In this week's A&D Minute, companies merge, shore up their balance sheet and shift away from fossil fuels.
Alta Mar Energy LLC plans to use investment funds managed by Carnelian Energy Capital Management LP to build an exploration, development and production portfolio in the GoM.
ESG pressures and declining returns in the past have hindered plans by private equity firms such as Quantum Energy Partners to raise billions of dollars.
Civitas Resources priced a private placement of $1.35 billion senior notes due in 2028 and 2031 to be used to fund a portion of the acquisition of Hibernia Energy III and Tap Rock Resources.
Regaining investor trust–and access to their cash–is on the horizon as the E&P sector returns record profits to investors, a panel of experts said during Hart Energy’s SUPER DUG conference.
Private equity is coming back to the upstream sector, but is dramatically outweighed by the forecasted market supply needed to prevent a shortfall.
Pearl Energy Managing Partner Bill Quinn told Hart Energy the fund is backing three management teams, with two focused on the Permian and a third with a heavy emphasis on Saskatchewan, Canada.
After selling FireBird Energy LLC to Diamondback last year, the same team is searching for deals to develop another asset in the Midland, and possibly the Delaware Basin, too.
Swordfish is led by part of the team that sold Advance Energy Partners Holdings LLC to Matador Resources Co. for $1.6 billion.
NGP is financially backing Wing Resources on a seventh partnership aimed at acquiring oil and gas minerals and royalties in the Permian Basin.