E & P News
Ridgemar Energy Gets Funding from Large PE Firm, Forms New Company
Ridgemar Energy, said it recieved an equity commitment from Carnelian Energy Capital Management, . Ridgemar, headquartered in Houston, is pursuing an acquisition and development strategy in select onshore…
Northern Oil's COO Takes Over President Role; New Board Member Tapped
Northern Oil and Gas, Inc. announced a management promotion and an addition to the Board of Directors. Northern's Chief Operating Officer, Adam Dirlam, has been promoted effective immediately…
Independence, Contango Finalize Merger; Rebrand as PE-Backed Crescent Energy Co.
Contango Oil & Gas Company has finalized its merger with Independence Energy Corp., and the new entity has rebranded as Crescent Energy Company. Crescent is backed by PE…
Ring Energy's Borrowing Base Reaffirmed at $350MM
Ring Energy Inc. announced that the borrowing base under its senior revolving credit facility was recently successfully reaffirmed at $350 million. Key Highlights: Reaffirmation of the borrowing base…
Talos Reports Resignation of Two Directors from PE Firms
Talos Energy Inc. announced that the two representatives of Apollo Global Management and one of the two representatives of Riverstone Holdings have resigned from the Company's Board of…
Diversified Wraps Up PE-Backed Deal for Tapstone's Mid-Con Assets
Diversified Energy Company PLC has closed its acquisition of Oklahoma-based Tapstone Energy Holdings, LLC and related party KL CHK SPV, LLC. Oaktree Capital Management made a co-investment in…
Diversified Energy's Credit Line Grows 32% to $825MM
Diversified Energy Company PLC's bank lending group, led by KeyBank National Association, completed its semi-annual redetermination of the Company's senior secured credit facility. The Bank Group approved an…
Chevron Spending 20% More in 2022; $3.0B Earmarked for the Permian
Chevron Corp. announced its 2022 capital plans. 2022 Overview - Capital Budget: $15 billion (the low end of its $15 to $17 billion guidance range) - this is…
Crescent Point Energy Ups 2022 Capex 44% YOY to ~$900 Million
Crescent Point Energy Corp. has detailed its formal 2022 capital expenditures budget and production guidance, as well as shareholder return and divident information. 2022 Overview - Capital Budget:…
Ranger Oil Ups Oil Sales Guidance for 4Q21; Updates Hedge Book
Ranger Oil Corp. announced an increase in the Company's oil sales guidance for the fourth quarter 2021 and updated its current hedge position. 4Q21 Oil Output Increase The…
ConocoPhillips Bolsters Spending by 30% for 2022; Bets Bulk on Lower 48
ConocoPhillips has detailed its 2022 capital plan on the heels of closing its multi-billion dollar acquisition of Shell's Permian assets. 2022 Plans - Capital Budget: $7.2 billion -…
ConocoPhillips Seals Multi-Billion Dollar Deal for Shell's Permian Portfolio
ConocoPhillips has completed its acquisition of Shell Enterprises LLC's prolific Delaware basin position for $8.6 billion in cash (adjusted from $9.5 billion prior to closing). The assets include…
Southwestern Energy Bolsters Hedge Portfolio
Southwestern Energy Co. announced additional natural gas derivatives implemented by the Company and GEP Haynesville, LLC to support the repayment of the borrowings contemplated by the Company to…
Chesapeake Taps Former BPX Exec as New CFO
Chesapeake Energy Corp. announced that Mohit Singh has been appointed Executive Vice President and Chief Financial Officer, effective December 6, 2021. About Singh: For the last six years,…
Diamondback's Chief Engineer to Retire; Two Execs Promoted to Fill Role
Diamondback Energy, Inc. has announced a series of leadership changes. Russell Pantermuehl, currently Executive Vice President and Chief Engineer, will retire from his current role at the end…
| Commodity | Price | % Change |
|---|---|---|
| Brent Crude Oil | 94.99 | -14.10% |
| Light Crude Oil | 89.46 | -12.37% |
| Natural Gas | 3.04 | 10.14% |