Public Capital

Public Capital , Exploration & Production , Shale Plays

Pioneer Says Output Dip Won’t Derail Variable Dividend Plans

Most Pioneer Natural Resources production in the Permian Basin is back online and storm damage repairs are “minor in the grand scheme of things,” CFO Neal Shah said.

February 24, 2021

Public Capital , Acquisitions & Divestitures , Midstream

Inter Pipeline Launches Review after Rejecting Brookfield’s $6 Billion Bid

Inter Pipeline said on Feb. 18 it has launched a review of options, including a possible ‘corporate transaction,’ just a week after it rejected an unsolicited bid from its largest shareholder.

February 19, 2021

Public Capital , Shale Plays , Acquisitions & Divestitures , Mergers , Midstream

Energy Transfer to Acquire Enable Midstream in $7.2 Billion All-stock Deal

The all-equity transaction for Enable Midstream, valued at about $7.2 billion including debt, comes weeks after a U.S. appeals court dealt a blow that could shut down the Dakota Access crude pipeline operated by Energy Transfer.

February 17, 2021

Public Capital , Shale Plays

Devon Energy Declares ‘Industry-first’ Variable Cash Dividend

Devon Energy’s “fixed plus variable” dividend framework was implemented following the closing of its acquisition of WPX Energy.

February 16, 2021

Public Capital , Policy & Regulations , Shale Plays

S&P Downgrades Top US Oil Producers Exxon Mobil, Chevron, ConocoPhillips

While companies including Exxon Mobil, Chevron and ConocoPhillips have announced steps to tackle climate change, S&P said it does not see those “providing material credit differentiation.”

February 12, 2021

Public Capital

Occidental Petroleum Restores Major Portion of CEO Pay

Occidental Petroleum CEO Vicki Hollub’s salary was restored to $1 million, effective Jan. 1, with the move coming at a time when WTI crude futures in the U.S. have touched a year high.

February 12, 2021

Public Capital , Health, Safety & Environment , Emissions , Renewables , Midstream

Pipeline Operator Energy Transfer Eyes Alternative Energy Expansion

The newly formed Alternative Energy Group within Energy Transfer will be led by Tom Mason and continue the Dallas-based pipeline operator’s focus on renewable energy projects that started in 2019 with a Permian Basin solar deal.

February 11, 2021

Public Capital , People , Shale Plays

Houston-based Oil Producer Marathon Oil Confirms Layoffs

Marathon Oil has laid off around 100 U.S. employees, or about 5% of its total workforce, a spokeswoman for the Houston-based oil and gas producer said Feb. 11.

February 11, 2021

Public Capital , Acquisitions & Divestitures , Midstream

Brookfield Lobs $5.6 Billion Unsolicited Take-private Offer for Inter Pipeline

Brookfield, which owns and operates assets in the utilities, transport and storage sectors, said it has acquired 19.65% economic interest in Inter Pipeline, to become its top shareholder.

February 11, 2021

Public Capital , Health, Safety & Environment , Emissions

Oil Giant Shell Accelerates 2050 Carbon Reduction Targets

Global supermajor Royal Dutch Shell will still rely on revenue from its oil and gas division to pay for shareholder returns and the energy transition.

February 11, 2021