East West Petroleum Corp. said on March 14 that CEO David Sidoo stepped down after being named in legal proceedings from the U.S. government regarding a college admissions scandal.
Sidoo, 59, was arrested on March 8 and was charged with conspiracy to commit fraud for allegedly paying $200,000 to the scheme mastermind, William “Rick” Singer, to arrange for people to take the SAT admissions test for his two sons, according to U.S. court documents reviewed by Reuters.
Financial Times reports that deal could be signed by next week.
Blackstone Energy Partners made an equity commitment of $500 million in Waterfield Midstream, a Permian Basin oil and gas water management platform.
Concho Resources said “capital discipline and moderating activity” would help the company, which focuses in the Permian Basin, generate more cash this year