Public Capital

Public Capital , Policy & Regulations , Shale Plays

S&P Downgrades Top US Oil Producers Exxon Mobil, Chevron, ConocoPhillips

While companies including Exxon Mobil, Chevron and ConocoPhillips have announced steps to tackle climate change, S&P said it does not see those “providing material credit differentiation.”

February 12, 2021

Public Capital

Occidental Petroleum Restores Major Portion of CEO Pay

Occidental Petroleum CEO Vicki Hollub’s salary was restored to $1 million, effective Jan. 1, with the move coming at a time when WTI crude futures in the U.S. have touched a year high.

February 12, 2021

Public Capital , Health, Safety & Environment , Emissions , Renewables , Midstream

Pipeline Operator Energy Transfer Eyes Alternative Energy Expansion

The newly formed Alternative Energy Group within Energy Transfer will be led by Tom Mason and continue the Dallas-based pipeline operator’s focus on renewable energy projects that started in 2019 with a Permian Basin solar deal.

February 11, 2021

Public Capital , People , Shale Plays

Houston-based Oil Producer Marathon Oil Confirms Layoffs

Marathon Oil has laid off around 100 U.S. employees, or about 5% of its total workforce, a spokeswoman for the Houston-based oil and gas producer said Feb. 11.

February 11, 2021

Public Capital , Acquisitions & Divestitures , Midstream

Brookfield Lobs $5.6 Billion Unsolicited Take-private Offer for Inter Pipeline

Brookfield, which owns and operates assets in the utilities, transport and storage sectors, said it has acquired 19.65% economic interest in Inter Pipeline, to become its top shareholder.

February 11, 2021

Public Capital , Health, Safety & Environment , Emissions

Oil Giant Shell Accelerates 2050 Carbon Reduction Targets

Global supermajor Royal Dutch Shell will still rely on revenue from its oil and gas division to pay for shareholder returns and the energy transition.

February 11, 2021

Public Capital , Exploration & Production , Shale Plays , Acquisitions & Divestitures , Mergers

ARC Resources to Buy Seven Generations in $2.2 Billion All-stock Deal

Following the acquisition of Seven Generations by ARC Resources, the combined company will become the biggest operator in western Canada’s premier Montney shale play.

February 11, 2021

Public Capital , Exploration & Production , Acquisitions & Divestitures

Tullow Oil to Sell West Africa Assets for Up to $180 Million

The sale will help Tullow Oil reduce its $2.4 billion debt pile, which is around four times the size of its current market cap of $577 million.

February 10, 2021

Restructurings , Public Capital , Exploration & Production , Emissions , Shale Plays

Chesapeake Energy Emerges from Bankruptcy Following ‘Business Reset’

Alongside its emergence from bankruptcy, Chesapeake Energy also unveiled a commitment to achieve net-zero greenhouse gas  direct emissions by 2035 among other environmental targets.

February 9, 2021

Public Capital , Renewables , Shale Plays , Trends , Mergers

Big Oil’s Huge Losses Raise Prospect of Megamergers

Rise of clean energy and doubts about long-term demand force existential reckoning for oil majors.

February 9, 2021