Investment-banking firm Upstream Energy Capital has been formed in Denver to provide capital, debt and equity, for development of reserves in the Rocky Mountain and Midcontinent regions. Sources include institutional investors and major end-users including industrial users and electric-power generators. Capital is provided for producing companies and joint-venture investment funds. Principals include Jack Steinhauser, president, Jonas Olmsted, vice president of business development, and Chris Mendrop, VP of investment banking. Steinhauser was president and chief executive officer of Sharon Energy and is the founder of Hunter Stuart Energy Advisors. Michael Linn, formerly of Meridian Exploration Corp. and Allegheny Interests, and partners have formed Linn Energy LLC, Pittsburgh, with a focus on the Appalachia Basin. Quantum Energy Partners, Houston, has provided $15 million in private equity to the new venture. Linn is president; Gerald W. Merriam, formerly of Schlumberger, is vice president, engineering; and Roland P. Keddie, formerly of EOG Resources, is vice president, land. Natural Gas Partners, Irving, Texas, has closed the Natural Gas Partners VII LP private equity investment fund at the maximum amount of $600 million. NGP provides $10- to $60 million in equity to North American companies. Emerging Markets Finance International LLC, Denver, is a new advisor and arranger of private capital for international markets with U.S.-, Canada- and London-based independents. John Works Jr. is the company's managing director. He was head of the international producer-finance division for Shell Capital, Houston; president and chief executive officer for Rompetrol; deputy head of the project-finance advisory group with ABN Amro Bank; and was with JP Morgan. SGAM/4D Global Energy Fund has made its first closing with $60 million. Société Générale Asset Management, Paris, is sponsoring the fund and has committed $25 million. The fund has a target of $150 million and will invest in profitable, privately owned midmarket companies in the oil and gas industry, primarily in Europe. The fund will make 10 to 15 investments, avoiding speculative exploration, trading or technology risks.
Southwestern’s Haynesville Chief on M&A, Gulf Coast Advantages and RSG [WATCH]
2023-03-30 - Andy Huggins, senior vice president of the Haynesville division at Southwestern Energy Co. discusses M&A, how the company’s Appalachia and Haynesville assets complement each other and efforts to certify its natural gas as responsibly sourced, particularly for utilities and end-users in Europe.
Public, Private E&Ps Split on Permian Basin Drilling Strategies
2023-03-29 - The Permian led the nation in drilling rig activity in the past year, with data showing much of that growth coming from large, public upstream operators as private companies such as CrownQuest Operating, Iskandia Energy and Mack Energy have downshifted.
McDermott Wins Manatee FEED
2023-03-28 - The Trinidad and Tobago Manatee field is planned to start production in 2027.
Electrifying the Permian: BPX Energy Touts Emissions Reductions in the Basin
2023-03-28 - BPX Energy’s electrification efforts in the Permian Basin and the installation of centralized handling facilities are part of the operator’s roadmap to net zero emissions.
Norway Awards Nearly Four Dozen Offshore Permits
2023-01-10 - Equinor scooped up more than half the licenses awarded.