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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