Public Capital

Public Capital , People , Exploration & Production , Shale Plays

BP Names David Lawler as New Head of BP America

As chairman and president of BP America, David C. Lawler is expected to lead the British oil major’s efforts in the U.S. to become net-zero by 2050.

May 28, 2020

Public Capital , Investment , Energy Capital Conference , Unconventional

Energy Commercial Banking: Reserve-Based Loans—with Caveats

A conversation with three commercial bankers reveals that the RBL markets are “open for business,” but none of them are promising it’s going to be easy for oil and gas producers to get fast cash backed by reserves.

May 28, 2020

Public Capital , Health, Safety & Environment

Chevron Shareholders Approve Push for More Transparency on Climate Lobbying

Chevron shareholders on May 27 voted to approve a proposal demanding that the company issue a report on its climate change related lobbying activities.

May 28, 2020

Public Capital , Shale Plays , Technology

Basic Energy Services Consolidates US Lower 48 Operations

Similar to its peers in the service sector, Basic Energy Services has made moves over the past several months to protect its balance sheet as oil and gas operators slam the brakes on activity.

May 27, 2020

Public Capital , Shale Plays , Acquisitions & Divestitures , Mergers

Occidental Petroleum Sued by Investors over Anadarko Merger

Occidental Petroleum has been sued by investors who claim they suffered billions of dollars of losses because the heavily indebted company concealed its inability to weather plunging oil prices.

May 27, 2020

Public Capital , Health, Safety & Environment

Exxon Mobil Shareholders Reject Splitting Chairman, CEO Roles

Under CEO Darren Woods, Exxon Mobil blocked six climate resolutions from this year's ballot, encouraging activists to seek the split.

May 27, 2020

Public Capital

Hedge Fund Angelo Gordon Buys Northern Oil & Gas Debt

Northern Oil & Gas has been trying to cut its debt load of more than $1 billion for months by using a so-called "debt-for-equity" swap among other things.

May 27, 2020

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

EQT Closes $125 Million Asset Sale to Diversified Gas & Oil

Additionally, EQT decided to temporarily curtail approximately 1.4 Bcfe/d of gross production, equivalent to roughly 1 Bcfe/d of net production.

May 26, 2020

Restructurings , Public Capital , Shale Plays

US Shale Industry Braces for Wave of Bankruptcies

Seventeen oil and gas producers in the U.S. have filed for Chapter 11 so far this year but many more are close.

May 26, 2020

Business , Public Capital , Private Equity , Markets , Technology , Trends

PATH FORWARD: Opportune’s David Baggett on Survival Tactics for Oil Downturn

David Baggett, founder and managing partner of Opportune, says oil and gas companies are focused on short-term survival and lowering costs, which can already be seen by massive capex cuts among producers and the historic plunge in rig counts.

May 26, 2020