readers not familiar with EOX, this oil weighted producer is an exploration and production company focused primarily on the development of its 51,000 net acre position in the Williston Basin of North Dakota and Montana. They are currently transitioning from a non-operated model to an

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