Public Capital

Public Capital

Saudi Aramco’s $75 Billion Dividend Dilemma

Months after the world’s biggest IPO, Saudi Aramco is finding it harder to pay shareholders.

August 11, 2020

Public Capital , Exploration & Production

Saudi Aramco Moves Forward with Plan to Boost Oil Output Capacity, CEO Says

Saudi Aramco is moving ahead with plans to boost crude output capacity by 1 million bbl/d to 13 million bbl/d despite cuts in capex this year and next year, CEO Amin Nasser says.

August 11, 2020

Public Capital , Earnings , Shale Plays

Occidental Petroleum Posts Fourth Straight Quarterly Loss on $6.6 Billion Write-down

Occidental Petroleum posted its fourth straight quarterly loss on Aug. 10 as it recorded a $6.6 billion impairment charge, largely to write down the value of its properties following a crash in oil prices.

August 10, 2020

Public Capital , Earnings , Pipelines

Duke Takes $1.6 Billion Charge to Exit Atlantic Coast Pipeline

Duke Energy said it took a $1.6 billion after-tax charge for the cancellation of the Atlantic Coast natural gas pipeline. Project partner Dominion already took a $2.8 billion charge related to the cancellation.

August 10, 2020

Public Capital , Shale Plays , Acquisitions & Divestitures , Mergers

Montney Shale Consolidation Continues with Canadian Natural Resources Deal

Canadian Natural Resources’ agreement to acquire Montney producer Painted Pony follows the acquisition of Kelt Exploration’s position in the shale gas play by ConocoPhillips late last month.

August 10, 2020

Public Capital , Investment

E&P Commercial Lending: Shrink to Fit

Dismayed E&Ps are feeling the pinch as their banks shrink RBL credit lines. What are the remedies, and what about this fall?

August 10, 2020

Public Capital , Earnings

Saudi Aramco Sticks to Dividend Pledge Despite Earnings Plunge

Saudi Aramco is sticking with plans to pay $75 billion in dividends this year and CEO Amin Nasser said global oil demand was recovering.

August 10, 2020

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

Riviera Resources Plans to Sell Remaining Upstream Assets

Riviera Resources engaged EnergyNet to market its remaining upstream assets, CEO David Rottino says, with plans for the transactions to close by fourth-quarter 2020.

August 7, 2020

Public Capital , Shale Plays , Acquisitions & Divestitures

Buffalo Bills Owners’ Blank-check Company Raises $300 Million

Terrence M. Pegula joins other NFL owners, most notably Dallas Cowboys owner Jerry Jones, in making large new investments during a stagnant time for the oil and gas industry.

August 7, 2020

Public Capital , Earnings , Exploration & Production , Shale Plays

EOG Resources Swings to Quarterly Loss on Oil Price Plunge

EOG Resources said it started to restore curtailed production in June as oil prices recovered from their April lows, and it expects nearly all shut-in wells to begin production before the third quarter ends.

August 6, 2020