Diamondback Energy had initially planned for its Rattler Midstream subsidiary to make its public debut last year but was stopped by tough market conditions thanks to commodity volatility.
Splashy mergers worth billions dominated the talk, but many companies spent 2018 playing it safe as E&P executives fretted over trade, interest rates, demand for oil, how to please investors and how long better times would last.
Saudi Aramco's delayed initial public offering is sidelining grand North American expansion plans at its U.S. refining subsidiary Motiva Enterprises LLC, people familiar with the matter said, at a time when its rivals grew their market share.
If successful, the $100 million IPO filed by the minerals business of oil and gas entrepreneur Bud Brigham could help to end a drought of energy IPOs.
Average total compensation for CEOs and CFOs at E&P companies increased last year vs. 2017 primarily due to the value of long-term incentives.
Norwegian oil company Aker said on Feb. 14 that its exploration start-up in Ghana will submit development plans to Ghanaian authorities in March and the parent will then decide whether to sell stakes via an IPO or other means.
Last year ended with the worst quarter for upstream equity issuances since 2010 as only two equity deals raised $67.5 million.
New Fortress Energy is likely to file for an IPO again on Jan. 24, changing its language and picking a target price for shares, the Wall Street Journal reported citing people familiar with the matter.
New Fortress Energy is looking to capitalize on a growing supply-demand gap by developing LNG assets particularly in areas with significant “stranded” natural gas reserves.
Remember this when going public: It’s a clean slate and what transpired as a private company no longer matters.
