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.
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.
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.
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.
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.”
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.
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.
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.
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.
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.