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.”
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.
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.
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.
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.
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.
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.
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.
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.
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.