Capital News

Martin Midstream's revolving credit facility reaches $400M

Wed, 16 May 2012 16:48:00 GMT

Martin Midstream Partners LP announced May 10 that it has increased the size of its revolving credit facility to $400,000,000. This represents an increase of $25,000,000 as it has added ABN AMRO Capital USA LLC to its syndicate of lenders. The revolving credit facility is the partnership’s primary source of liquidity and matures April 15, 2016.

El Salvador plans geothermal training center with IDB grant

Tue, 15 May 2012 21:19:00 GMT

The National Energy Board of El Salvador will establish a geothermal training center thanks to a $2 million grant from the Inter-American Development Bank.

Avista Capital to acquire Top-Co

Mon, 14 May 2012 18:13:00 GMT

Private equity firm Avista Capital Partners announced today it has signed a definitive agreement to acquire Top-Co Inc., a privately-held, designer and manufacturer of specialized casing cementing products used in the drilling and completion of oil, natural gas and geothermal wells. Terms of the transaction, which is expected to close in the second quarter of 2012, were not disclosed.

LEIF: Venture capital investment in water technology bubbling up

Fri, 11 May 2012 21:18:00 GMT

A report released today by the London Environmental Investment Forum reveals increasing venture capital investment activity in companies that are providing innovative water solutions to the oil and gas and mining industries.

Ex-Im to finance $2.95B in US exports for Australia LNG project

Thu, 10 May 2012 15:52:00 GMT

The Export-Import Bank of the United States has authorized a $2.95 billion direct loan to support US exports to the Australia Pacific liquefied natural gas (LNG) project. The transaction is Ex-Im’s second-largest single-project financing in history and is also the Bank’s first LNG project in Australia.

Environmental Drilling Solutions receives investment backing

Wed, 09 May 2012 21:01:00 GMT

Environmental Drilling Solutions, LLC, a provider of solids control, cuttings processing and zero discharge services, has received a growth equity investment from Element Partners and CSL Capital Management.

Dahlman Rose announces follow-on investment

Fri, 27 Apr 2012 19:03:00 GMT

Dahlman Rose & Co., LLC announced today that its parent company has entered into a definitive agreement to sell an additional $10 million of equity to affiliates of Lovell Minnick Partners LLC, a private equity firm that specializes in the global financial services industry.

Kinder Morgan to purchase 50% interest in natural gas JV

Thu, 26 Apr 2012 19:51:00 GMT

Kinder Morgan Energy Partners, LP, announced April 25 that it has signed a definitive agreement with an investment vehicle affiliated with Kohlberg Kravis Roberts & Co. LP, whereby KMP will purchase from KKR its 50 percent interest in the joint venture that owns the Altamont gathering, processing and treating assets (Uinta Basin in Utah) and the Camino Real Gathering System (Eagle Ford shale in Texas) for $300 million in KMP common units.

Valle Silencioso acquires shares from 4D Global Energy

Wed, 25 Apr 2012 18:52:00 GMT

Argentina-based Valle Silencioso SA, a company managed by Sophia Capital, has acquired 50% of the outstanding shares of SO-4 Ltd. from 4D Global Energy Investments Plc.

Toyota Tsusho invests heavily in Alberta CBM play

Sat, 21 Apr 2012 20:11:00 GMT

Calgary-based Encana Corporation (TSX, NYSE: ECA) has reached an agreement with Toyota Tsusho Wheatland Inc., a subsidiary of Toyota Tsusho Corporation, that will see the Japanese company invest approximately C$602 million (US$608 million) to acquire a 32.5% royalty interest in natural gas production from a portion of Encana’s coalbed methane (CBM) resource play.

Post Oak Energy Capital leads $60M capital commitment

Fri, 20 Apr 2012 21:28:00 GMT

Post Oak Energy Capital, LP, through investment partnerships it manages and in partnership with Wells Fargo Energy Capital and funds and accounts under management by BlackRock, has led a $60 million equity commitment to Crown Oil Partners IV, LP.

Prudential Capital expands financing capabilities with Dallas group

Thu, 19 Apr 2012 18:56:00 GMT

Prudential Capital Group has created the Dallas-based Energy Finance Group to provide expanded financing capabilities to the energy sectors of oil and gas, utility and power.

Volcker Rule pushed back until at least 2014

Thu, 19 Apr 2012 18:27:00 GMT

The largest US banks will have until July 21, 2014 to fully conform to the Volcker Rule, which is regulation aimed at restricting speculative trading by banks with their own money, bank regulators said April 19.

Scotiabank closes deal to acquire Howard Weil Inc

Wed, 18 Apr 2012 22:50:00 GMT

Toronto-based Scotiabank said April 18 that it has closed the acquisition by Scotia Capital Inc. of Howard Weil Incorporated, a US energy investment boutique with major offices in New Orleans and Houston. Terms of the transaction were not disclosed.

Pricey crude supports oil industry stability

Wed, 18 Apr 2012 21:30:00 GMT

High oil prices continue to support stable credit quality for US exploration and production (E&P) companies this year, according to Standard & Poor’s.

Magnum Hunter Resources to acquire Williston Basin properties

Wed, 18 Apr 2012 21:03:00 GMT

Magnum Hunter Resources Corp. announced today that its wholly-owned subsidiary, Bakken Hunter, LLC, has entered into a definitive purchase agreement to acquire certain Williston Basin oil and gas properties from an affiliate of Baytex Energy Corp. for $311 million in cash.

OFS Energy Fund recapitalizes Vision Oil Tools

Fri, 13 Apr 2012 23:27:00 GMT

On April 5, OFS Energy fund completed a majority recapitalization of Vision Oil Tools LLC, a Wyoming and North Dakota-based oilfield rental tool and fishing services provider.

OFS Energy Fund invests in Buckhorn Energy Services

Fri, 13 Apr 2012 20:44:00 GMT

Houston-based OFS Energy Fund II has completed a growth equity investment in Buckhorn Energy Services LLC, a recently formed provider of oilfield waste disposal in North Dakota.

MRC Global prices initial public offering

Fri, 13 Apr 2012 15:13:00 GMT

MRC Global Inc. announced April 11 that it has priced its initial public offering of 22,727,273 shares of common stock at $21.00 per share.

Dodd-Frank implications topic of Midstream Breakfast

Wed, 11 Apr 2012 18:34:00 GMT

Whether the oil and gas industry is prepared for new financial controls the Dodd-Frank Act will impose as soon as mid-July will be the topic of UHY Advisors’ quarterly Midstream Breakfast on Thursday, April 19, in Houston.

Chesapeake monetizes assets in 3 plays

Mon, 09 Apr 2012 21:00:00 GMT

_On April 9 Oklahoma City-based Chesapeake Energy Corporation (NYSE:CHK) announced three oil and gas asset monetization transactions for total proceeds of approximately $2.6 billion in cash.

Sterling Partners completes majority investment in Desert NDT

Thu, 05 Apr 2012 20:00:00 GMT

Desert Industrial X-Ray, LP, an independent, privately held non-destructive testing (NDT) company, has received a majority investment from Sterling Partners, a Chicago-based private equity firm with approximately $5 billion in assets under management.

Heckmann prices $250M senior notes due 2018

Thu, 05 Apr 2012 16:03:00 GMT

Pittsburgh-based Heckmann Corporation said April 5 that it has priced its previously announced offering of $250 million in aggregate principal amount of 9.875% senior notes due 2018 to be sold in a private placement to qualified institutional buyers within the United States and to non-US persons outside of the United States.

Apache raises $3B in debt to help fund Cordillera acquisition

Wed, 04 Apr 2012 18:36:00 GMT

Houston-based Apache Corp. priced $3 billion in aggregate principal amount of notes in a public offering to help fund its $2.85 billion purchase of Cordillera Energy Partners III LLC.

Denham Capital closes $3B energy, resources-focused private equity fund

Tue, 03 Apr 2012 14:57:00 GMT

Denham Capital Management LP, an energy and resources-focused global private equity firm, has closed its sixth fund, Denham Commodity Partners Fund VI LP.

Volcker Rule will impact US energy industry

Wed, 28 Mar 2012 20:01:00 GMT

How will the Volcker Rule affect oil and gas companies? The Volcker rule is a specific section of the Dodd-Frank Wall Street Reform & Consumer Protection Act intended to restrict certain kinds of speculative investments that do not benefit their customers.

Investors file lawsuit against CARBO Ceramics

Tue, 27 Mar 2012 21:39:00 GMT

A class-action lawsuit has been filed against Houston-based CARBO Ceramics (NYSE: CRR) on behalf of investors who bought the company’s stock between Oct. 27, 2011, and Jan. 26, 20-12.

ExxonMobil making massive energy investment

Thu, 08 Mar 2012 17:01:00 GMT

Insight Venture Partners leads $165M investment in Drilling Info

Wed, 07 Mar 2012 15:45:00 GMT

Drilling Info said March 5 that Insight Venture Partners is leading a $165 million equity investment in Drilling Info, the Austin-based data intelligence provider to the oil and gas industries.

KKR, Chesapeake enter financing arrangement for oil, gas investment

Tue, 06 Mar 2012 18:29:00 GMT

Private equity firm Kohlberg Kravis Roberts & Co. LP (KKR) and Chesapeake Energy Corp. have formed a partnership to invest in mineral interests and overriding royalty interests in oil and gas basins in the United States.

Wells Fargo to acquire North American energy lending business of BNP Paribas

Tue, 21 Feb 2012 22:02:00 GMT

Wells Fargo Bank, part of Wells Fargo & Company, has entered into a definitive agreement to acquire the North American reserve- based and related diversified energy lending business of BNP Paribas.

CME Group, Oman Investment Fund to increase investments in DME

Tue, 21 Feb 2012 20:29:00 GMT

Derivatives marketplace CME Group, and Oman Investment Fund, a sovereign wealth fund of the Sultanate of Oman plan to increase their investments in the Dubai Mercantile Exchange to enable it to continue growing its business.

Magnum Hunter gains expanded senior bank credit facility

Wed, 15 Feb 2012 16:20:00 GMT

Houston-based Magnum Hunter Resources Corp. announced that the company’s borrowing base under its $350 million Senior Bank Facility, which consists of a $250 million senior revolving credit facility and a $100 million Term Loan Facility, has been increased by $35 million from $200 million to $235 million.

Voyager to use new credit facility to pay debt, accelerate Williston Basin activities

Mon, 13 Feb 2012 19:19:00 GMT

Billings, MT-based Voyager Oil & Gas has entered into a new $150 million credit facility with Macquarie Bank Ltd.

Chesapeake Energy targets $10-$12B in asset monetizations

Mon, 13 Feb 2012 18:06:00 GMT

Chesapeake Energy Corp. provided details on its financial plan to fully fund the company’s anticipated capital expenditures during 2012 and provide additional liquidity for 2013.

APICORP raises SAR 2.5 billion in Shari'ah-compliant syndicated club financing

Mon, 13 Feb 2012 17:16:00 GMT

Arab Petroleum Investments Corp., the multilateral development bank of the ten member states of the Organization of Arab Petroleum Exporting Countries, has closed a three-year SAR 2.5 billion (US$667 million) syndicated Shari’ah-compliant facility from four Saudi Arabian banks.

Quicksilver Resources files $250M IPO to reduce debt

Fri, 10 Feb 2012 17:27:00 GMT

Quicksilver Production Partners LP, a wholly-owned subsidiary of Quicksilver Resources Inc., filed a registration statement February 10, 2012, on Form S-1 with the US SEC related to the proposed IPO of common units representing limited partner interests.

JV agreements played key role in 2011 E&P funding

Wed, 08 Feb 2012 23:10:00 GMT

Following a rise in popularity in the oil and gas upstream sector in 2010, joint venture agreements played a dominant role as a source of low cost funding in 2011—with unconventional resources drawing the most attention, noted analyst at Stifel Nicolaus.

Quantum Energy Partners forms Renaissance to acquire offshore oil, gas properties

Tue, 07 Feb 2012 16:28:00 GMT

Houston-based private equity firm Quantum Energy Partners has once again formed a company to acquire US oil and gas properties, reports Bloomberg. Only this time, the newly-formed company will focus on offshore US oil fields.

DA Davidson & Co. acquires McGladrey Capital Markets

Mon, 06 Feb 2012 16:09:00 GMT

D.A. Davidson & Co., a national full-service investment firm based in the Northwest, has acquired McGladrey Capital Markets LLC (MCM), an investment banking firm headquartered in Costa Mesa, California.

New energy private equity firm Stellus Capital Management spins off from DE Shaw

Wed, 25 Jan 2012 15:59:00 GMT

Private investment firm Stellus Capital Management has completed its spin off from the D. E. Shaw Group. The Houston-based former direct investment unit of D.E. Shaw will continue its focus on making equity and debt investments in North American energy companies, particularly in upstream oil and gas businesses.

India’s Reliance may buy El Paso E&P unit

Mon, 09 Jan 2012 16:50:00 GMT

Reliance Industries Ltd., one of the largest companies in India, and Apollo Global Management LLC, a New York-based private equity firm, are looking to buy El Paso Corporation’s (NYSE: EP) oil and gas exploration and production business unit. As ranked by assets, El Paso is the 11^th largest US oil and gas producer, according to the OGJ150 Quarterly Report.

JV streak continues as Chesapeake completes US$2.32B Utica Shale deal with Total

Wed, 04 Jan 2012 21:00:00 GMT

Building on its existing relationship with French oil major Total, Chesapeake Energy Corp. completed yet another joint venture to continue its progress developing unconventional resources—this time in the Ohio portion of the Utica Shale play.

Northstar Offshore sells GOM shelf assets to Korean Group for US201 million

Thu, 29 Dec 2011 16:25:00 GMT

Northstar Offshore Energy Partners LLC (NOEP) – a portfolio company of Natural Gas Partners (NGP) – said Dec. 29 that it has sold substantially all of its asset holdings to ANKOR E&P Holdings Corporation, STX Energy E&P Offshore Management LLC, and SCL Resources LLC for $201 million.

Petrobras chooses BNY Mellon as new ADR depositary bank

Thu, 29 Dec 2011 16:02:00 GMT

Brazilian oil giant Petrobras reports that Bank of New York Mellon was chosen to represent the company’s American Depositary Receipt (ADR) program after bidding. ADRs are negotiable securities in the US that represent one or more shares of a foreign company.

Flotek Industries to repurchase senior notes

Wed, 28 Dec 2011 19:28:00 GMT

Houston-based Flotek Industries Inc. (NYSE: FTK) announced Dec. 28 that it has entered into a repurchase agreement with the holders of the company’s 5.25% senior secured convertible notes due in 2028.

George W Bush to speak at NAPE Expo

Wed, 28 Dec 2011 16:50:00 GMT

Former President George W. Bush has been announced as the keynote speaker at the NAPE Charities Industry Luncheon, Feb. 23, at the George R. Brown Convention Center in Houston.

Sanchez prices IPO at $203M

Wed, 14 Dec 2011 16:30:00 GMT

Sanchez Energy Corp. has priced its initial public offering of 10,000,000 shares of its common stock at $22.00 per share for net proceeds, after underwriting discounts and commissions and estimated offering expenses, of approximately $203 million.

Rosetta Resources to allocate $590M of $640M 2012 budget to Eagle Ford activities

Mon, 12 Dec 2011 17:21:00 GMT

Rosetta Resources Inc. has just announced the approval of its 2012 capital budget of $640 million which includes approximately $590 million allocated for activities in the liquids-rich window of the Eagle Ford shale in South Texas.

Magnum Hunter Resources sees expanded senior bank credit facility

Wed, 07 Dec 2011 14:53:00 GMT

Magnum Hunter Resources Corp. has seen its borrowing base under its $350 million Senior Bank Facilities, which consist of a $250 million Senior Revolving Credit Facility and a $100 million Term Loan Facility, increased by $32.5 million from $167.5 million to $200 million.

Slated for Utica drilling, Chesapeake closes additional $750M in funding

Mon, 05 Dec 2011 15:47:00 GMT

Chesapeake Energy Corp. has closed $1.25 billion of perpetual preferred shares of its wholly owned, unrestricted subsidiary, CHK Utica LLC.

Eagle Ford focused Sanchez Energy commences IPO

Mon, 05 Dec 2011 15:33:00 GMT

Sanchez Energy Corp., an independent exploration and production company focused on the Eagle Ford Shale in South Texas, has commenced an initial public offering of 10,000,000 shares of its common stock.

DJ Basin focused Synergy Resources receives $15M revolving line of credit

Mon, 05 Dec 2011 15:00:00 GMT

Colorado-based Synergy Resources Corp. has increased its $7 million revolving line to a $15 million revolving line of credit with Bank of Choice.

Gulfport plans equity offering to fund Ohio Utica Shale development

Tue, 29 Nov 2011 17:02:00 GMT

To help fund its Utica Shale drilling and development plan, Gulfport Energy Corp. has announced plans to offer five million shares to the public, of which four million will be new shares and one million will be offered by an individual stockholder.

Ecopetrol marks $8.48B for 2012 CAPEX

Wed, 23 Nov 2011 19:02:00 GMT

Ecopetrol reported its approved investment plan for the year 2012 and the update of the strategic plan for the Corporate Group for the 2012-2020 period.

UT Investment Management commits $200M with Post Oak Energy Capital

Thu, 17 Nov 2011 18:05:30 GMT

Post Oak Energy Capital LP has received a $200 million commitment from The University of Texas Investment Management Company in its role as investment manager for the benefit of the University of Texas and Texas A&M University Systems.

TPG Capital forms new venture to acquire onshore natural gas producing properties

Wed, 09 Nov 2011 16:40:50 GMT

TPG Capital has partnered with Dan Allen Hughes Jr. and Thomas M. Hart III to form a new venture, Maverick American Natural Gas, to acquire and operate conventional natural gas producing properties in North America.

Mediterranean O&G enters short term secured loan

Tue, 08 Nov 2011 23:15:00 GMT

Mediterranean O&G has entered into a short term secured loan with affiliates of certain of its substantial shareholders, namely affiliated investment funds of Och-Ziff Capital Management Group, for up to €3.5million.

W&T Offshore gets increase in borrowing base under revolving credit facility

Wed, 26 Oct 2011 15:00:40 GMT

W&T Offshore Inc. said October 24 that it has received an increase in the borrowing base under its revolving credit facility from $537.5 million to $575 million.

STW Resources Holding, CK Investments Energy form JV to treat brackish/produced water sources

Fri, 14 Oct 2011 15:50:00 GMT

STW Resources Holding Corp. has executed a joint venture agreement with CK Investments Energy Co. to commission a proprietary brackish/produced water processing facility in the Permian and Delaware Basins of West Texas.

Germany's KfW bank invests US$130 billion in renewable energy

Fri, 14 Oct 2011 14:50:20 GMT

Germany’s federally-owned KfW banking group is facilitating renewable energy and energy efficiency investments in Germany with EUR 100 billion (over US$130 billion) over the next five years.

PRE Resources, GE Energy Financial partner to buy Rocky Mountain reserves

Thu, 13 Oct 2011 19:30:20 GMT

PRE Resources Inc. is teaming up with GE Energy Financial Services to buy more than 100 producing wells and undeveloped acreage across 29 fields in Wyoming and Colorado.

Saratoga Resources finds Louisiana offers abundant low-risk opportunities

Sat, 01 Oct 2011 05:00:00 GMT

AN INTERVIEW WITH THOMAS COOKE, CHAIRMAN AND CEO, AND ANDY CLIFFORD, PRESIDENT, OF SARATOGA RESOURCES

Unearthing assets: Investigators locate mineral rights owners

Sat, 01 Oct 2011 05:00:00 GMT

Exploration. Digging. Unearthing. Discovery. While these are all methods common to professionals in the oil and gas industry, they are also used by asset recovery firms to locate missing heirs and beneficiaries and to find mineral rights owners who may be unaware they are being sought.

Magnum Hunter Resources closes expanded senior credit facilities

Thu, 29 Sep 2011 16:25:00 GMT

Magnum Hunter Resources Corp. has closed on the previously announced expansion of its Senior Bank Credit Facilities in the amount of $267.5 million.

Bill Barrett announces upsizing, pricing of offering of $400M of senior notes

Wed, 21 Sep 2011 15:45:00 GMT

Bill Barrett Corp. has priced its $400 million aggregate principal amount of 7 5/8% Senior Notes due 2019.

Bill Barrett to offer $300M of senior notes

Tue, 20 Sep 2011 14:55:50 GMT

Forbes Energy Services enters into $75M revolving credit facility with Regions Bank

Wed, 14 Sep 2011 18:25:10 GMT

Independent oilfield services contractor Forbes Energy Services Ltd. has, with certain of its subsidiaries, entered into a five year asset based revolving credit facility with Regions Bank and certain other lenders, which is secured by substantially all of the company's assets.

MarkWest gets expanded, extended credit facility

Mon, 12 Sep 2011 19:10:10 GMT

MarkWest Energy Partners LP has announced the expansion and extension of its senior secured revolving credit facility with a syndicate of banks led by Wells Fargo Securities, LLC and RBC Capital Markets as joint lead arrangers and joint lead bookrunners.

S&P says Obama's call for a national infrastructure bank has wide support

Fri, 09 Sep 2011 20:00:20 GMT

In a speech to a joint session of Congress on Sept. 8, President Obama called for the creation of an independent fund to attract private capital and issue loans as a way to stimulate the economy and create jobs, according to a report from Standard & Poor’s Ratings Services titled “A National Infrastructure Bank Could Support Investment-Grade US Project Finance Ratings.”

Barclays Corporate oil, gas team exceeds 2010 total for global energy deals

Tue, 06 Sep 2011 15:50:50 GMT

Barclays Corporate oil and gas team announces it has provided funding for global energy deals amounting to US$1.26 billion so far this year.

Five States Energy Capital puts up $85M financing for Bakken Shale producer

Thu, 01 Sep 2011 22:10:20 GMT

Five States Energy Capital LLC has closed $85 million in financing for a Bakken Shale producer.

Mutual of Omaha Bank forms energy lending group

Thu, 01 Sep 2011 05:00:00 GMT

As a full-service bank with more than $5 billion in assets, Mutual of Omaha Bank provides financial solutions to individuals and businesses in communities across the US.

Venoco receives 'Going Private' proposal from CEO

Mon, 29 Aug 2011 19:15:40 GMT

The board of directors of Venoco Inc. said Aug. 29 that it has received a non-binding proposal from Timothy M. Marquez, chairman and CEO of the company, to take the company private by acquiring all of the company’s outstanding shares of common stock for $12.50 per share in cash. But is it enough?

Spectraseis wins $3.6 million investment from Credit Suisse

Fri, 19 Aug 2011 22:20:10 GMT

Geosciences firm Spectraseis has received new investment funding of US $3.6 million from SVC-Ltd., a fully-owned subsidiary of Credit Suisse Group.

Quantum Energy Partners creates Bluestem Energy with Jack Hightower

Fri, 19 Aug 2011 21:26:00 GMT

Houston-based private equity firm Quantum Energy Partners has formed Bluestem Energy with industry veteran Jack Hightower as its chairman, president, and CEO.

Morgan Stanley Private Equity, Sterling Energy form partnership

Thu, 11 Aug 2011 18:35:10 GMT

Morgan Stanley Private Equity and Sterling Energy Co. have entered into a strategic partnership whereby Morgan Stanley Private Equity has made a majority equity investment in a newly formed company called Sterling Investment Holdings LLC to support the growth of Sterling Energy’s midstream business in Colorado and North Dakota.

Denham Capital invests $200M in Tradition to target midstream infrastructure need

Wed, 27 Jul 2011 20:20:50 GMT

Energy capital boosts Marcellus Shale midstream infrastructure expansion for Caiman

Wed, 27 Jul 2011 19:25:50 GMT

Caiman Energy LLC, an EnCap Flatrock Midstream portfolio company, has completed the second of two recent financings adding more than $1 billion to help fund its planned expansion of midstream infrastructure in the Marcellus Shale.

Saratoga to list common stock on NYSE Amex

Tue, 19 Jul 2011 18:10:40 GMT

Independent exploration and production company Saratoga Resources Inc. has been approved to list common stock on the NYSE Amex stock exchange.

Dynamic Offshore credits significant GoM growth for new $750M credit facility

Fri, 08 Jul 2011 16:35:00 GMT

Dynamic Offshore Resources LLC has entered into a new four-year, $750 million senior secured credit facility on July 7 with a syndicate of ten banks led by The Royal Bank of Scotland plc.

BPZ Energy enters new $75M debt facility

Thu, 07 Jul 2011 21:35:50 GMT

BPZ Energy has entered into a $75 million senior secured debt financing with Credit Suisse AG Cayman Islands Branch, as Administrative Agent, and a syndicate of lenders.

Mutual of Omaha forms Energy Lending Group

Wed, 06 Jul 2011 15:55:00 GMT

Mutual of Omaha Bank has hired two senior energy lenders and formed a new Houston-based energy lending group to begin deploying capital in the oil and gas industry.

Pioneer Drilling credit facility increased to $250M

Wed, 06 Jul 2011 15:00:00 GMT

Pioneer Drilling Co. Inc. has entered into an amendment and restatement of its existing credit agreement that provides the land drilling services provider with a $250 million, five-year, senior secured revolving credit facility.

Pine Brook names Aube managing director

Wed, 29 Jun 2011 15:05:40 GMT

Pine Brook, a New York-based private equity firm that focuses on the energy and financial services industries, has named Richard Aube as a managing director.

API: Study finds oil, gas assets strong public pension performers

Wed, 29 Jun 2011 11:00:10 GMT

Oil and gas stocks in 17 US states' public pension funds had returns which were 3.4 times their share of total assets from 2005 through 2009, a study commissioned by the American Petroleum Institute showed.

ATP makes $150M preferred stock offering

Wed, 15 Jun 2011 16:05:30 GMT

ATP Oil & Gas Corp. has announced a public offering of approximately $150 million of perpetual preferred stock.

Gastar Exploration revisits capital markets with public stock offering

Wed, 15 Jun 2011 16:05:20 GMT

Gastar Exploration USA Inc. is commencing an underwritten public offering of 600,000 shares of perpetual and non-convertible 8.625% Series A Cumulative Preferred Stock.

Newly formed Crossroads Energy Partners closes debt, equity financings

Wed, 15 Jun 2011 15:25:00 GMT

Crossroads Energy LP recently contributed substantially all of its assets and liabilities into Crossroads Energy Partners LLC. In conjunction, Crossroads obtained financing from D.E. Shaw Direct Capital Portfolios LLC.

Former BP CEO Hayward jumps back into energy biz with $1.6B IPO

Thu, 09 Jun 2011 14:40:20 GMT

Former BP plc CEO Tony Hayward plans to get back into the energy business with plans for a $1.6 billion IPO.

Endeavour to offer $250M senior notes in private placement

Tue, 07 Jun 2011 15:10:00 GMT

Endeavour International Corp. intends to offer $250 million of Senior Notes due 2016 in a private placement.

W&T Offshore launches private offering of senior notes

Fri, 27 May 2011 14:00:00 GMT

W&T Offshore Inc. has launched a private offering of $600 million aggregate principal amount of senior notes due 2019.

Regency Energy Partners to make $500M Senior Notes offering

Mon, 23 May 2011 16:00:00 GMT

Dallas-based Regency Energy Partners LP has announced a public offering of $500 million of its Senior Notes due 2021.

Oil States International to offer $600M of Senior Unsecured Notes

Thu, 19 May 2011 14:05:10 GMT

Oilfield services company Oil States International Inc. intends to offer $600 million in aggregate principal amount of senior unsecured notes due 2019 in a private placement to eligible purchasers.

Petrohawk Energy launches $600M senior notes offering

Tue, 17 May 2011 15:00:00 GMT

Houston-basded Petrohawk Energy Corp. has launched a private offering of $600 million aggregate principal amount of senior notes due 2019.

Kosmos Energy prices IPO shares

Wed, 11 May 2011 16:00:50 GMT

Kosmos Energy Ltd. has priced its initial public offering of 33 million common shares at $18.00 per share.

LINN Energy makes $750M senior notes offering to help fund acquisition

Mon, 09 May 2011 20:20:30 GMT

LINN Energy LLC and its subsidiary, Linn Energy Finance Corp., will begin a private offering to eligible purchasers of $750 million of senior unsecured notes due 2019.

First Reserve broadens energy reach with close of $1.3B infrastructure fund

Thu, 05 May 2011 19:10:00 GMT

First Reserve Corp., a global private investment firm with a single focus in the energy and natural resource industries, has closed its latest fund, First Reserve Energy Infrastructure Fund LP .

Saratoga Resources announces offering of senior secured notes

Tue, 03 May 2011 18:30:30 GMT

Houston-based Saratoga Resources Inc. said May 3 that it plans to offer, subject to market and other conditions, up to $150 million of first lien senior secured notes.

Bridging valuation gaps for undeveloped and unproven reserves

Sun, 01 May 2011 05:00:00 GMT

Valuations of petroleum reserves can often be relatively straightforward. The petroleum industry was one of the first major industries to widely adopt the discounted cash flow (DCF) method to value assets and projects — in particular oil and gas reserves.

BDT Capital Partners buys stake in energy investment bank Tudor Pickering

Thu, 28 Apr 2011 19:30:50 GMT

BDT Capital Partners and former Murphy Oil CEO Claiborne Deming have invested an aggregate of $110 million in Houston-based energy investment and merchant banking firm Tudor, Pickering, Holt & Co.

Nabors Industries enters $550M credit facility

Thu, 21 Apr 2011 16:15:30 GMT

Oil and gas driller Nabors Industries Ltd. has entered into a new $550 million unsecured revolving credit facility.

Secured by newly acquired assets, Magnum Hunter closes on new $250M credit facility

Thu, 14 Apr 2011 15:45:40 GMT

Recently strengthened by assets acquired in various transactions, Magnum Hunter Resources Corp. has closed on its new, previously-announced revolving credit facility with BMO Capital Markets.

Covington advises SandRidge Energy on royalty trust public offering

Wed, 13 Apr 2011 14:35:50 GMT

SandRidge Mississippian Trust I has announced the closing of its public offering of 17.25 million common units of beneficial interest, at a price per unit of $21.00. The 17.25 million units represent an approximately 62% beneficial interest in the Trust.

Private equity fund-raising rebounds in US and Europe

Mon, 11 Apr 2011 15:05:30 GMT

Driven by a small number of funds that held large closes, US and European private equity fund-raising rebounded in 2011.

Sweden's PA Resources issues five-year bond loan

Thu, 31 Mar 2011 14:55:50 GMT

The oil and gas company PA Resources AB has issued a five year, unsecured bond loan of NOK 900 million (US$161 million). The company’s headquarters are in Stockholm.

SandRidge launches IPO

Wed, 30 Mar 2011 16:00:00 GMT

SandRidge Mississippian Trust I, formed by SandRidge Energy Inc., has launched an initial public offering (IPO) of 12.5 million common units, representing an approximately 45% beneficial interest in the trust, including 1.875 million common units that may be purchased at the option of the underwriters.

APICORP partners with IFC to co-finance Arab-owned energy projects in developing countries

Mon, 28 Mar 2011 22:36:00 GMT

In a move that widens its role as a multilateral development bank, the Arab Petroleum Investments Corporation (APICORP) said March 28 that it has signed the Accession Agreement to the International Finance Corporation’s (IF) Master Cooperation Agreement (MCA).

BB&T hires energy lending group

Wed, 09 Mar 2011 15:55:50 GMT

BB&T has hired a six-member energy lending team based in Houston, Texas, to focus on oil and gas production and midstream companies.

Clayton Williams plans $300M senior notes offering

Mon, 07 Mar 2011 18:05:30 GMT

Independent exploration and production company Clayton Williams Energy Inc. has announced plans for a $300 million senior notes offering due 2019.

LUKOIL fights cash flow, declining production as it signs gas supply agreement with Gazprom

Fri, 04 Mar 2011 19:00:10 GMT

OAO LUKOIL, Russia’s largest oil company, and OAO Gazprom signed a gas supply agreement under which gas will be supplied from LUKOIL’s fields in the Bolshekhetskaya Depression, the Yamalo-Nenets Autonomous District and from the north of the Caspian Sea.

SandRidge Energy's $900M offering could increase liquidity by $192M

Fri, 04 Mar 2011 16:25:50 GMT

Oklahoma City-based SandRidge Energy Inc. increased its previously announced private placement offering of Senior Notes from $700 million to $900 million, potentially increasing the company’s liquidity by approximately $192 million.

Continental Resources issues new equity, further accelerates 2011 production growth

Wed, 02 Mar 2011 17:05:20 GMT

Continental Resources Inc. has set a new capital expenditures budget for 2011 heavily weighted with Bakken Shale plans, altered its guidance, and launched a public offering.

CIT to redeem additional $500 million of 2013 Series A Notes

Tue, 01 Mar 2011 15:40:10 GMT

CIT Group Inc. , a provider of financing to small businesses and middle market companies, will redeem an additional $500 million of its 7% Series A Second Lien Notes maturing in 2013.

How to commercialize new technology

Tue, 01 Mar 2011 06:00:00 GMT

If you've ever had an idea for a great new invention for the oil industry but wondered how to get the financial backing you need to produce and market it, you should have been in Houston on Feb. 9.

Chesapeake Energy prices $1 billion public offering to aid debt reduction

Wed, 09 Feb 2011 15:55:40 GMT

As part of its 2011 liability management program to reduce debt, Chesapeake Energy Corp. has priced its previously announced public offering of $1.0 billion principal amount of Senior Notes.

Private placement to partially fund Bakken, Niobrara ops for Voyager

Tue, 08 Feb 2011 16:10:10 GMT

Voyager Oil & Gas has closed on its previously announced private placement for gross proceeds of $50 million.

Kinder Morgan plans $2.2 billion IPO

Fri, 04 Feb 2011 16:00:00 GMT

Kinder Morgan Holdco LLC, the parent company of Kinder Morgan has started an initial public offering (IPO) of 80,000,000 shares and is expected to raise nearly $2.2 billion.

BPZ Energy sets $50M capital expenditures plan for 2011

Wed, 02 Feb 2011 16:20:40 GMT

BPZ Resources Inc. has set its 2011 capital expenditures plan at roughly $50 million. The company plans continued development of its assets in northwest Peru.

EnCap raises $3.5B private equity fund for capital to upstream oil, gas sector

Mon, 31 Jan 2011 21:25:50 GMT

EnCap Investments LP, an oil and gas private equity firm with offices in Houston and Dallas, has closed EnCap Energy Capital Fund VIII LP, with $3.5 billion of limited partner capital commitments.

Energy private equity firm Pine Brook Road Partners promotes Levin to VP

Fri, 28 Jan 2011 15:45:10 GMT

Pine Brook Road Partners LLC, a New York-based private equity firm focused on energy and financial services businesses, has named Gary Levin vice president.

Petrobras issues US$6B in Global Notes

Thu, 27 Jan 2011 22:25:10 GMT

Petrobras has concluded a US$6 billion issuance of 5, 10, and 30 year notes in the international capital markets.

BPZ Energy closes $40M secured debt financing

Thu, 27 Jan 2011 22:15:10 GMT

BPZ Resources Inc. and its subsidiaries have closed a $40 million secured debt financing with Credit Suisse AG.

PFC Energy rankings: ExxonMobil regains top spot, Petrobras climbs to No. 3

Mon, 24 Jan 2011 22:40:20 GMT

On Jan. 24, PFC Energy, an advisor and consultant to the global energy industry, released its rankings of the 50 largest energy companies based on market capitalization, and ExxonMobil took the No. 1 position on the list after falling behind PetroChina last year.

Merriman Capital sponsors Primary Petroleum on OTCQX

Mon, 24 Jan 2011 22:30:10 GMT

San Francisco-based Merriman Capital Inc., a wholly owned subsidiary of Merriman Holdings Inc., said Jan. 24 that it will serve as the Principal American Liaison (PAL) for Primary Petroleum Corporation as it lists on the OTCQX marketplace.

Merriman Capital sponsors Primary Petroleum on OTCQX

Mon, 24 Jan 2011 22:20:30 GMT

Laredo Petroleum sells $350M of senior notes

Mon, 24 Jan 2011 17:00:50 GMT

Independent oil and gas company Laredo Petroleum Inc. has sold $350 million of senior unsecured notes to eligible purchasers in the private placement market.

Financing in the wake of SemGroup

Mon, 24 Jan 2011 06:05:30 GMT

SemGroup LP, a highly-leveraged oil and gas transporter and marketer that purchased oil and gas at the wellhead, was the 18th largest private company in the nation when it filed for bankruptcy in 2008. Since then, the availability of cost-effective, asset-based financing for other First Purchasers has become increasingly limited.

XOG LLC secures $50M equity commitment

Fri, 21 Jan 2011 23:00:50 GMT

Houston-based XOG LLC, an independent oil and natural gas company, has received a $50 million equity commitment from Kayne Anderson Energy Funds and management.

ONEOK Partners announces $1.3B notes offering

Fri, 21 Jan 2011 20:50:30 GMT

Tulsa-based ONEOK Partners LP announced Jan. 21 that it has priced an offering to sell $1.3 billion of senior notes, consisting of $650 million of five-year senior notes at a coupon of 3.25% and $650 million of 30-year senior notes at a coupon of 6.125%.

Eclipse Resources founded with $150M equity commitment

Fri, 21 Jan 2011 15:30:10 GMT

Benjamin W. Hulburt and Christopher K. Hulburt, former senior executive officers of Rex Energy Corp., have formed Eclipse Resources I, LP, an independent oil and natural gas company headquartered in State College, Pa., with a $150 million equity commitment from EnCap Investments LP and from Eclipse management.

Petrohawk increases private offering to $400 million

Mon, 17 Jan 2011 16:05:10 GMT

Petrohawk Energy Corp. has increased the size of its previous private offering of its outstanding series of 7 1/4% senior notes price from $300 million to $400 million as of Friday, January 14.

Petrohawk makes $300M private offering of senior notes due 2018

Fri, 14 Jan 2011 17:10:50 GMT

Petrohawk Energy Corp. has commenced a private offering of $300 million of 7-1/4% senior notes due 2018.

Valero invests $50M in Michigan biofuels refinery

Thu, 13 Jan 2011 14:50:40 GMT

San Antonio-based Valero Energy Corporation, the nation’s largest independent oil refiner, said Jan. 13 it has invested in Mascoma Corporation, an innovative biofuels company.

Avista Capital Partners to support Celtique Energie growth in Europe

Wed, 12 Jan 2011 15:50:30 GMT

Celtique Energie Holdings Ltd., a London-based exploration and production company, has entered into an agreement with private equity firm Avista Capital Partners and affiliates of a wealthy European family to provide an equity commitment up to $100 million.

Hess sets $5.6 billion capex budget for 2011

Fri, 07 Jan 2011 21:35:30 GMT

New York-based Hess Corporation announced its 2011 capital and exploratory budget of $5.6 billion on Jan. 7, nearly all of which is targeted for exploration and production: $3.1 billion for production, $1.6 billion for developments, and $900 million for exploration.

W&T Offshore sets $310M budget for 2011

Wed, 05 Jan 2011 17:20:00 GMT

W&T Offshore announced its 2011 capital plan of $310 million excluding acquisitions. Increasing target price to $16.50 and adjusting eps estimates on revised production expectations, including recent acquisitions.

Miller Energy Resources secures $5M to expand Alaska ops

Mon, 03 Jan 2011 15:45:50 GMT

Oil and natural gas exploration, production, and drilling company Miller Petroleum Inc. dba Miller Energy Resources has been granted a $5 million line of credit by PlainsCapital Bank in anticipation of larger, permanent facility.

Private equity providers to oil and gas industry

Sat, 01 Jan 2011 06:00:00 GMT

CIT to redeem $500M of Series A notes

Thu, 30 Dec 2010 15:00:00 GMT

CIT Group Inc. will redeem $500 million of its 7% Series A Second Lien Notes maturing in 2013.

Canacol Energy sets 2011 CAPEX budget of $106M

Wed, 29 Dec 2010 16:05:30 GMT

Canacol Energy Ltd. announced a 2011 CAPEX budget of US$106 million for exploration and development activities in Colombia, Guyana, and Brazil.

Crimson Exploration refinances second lien facility

Tue, 28 Dec 2010 20:10:40 GMT

Crimson Exploration expanded its second lien facility and extended its maturity by three years.

Young Energy Prize to help fund Evans Shoal agreement for Magellan Petroleum

Mon, 27 Dec 2010 18:15:40 GMT

On December 24, Magellan Petroleum Corp. announced it had received and accepted a legally binding commitment from its largest shareholder, Young Energy Prize s.a., to provide the necessary funds required for MPET's Australian subsidiary to close out the acquisition from Santos of a 40% ownership interest in the Evans Shoal natural gas field in the Bonaparte Basin offshore Northern Territory Australia.

Magnum Hunter Resources to acquire NGAS Resources

Mon, 27 Dec 2010 17:05:50 GMT

NGAS Resources Inc. has announced a definitive agreement to be acquired by Magnum Hunter Resources Corp. in an all-stock transaction valued at roughly $98 million.

Oil price prediction: $100 in 1Q and $150 by summer

Sun, 26 Dec 2010 22:30:50 GMT

The price of a barrel of crude oil could soar to nearly $150 a barrel by summer, according to Joe Petrowski, CEO of Gulf Oil and the Cumberland Gulf Group. Petrowski made the statement on a CNBC program on Dec. 23.

EXCO Resources acquires Marcellus Shale properties from Chief

Wed, 22 Dec 2010 14:40:10 GMT

Dallas-based EXCO Resources Inc. said Dec. 22 it will buy properties prospective for the Marcellus Shale from Chief Oil & Gas LLC and related parties for about $459.4 million, after preliminary purchase price adjustments at the closing.

Chesapeake shares surge as investor Carl Icahn doubles stake in company

Tue, 21 Dec 2010 16:25:20 GMT

Shares in Chesapeake Energy Corp. have surged in recent days after word got out that billionaire investor Carl Icahn had boosted his stake in the company.

Total acquires an interest in Elevance Renewables

Tue, 21 Dec 2010 14:50:30 GMT

France’s Total has purchased an interest in Elevance Renewables Sciences Inc., a Chicago-based company developing a technology to convert renewable oils, such as vegetable oils, into low-cost and high-value performance chemicals.

UTEX Industries acquired by Rhone Capital

Mon, 20 Dec 2010 17:30:40 GMT

On Dec. 15, UTEX Industries, a portfolio company of Audax Group, was acquired by Rhone Capital.

Magnum Hunter to build gas plant in West Virginia

Mon, 20 Dec 2010 14:30:10 GMT

Houston-based Magnum Hunter Resources said Dec. 17 that it will construct a 200-MMcf per day capacity cryogenic natural gas processing plant in West Virginia.

Shares of QR Energy begin trading on NYSE

Fri, 17 Dec 2010 22:05:20 GMT

Shares of QR Energy LP began trading at $19.68 at mid-morning on Dec. 17 on the New York Stock Exchange, slightly below the $20 IPO price. By the end of the day, shares had fallen 2% to $19.60.

Energy XXI closes deal with ExxonMobil for GoM shelf properties

Fri, 17 Dec 2010 19:50:10 GMT

Yorkville Advisors participates in equity placement completed by Sound Oil Plc

Fri, 17 Dec 2010 17:00:00 GMT

Energy law firm Burleson Cooke names Cagle partner

Thu, 16 Dec 2010 16:00:50 GMT

Kim S. Cagle has been named a partner of energy law firm Burleson Cooke.

RigNet prices IPO

Thu, 16 Dec 2010 15:00:20 GMT

Oilfield communications company RigNet Inc. has made an initial public offering of 5,000,000 shares of its common stock at $12.00 per share.

Navix raises $300M energy fund

Wed, 15 Dec 2010 16:30:20 GMT

Navix de Mexico SA de CV, SOFOM, E.N.R. (Navix), has closed the Fondo de Inversión en el Sector Energético (FISE), a private debt fund with roughly US$320 million in net placement proceeds.

Regency Energy to expand midstream assets in Eagle Ford shale

Tue, 14 Dec 2010 21:30:40 GMT

Regency Energy Partners LP has announced a series of expansion projects along its rich gas gathering system in south Texas to meet increasing producer demand in the Eagle Ford Shale.

Global Hunter Securities closes 5 deals exceeding $418 million

Mon, 13 Dec 2010 18:50:00 GMT

Global Hunter Securities said Dec. 13 it has closed five separate transactions for four different clients at the end of November, totaling $418.8 million.

Second Eagle Ford well outperforms first for Goodrich Petroleum

Mon, 13 Dec 2010 18:20:40 GMT

Houston-based Goodrich Petroleum recently announced results on its second Eagle Ford shale well, established a 2011 preliminary capital expenditure budget, and issued production guidance for 2011.

LINN Energy prices 10M unit offering at $35.92

Thu, 09 Dec 2010 21:30:10 GMT

LINN Energy LLC plans to sell 10 million units in a public offering expected to raise between $344 million and $396 million.

ATP enters second round of Titan-related financing

Tue, 07 Dec 2010 16:45:00 GMT

ATP Oil & Gas Corp. has entered the second round of financing related to the ATP Titan in the amount of $100 million.

Diamond Castle Holdings invests in Professional Directional Enterprises

Mon, 06 Dec 2010 23:00:00 GMT

Diamond Castle Holdings LLC has invested in Professional Directional Enterprises Inc., a large independent provider of directional and horizontal drilling services to oil and natural gas exploration and production companies.

CIT appoints Quinlan executive vice president, banking

Mon, 06 Dec 2010 21:10:40 GMT

CIT Group Inc. has named Raymond J. Quinlan as executive vice president, banking. He will report to chairman and CEO John A. Thain.

Questar CFO Craven to retire; Hadlock named executive VP, CFO

Thu, 02 Dec 2010 17:20:30 GMT

Martin Craven, vice president and CFO of Questar Corp. has elected to retire, effective March 1, 2011. Kevin W. Hadlock has been named executive vice president and will succeed Craven as CFO, effective January 1, 2011.

Macquarie names Hassen chairman of global oil and gas banking

Wed, 01 Dec 2010 21:00:10 GMT

Macquarie Group has named Thomas E. Hassen chairman of Global Oil and Gas banking for Macquarie Capital. Hassen has over 30 years of experience in investment banking, specializing in the energy sector.

E.ON sells $4.4B stake in Gazprom

Wed, 01 Dec 2010 19:00:00 GMT

Düsseldorf, Germany-based E.ON AG has sold the 3.5% stake in Gazprom held by its subsidiary E.ON Ruhrgas.

BPZ brings Corvina oil field into commercial production

Wed, 01 Dec 2010 17:45:40 GMT

BPZ Resources Inc. has placed the Corvina oil field, located in offshore Block Z-1 in northwest Peru, into commercial production.

Lamoreaux joins new Siemens Financial energy finance office

Wed, 01 Dec 2010 06:00:00 GMT

Siemens Financial Services Inc. (SFS Inc.), the US unit of Siemens Financial Services, has appointed Scott Lamoreaux as vice president, Energy Finance.

Energy XXI to offer $700M Senior Notes to help finance ExxonMobil asset buy

Tue, 30 Nov 2010 16:20:50 GMT

To help finance its recent acquisition of certain Gulf of Mexico shelf assets from ExxonMobil, Energy XXI Gulf Coast Inc., the operating subsidiary of Energy XXI (Bermuda) Ltd. intends to offer up to $700 million aggregate principal amount of senior notes due 2017 in a private placement.

Korea buys shares from Osum Oil Sands

Mon, 29 Nov 2010 17:00:40 GMT

Osum Oil Sands Corp., a privately held Alberta based company, has entered into an agreement to issue to a wholly-owned subsidiary of Korea Investment Corp. 7,692,308 common shares at $13.00 per share for gross proceeds of $100 million.

EXCO plans $976M budget for 2011

Mon, 29 Nov 2010 16:40:50 GMT

EXCO Resources plans to spend $768.9 million on drilling and completions in 2011 as part of a $976.2 million total budget.

TTS signs US$76 drilling equipment contract with DSIC Offshore

Mon, 29 Nov 2010 15:35:00 GMT

TTS Energy, part of TTS Group, has signed a contract with DSIC Offshore in Dalian, China for two Drilling Equipment Packages. The contract, which is subject to financing, has a value of roughly US$76 million.

Apache makes corporate leadership changes

Mon, 22 Nov 2010 23:35:20 GMT

Apache Corp. has made changes in the leadership of its corporate and financial teams.

Societe Generale adds Herrlin to head US Energy Research

Fri, 19 Nov 2010 20:30:00 GMT

Societe Generale Corporate & Investment Banking has hired John P. Herrlin Jr. to head its oil and gas equity research in the US.

Dejour closes CAD$2M institutional investment

Fri, 19 Nov 2010 12:00:50 GMT

Dejour Enterprises Ltd. has raised CAD$2 million (roughly US$1.9 million) selling 7,142,858 common shares and 4,642,858 share purchase warrants to a New York-based institutional investor.

Eagle Oil retains Petro Lucre to provide merger, acquisition advisory services

Thu, 18 Nov 2010 17:20:30 GMT

Eagle Oil Holding Co. Inc. has retained Petro Lucre LLC to provide merger and acquisition advisory services.

Murphy joins Northern Tier Energy as CFO

Thu, 18 Nov 2010 15:00:10 GMT

Northern Tier Energy LLC has named Neal E. Murphy as its CFO.

Newfield buys Marcellus acreage from transitioning EOG Resources

Tue, 16 Nov 2010 17:00:10 GMT

Newfield Exploration Co. has agreed to purchase nearly 50,000 net acres in the Marcellus Shale from EOG Resources Inc. for $405 million, or $8,100 an acre.

New management consulting firm opens in Houston

Mon, 15 Nov 2010 20:00:40 GMT

Three ex-Big Four partners and directors have formed Trenegy Inc., a full service consulting firm in Houston. Gordon Sorrells, Bill Aimone, and Peter Purcel founded Trenegy to provide consulting services to growing middle market companies.

Swift increases public offering, announces 2011 CAPEX plans

Mon, 15 Nov 2010 18:00:20 GMT

Houston-based oil and gas producer Swift Energy has increased the size of its previously announced public offering and announced its preliminary 2011 capital expenditure plans.

Weatherford approved for Swiss Exchange listing

Fri, 12 Nov 2010 20:05:30 GMT

The Swiss Exchange (SIX) has approved the listing and trading of shares of Weatherford starting 17 November 2010, under the stock ticker WFT.

Cheniere signs MOU with Morgan Stanley

Wed, 10 Nov 2010 16:45:00 GMT

Cheniere Energy Partners LP said Nov. 8 that its subsidiary, Sabine Pass Liquefaction LLC has entered into a non-binding memorandum of understanding (MOU) with Morgan Stanley Capital Group Inc. in connection with the potential acquisition by Morgan Stanley of certain import capacity and approximately 20% of a proposed 7.0 million tonnes per annum (mtpa) of LNG liquefaction capacity at the Sabine Pass LNG terminal located in Cameron Parish, Louisiana.

Shell to sell Australian assets for $3.3 billion

Wed, 10 Nov 2010 16:10:10 GMT

Shell has agreed to sell part of its stake in Australia’s Woodside Petroleum Ltd. to equity investors for US$3.3 billion.

Antero Resources closes Oklahoma Midstream sale to Cardinal

Mon, 08 Nov 2010 17:05:40 GMT

Antero Resources has closed the sale of its midstream assets, located in the Woodford Shale area, to Cardinal Midstream LLC for $270 million.

BPZ Resources engages Credit Suisse as financial advisor

Fri, 05 Nov 2010 15:35:20 GMT

BPZ Resources Inc. has engaged Credit Suisse Securities (USA) LLC as its financial advisor to assist in pursuing joint venture partnerships, and/or farm-outs for some or all of the company's assets, and options for financing its operations in northwest Peru.

Antero Resources enters new $1B revolving credit facility

Thu, 04 Nov 2010 16:10:10 GMT

Antero Resources has entered into a new $1 billion revolving credit facility with a 13-bank syndicate led by JP Morgan Securities LLC and Wells Fargo Securities LLC as Joint Lead Arrangers and Joint Lead Bookrunners.

Gulf Coast Energy Resources receives capital infusion from Warburg Pincus

Wed, 03 Nov 2010 20:25:20 GMT

Gulf Coast Energy Resources LLC, a privately-held company focused on conventional onshore oil and gas plays, has received an investment commitment of up to $250 million from private equity firm Warburg Pincus and the management team.

Siemens Financial opens energy finance office in Houston

Wed, 03 Nov 2010 17:00:00 GMT

Siemens Financial Services Inc. has appointed Scott Lamoreaux as vice president, Energy Finance.

GE gets in on natural gas boom with Dresser acquisition

Mon, 01 Nov 2010 05:00:00 GMT

Addison, Tex.-based Dresser Inc., majority-owned by private equity firms Riverstone Holdings LLC and First Reserve Corp., has agreed to be acquired by GE for $3 billion.

Endeavour mourns loss of Thomas Clark

Mon, 01 Nov 2010 05:00:00 GMT

Thomas D. Clark, Jr., a member of the board of directors at Endeavour International Corp., died October 9, 2010. Clark had served as a director of the corporation since 2006, most recently as chairman of the company's Nominating and Governance Committee and as a member of the Technology and Reserves Committee.

Considering CapEx investments in a time of unusual uncertainty

Mon, 01 Nov 2010 05:00:00 GMT

"The assumption that current best practices will give us the predictability we need must be replaced with a fresh approach that recognizes capital predictability, not as a problem to be solved, but instead as a variable to be continuously managed."

M&A activity still snail-like, but picks up a little in October

Mon, 01 Nov 2010 05:00:00 GMT

Domestic upstream M&A deals have been rather slow the past few months, but the 30-day period from mid-September to mid-October included a few more transactions than we've had in recent months.

Considering CapEx investments in a time of unusual uncertainty

Mon, 01 Nov 2010 05:00:00 GMT

Energy XXI prices concurrent offerings near $500 million

Fri, 29 Oct 2010 19:55:30 GMT

Energy XXI has priced its previously announced concurrent offerings of $249 million (12 million shares) of its common stock and $250 million (1 million shares) of 5.625% convertible perpetual preferred stock.

Maven, Simmons invest £5.5million in subsea specialist flexlife

Fri, 29 Oct 2010 16:05:40 GMT

Maven Capital Partners and Simmons Parallel Energy (SPE) have invested £5.5million in growth equity to subsea specialist flexlife.

Taylor-DeJongh, Phoenix Capital launch Washington-Baghdad financial services firm

Thu, 28 Oct 2010 14:00:10 GMT

Taylor-DeJongh, an energy and infrastructure investment banking firm, and Phoenix Capital LLC, a Baghdad-based investment bank, have entered into a strategic partnership to create the first Washington-Baghdad financial services firm.

EnerVest to buy Barnett shale assets from Talon

Wed, 27 Oct 2010 19:10:30 GMT

Houston-based EnerVest Ltd. has entered the Barnett shale with an agreement to purchase oil and natural gas assets from privately held Talon Oil & Gas LLC for $967 million.

Berry Petroleum to offer $300M senior notes to fund Permian Basin acquisition

Wed, 27 Oct 2010 14:35:10 GMT

Berry Petroleum Co. plans to publicly offer $300 million aggregate principal amount of senior notes due 2020 to fund the company's recent acquisition in the Wolfberry trend of West Texas.

Venezuela, Iran sign deal to develop giant South Pars gas field

Mon, 25 Oct 2010 16:00:00 GMT

The oil minister of Venezuela has agreed to invest US$780 million to help develop Phase 12 of the huge South Pars gas field in Iran. The deal is expected to be signed in three months, according to Hamad Akbari, the project manager of Phase 12 .

GE introduces loans for development drilling

Mon, 25 Oct 2010 14:00:00 GMT

GE Energy Financial Services, a unit of GE, is expanding its oil and gas reserves investing business by offering loans for development drilling.