Public Capital

Public Capital , Shale Plays , Acquisitions & Divestitures

Brigham Minerals Steps Up Permian Ground Game While Mum on Possible Sale

Brigham Minerals partially redeployed the proceeds from a divestiture in the Anadarko Basin during the second quarter into debt reduction and its acquisition ground game in the Permian Basin.

August 12, 2022

Public Capital , Energy Transition , Technology

Grey Rock Forms Partnership with Conduit Power to Pursue Electrification Strategy

To help stabilize the fluctuating cost of electrifying industrial activities, Grey Rock is investing $100 million in Conduit Power and its electrification services.

August 9, 2022

Public Capital , Exploration & Production , Mergers

Capricorn Should Ditch Tullow Merger Deal, Investor Says

“The proposed merger appears to us to be a poorly disguised nil-premium takeover of Capricorn by Tullow,” said the letter which was dated Aug. 9 and signed by Palliser Capital (UK) Chief Investment Officer James Smith.

August 9, 2022

Public Capital , Acquisitions & Divestitures

Berkshire Hathaway Boosts Occidental Petroleum Stake above 20%

A 20% stake would let Warren Buffett’s Berkshire Hathaway report its proportionate share of Houston-based Occidental Petroleum’s earnings with operating results, through the so-called equity method of accounting.

August 9, 2022

Public Capital , Acquisitions & Divestitures

Berkshire CEO-designate Sells Stake in Energy Company He Led for $870 Million

In its quarterly report, Berkshire Hathaway said the energy unit bought out Vice Chairman Greg Abel in June under an agreement among them and the family of the late billionaire philanthropist Walter Scott, which owns an 8% stake.

August 8, 2022

Public Capital , Earnings , Exploration & Production

APA Aims to Reward Shareholders Over 50% of Free Cash Flow by Year-end

APA Corp. eyes returning at least $1.8 billion of its capital to shareholders through dividends and share buybacks by year-end while also lowering its production guidance for 2022 by 2%.

August 5, 2022

Public Capital , Earnings , Exploration & Production

ConocoPhillips Forecasts Low, Single-digit Oil Production Growth

“We have a lot of capacity in the gas space, both LNG and natural gas,” CEO Ryan Lance added, “and we wanted to augment that with additional LNG liquefaction capacity.”

August 5, 2022

Public Capital , Earnings , Acquisitions & Divestitures

Suncor Energy Quarterly Profit Surges, Plans to Divest Assets

Suncor, Canada’s third-largest oil producer, said it has signed a deal to divest its Norway assets for about $410 million, and has also begun a sale process for its entire U.K. business after receiving interest.

August 5, 2022

Public Capital , Shale Plays , Acquisitions & Divestitures

Brigham Minerals Explores Sale or Merger, Sources Say

Brigham Minerals’ shares have risen more than 20% this year as it benefited from elevated energy prices, prompting founder and CEO Bud Brigham to consider a sale, the sources said.

August 4, 2022

Public Capital , Crude Oil , Shale Plays

Pioneer’s Sheffield Sees $100 Oil Persisting, Amid Bump in OPEC+ Output

“It was miniscule. They just don’t have the supply,” Pioneer Natural Resources CEO Scott Sheffield said, pointing to OPEC heavyweights Saudi Arabia and United Arab Emirates.

August 4, 2022