Even to just survive, E&Ps increasingly must look beyond traditional sources of capital to fund their operations. Here are some other financial structures on the rise.
The bankruptcy filing by Blackstone Group's Gavilan Resources comes amid an "increasingly unworkable relationship" with Sanchez Energy, its partner in the Eagle Ford Shale.
Post Oak Energy Capital affiliate Balcones Energy Holdings, in partnership with certain individual investors, sold the equity interests in Precision Compression Services in an all-cash transaction.
In a statement, Stephen Johnson said he and the WaterBridge board are confident that now is the right time to transition the water midstream company’s leadership to the “next generation of talent.”
Tom Ward says his goal with Mach Resources has been to be a patient, buyer of choice for both undercapitalized, distressed sellers in the Midcontinent region.
Christine Whelchel, formerly with Marathon Petroleum, joins Tatanka Midstream as a strategic partner in the development and execution of the company’s corporate and competitive strategy.
John Sellers, co-CEO, noted how the additional RBL capacity paired with the company’s undrawn equity commitment will allow DoublePoint Energy “to play offense” in the down market.
The industry’s ‘we’ve got this’ mentality shifts to survival mode as it tackles an enormous body of uncertainty-infused challenges, including prices, demand, storage, upended deals and layoffs.