Public Capital

Public Capital , Acquisitions & Divestitures

Buffett’s Berkshire Hathaway Buys 5.99 Million More Occidental Shares

Following the purchases, Warren Buffett’s Berkshire Hathaway now owns about 194.4 million Occidental Petroleum shares worth approximately $11.9 billion, based on Occidental’s closing price of $61.41 on Sept. 28.

September 29, 2022

Public Capital , Shale Plays , Acquisitions & Divestitures

SilverBow ‘Poison Pill’ Attempts to Fend Off Possible Kimmeridge Takeover

Kimmeridge Energy, which spent more than $100 million to acquire SilverBow Resources stock, recently acquired another Eagle Ford E&P—Laredo Energy, an analyst said.

September 29, 2022

Public Capital

Hess Creditors Seek Dismissal of Virgin Islands Bankruptcy

Hess subsidiary HONX filed for Chapter 11 protection in Houston on April 29, saying it intended to take advantage of the “breathing spell” of a bankruptcy case to reach a fair and efficient resolution of asbestos claims against Hess.

September 23, 2022

Public Capital , Liquefied Natural Gas , Midstream

Tellurian’s Bad Week at Driftwood LNG’s Expense

Tellurian Inc.’s decision to pull a $1 billion bond deal related to its Driftwood project will “jeopardize” initial LNG exports slated for early 2026 while the search for equity partners intensifies.

September 22, 2022

Public Capital , People , Shale Plays

Magnolia Oil & Gas Appoints New CEO as Stephen Chazen Steps Down for Health Reasons

Effective immediately, Magnolia Oil & Gas on Sept. 21 named Christopher Stavros, the company’s CFO, as president and CEO. The company said Stephen Chazen will no longer be able to serve in his positions due to serious health reasons.

September 21, 2022

Public Capital

APA Corp. Doubles Dividend Alongside Significant Buybacks Increase

APA Corp.’s dividend boost represents annualized 2.4% dividend yield exceeding the current S&P 500 yield of roughly 1.7%, according to TPH analyst Jeoffrey Lambujon.

September 15, 2022

Public Capital , People , Shale Plays

Devon Energy Names Barbara Baumann Chairman as Dave Hagar Retires

With the appointment of Barbara Baumann as board chairman, CEO Rick Muncrief said Devon Energy is continuing its governance tradition of separating the chair and CEO roles.

September 15, 2022

Public Capital , People , Energy Transition

Shell Taps Renewables Boss Wael Sawan to Replace CEO Ben van Beurden

Wael Sawan, currently director of integrated gas, renewables and energy solutions, is expected to help continue Shell’s green transition strategy when he takes over as CEO from Ben van Beurden early next year.

September 15, 2022

Public Capital , Exploration & Production , Mergers

Tullow Oil Sticks to Capricorn Merger Plans Despite Criticism

Capricorn’s board supports the merger, but the group also said last week it was exploring alternative deals after unnamed parties expressed interest.

September 14, 2022

Public Capital , Liquefied Natural Gas , Midstream

Cheniere Unveils ‘20/20 Vision,’ Eyes $4 Billion Share Buyback

Cheniere Energy says operational excellence has enabled accelerated and enhanced execution of its capital allocation plan and will fuel further debt reduction and continued share repurchases and higher dividends.

September 14, 2022