Sources say that Citizen Energy, a producer of shale oil and gas, will buy Validus in a deal worth more than $2 billion.
According to sources familiar with the situation, Validus Energy, a privately held oil and natural gas producer, has agreed to purchase Citizen Energy, a rival company, for over $2 billion including debt. The U.S. Shale industry has seen a record wave of consolidation. After the COVID, oil prices surged and buyers were eager to secure the best drilling locations.
BP Launches $3 Bln Sale of US Onshore Assets
Britain's BP has launched the sale of U.S. oil and gas onshore assets that could raise more than $3 billion to help pay for other fields in the United States it bought in October from BHP, industry and banking sources said.The sale proceeds will partly fund the $10.5 billion acquisition of BHP's onshore…
Blue Water Energy Partners with Apex International Energy
Apex International Energy announced that affiliates of Blue Water Energy (BWE) have agreed to partner with Apex and join the existing investors: Warburg Pincus LLC, International Finance Corporation (IFC) and company management.The oil and gas exploration and production company focused on Egypt and other…
Petrobras Output in Campos Drops to Lowest Level in 17 Years
Oil production by Brazilian state-led Petroleo Brasileiro SA in the Campos basin fell 1.4 percent in June over the previous month to 1.042 million barrels a day, its lowest level since 2001, as mature fields decline, according to company data.Output has dropped 15.8 percent in 12 months due to the ageing…
North American Energy IPOs Set to Rebound in 2018
Higher oil prices and a positive earnings outlook for energy companies are expected to fuel a rebound in North American oil and gas initial public offerings in 2018, with bankers betting investors will remain optimistic about the sector even if the broader stock market remains volatile. IPOs in the United States and Canada could reach their highest in four years…
Archibald Joins Woodside Board
The Board of Woodside has appointed Mr Larry Archibald as a non-executive director effective 1 February 2017. Mr Archibald joins Woodside as an independent director. Woodside Chairman Michael Chaney said that Mr Archibald’s significant international experience in oil and gas exploration and impressive…
WPX Energy to Shed Colorado Assets
Oil and gas producer WPX Energy Inc said it would sell natural gas assets in Colorodo's Piceance basin for $910 million to boost its liquidity amid a prolonged slump in oil prices. WPX said its unit, WPX Energy Rocky Mountain LLC, will be bought by Terra Energy Partners LLC, a private company owned by investment manger Kayne Anderson and private equity firm Warburg Pincus.
Prison Labor Keeps Solar Manufacturing at Home
One of the largest companies to manufacture solar panels in the United States uses a surprising resource to keep costs low and compete against producers from China: prison labor. Suniva Inc, a Georgia-based solar cell and panel maker that is backed by Goldman Sachs Group Inc, farms out a small portion…
New Oil Rush? Private Equity Starts to Buy Energy Assets
Earning $7 on the dollar is any investor's dream. Buyout group Apollo has shown with its investment in oil exploration and production company Athlon Energy that such reveries can become reality. A slump in oil prices has spurred activity among private equity investors around the world hoping for their own bumper returns by scooping up assets on the cheap.
Warburg Pincus Raises $4 billion Private Equity Fund for Energy
Warburg Pincus LLC said on Monday it had raised $4 billion for its first energy-focused private equity fund, exceeding its $3 billion target and making it the latest investment firm looking to tap into opportunities in North America's shale gas boom. Warburg Pincus joins peers such as Blackstone Group…
Private Equity Firms Double down on Venari's Offshore Drilling
Gulf of Mexico deepwater oil explorer Venari Resources LLC said on Wednesday it had raised $1.3 billion from original backers Warburg Pincus LLC, Kelso & Co, the Jordan Company and Temasek Holdings, as well as new investors. GIC, Singapore's sovereign wealth fund, and BlackRock Inc's private equity arm participated in the new round of equity commitments…
Warburg Pincus to Invest up to $600m in Zenith Energy
Private equity firm Warburg Pincus LLC said on Monday it had agreed to invest up to $600 million in equity in Zenith Energy, a developer and operator of terminals that store and distribute petroleum, natural gas liquids and petrochemicals. The deal is a bet on growing crude production as well as on Zenith Chief Executive Jeffrey Armstrong…
Warburg Pincus Invests Up to $500m in Navitas
Warburg Pincus LLC, the New York-based private equity firm, is investing up to $500 million in oil and natural gas pipeline company Navitas Midstream Partners. Woodlands, Texas-based Navitas will have access to the development capital to acquire and develop midstream assets across multiple oil and gas basins in North America.
