The acquisitions represent the first transactions within a new partnership between Ward’s Mach Resources and Houston-based private-equity firm Bayou City Energy.
Callon Petroleum, currently a Permian Basin pure-play, will gain core oil-weighted positions in both the Permian and Eagle Ford Shale through its combination with Carrizo Oil & Gas.
Moody’s changed the rating outlook for EQT to negative from stable citing weak gas prices and the successful proxy campaign against the shale gas giant led by Rice brothers, Toby and Derek.
Occidental Petroleum added former managing director of BlackRock Advisors, Bob Shearer, to its board amid moves from famed activist investor Carl Icahn to launch a proxy fight.
Toby Rice was also named president and CEO of EQT, succeeding the shale gas giant’s former top exec Robert McNally.
The divestment of the field technology services business unit to Acteon continues Proserv’s strategy of realigning its focus to its core controls technology.
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