Darren
Barbee
Oil and Gas Investor
Equinor Exits Ireland with Sale of Gas Field Stake
Equinor has agreed to sell its stake in the Corrib gas field to partner Vermilion for a consideration of $434 million.
Oil and Gas Investor A&D Trends: Reality and the Damage Done
Volatility in prices has some “arguing in favor of accelerating the transition away from fossil fuels” and those who still see fossil fuels are needed.
EnCap Flatrock’s Ironwood, Nuevo Midstream Combine Eagle Ford Assets
Both financially backed by private equity-firm EnCap Flatrock Midstream, Ironwood II said in a release it had completed an asset merger and assumed management of Nuevo Midstream Dos’ Eagle Ford assets.
Diversified Energy Sells Chunk of Recently Acquired Tanos Haynesville Acreage
The divestiture effectively reduces Diversified Energy’s investment in the previously announced Tanos transaction by 30% to $81 million from the original $118 million, net of purchase price adjustments.
The Latest
Public Capital
Lundin Energy Reportedly Considering Sale or Merger
Responding to what it called market rumors, Lundin Energy said it “continuously engages” in opportunities and discussions that could be of value to its owners.
November 29, 2021
Lease Sales
Marketed: APX Energy Property Package in Illinois, Indiana
APX Energy LLC retained EnergyNet for the sale of a package of nonoperated working interest plus proved undeveloped locations in Illinois and Indiana through a sealed-bid offering closing Dec. 9.
November 29, 2021
Exploration & Production
Equinor Exits Ireland with Sale of Gas Field Stake
Equinor has agreed to sell its stake in the Corrib gas field to partner Vermilion for a consideration of $434 million.
November 29, 2021
Exploration & Production
Biden Calls for Higher Drilling Fees in Review of Federal Oil, Gas Leasing Program
The Interior Department report said the current federal oil and gas leasing program “falls short of serving the public interest” and called for new rules to boost royalty rates, bonding rates and other fees for producers.
November 29, 2021
Business
Reliance, Aramco Reportedly Call Off $15 Billion Deal amid Valuation Differences
Sources say talks broke down between Reliance Industries and Saudi Aramco over how much Reliance’s oil-to-chemicals business should be valued as the world seeks to move away from fossil fuels and reduce emissions.
November 29, 2021
Private Equity
Private Equity Investor Lime Rock Closes $203 Million Acquisition Fund
The acquisition fund, in which the Goldman Sachs Asset Management Vintage Funds served as the lead investor, received $134 million in new capital commitments to it and a separate co-investment vehicle.
November 23, 2021
People
On the Move (Week of Nov. 22, 2021)
New hires, promotions and appointments continue to fuel the industry's workforce.
November 22, 2021
People
Forty Under 40: Josh Stevens, U.S. Energy
Today’s featured Forty Under 40 honoree is Josh Stevens, who, to date, has impacted more than $100 million in acquisitions at U.S. Energy Development Corp. in his current role as vice president of finance.
November 22, 2021
Private Equity
Buyout Firm Apollo to Acquire Stake in Houston-based Energy Storage Operator Broad Reach
Broad Reach owns or is constructing around 1.4 gigawatts hours of energy storage capacity and a 21 gigawatt portfolio of utility-scale wind, solar and energy storage power projects across the United States.
November 22, 2021
People
Forty Under 40: John Fossum, Petrie Partners
Today’s featured Forty Under 40 honoree is John Fossum, managing director with Petrie Partners focusing on strategic advisory, M&A, asset divestitures and capital raising for the energy sector.
November 19, 2021