Similar to another acquisition made by Laredo Petroleum in the Permian Basin earlier this quarter, the bolt-on in Glasscock County, Texas, continues to shift the company’s production mix toward oil.
Lilis Energy is below compliance with the NYSE American stock exchange’s continued listing standards because its stock has been selling for “a low price per share for a substantial period of time.”
The proceeds from Saudi Aramco's record IPO have risen to $29.4 billion after the oil company exercised an option to sell 15% more stock, an executive at one of the banks leading the deal told Al Arabiya news channel.
Tullow Oil on Dec. 9 said its CEO Paul McDade has resigned and the oil and gas explorer also scrapped its dividends, as it continues to face issues at its fields in Ghana.
Today’s featured Forty Under 40 honoree is Blake London, who leads Credit Suisse’s energy equity capital markets division and was most recently involved in Brigham Minerals’ IPO.
OPEC and its allies plan to deepen oil cuts and have the deal in place so it runs at least until June 2020 as Saudi Arabia wants to deliver a positive surprise to the market before the listing of Saudi Aramco, two sources familiar with the talks said.
Saudi Aramco has received bids for its shares totaling $44.3 billion so far, lead manager Samba Capital said on Nov. 29, putting its initial public offering on track to be over-subscribed.
Saudi Arabia’s wealthy Gulf neighbors plan to invest in the IPO of Saudi Aramco, sources familiar with the matter said, helping out Riyadh as it strives to raise $25.6 billion from a domestic listing of the state oil giant.
Saudi Aramco's weighting in Saudi Arabia's main stock index once the oil giant has listed shares is not expected to breach the maximum limit set by the Gulf kingdom's Tadawul exchange, a senior executive said on Nov. 24.