Latest Oil Capital News

New energy private equity firm Stellus Capital Management spins off from DE Shaw

Jan 25, 2012

Private investment firm Stellus Capital Management has completed its spin off from the D. E. Shaw Group. The Houston-based former direct investment unit of D.E. Shaw will continue its focus on making equity and debt investments in North American energy companies, particularly in upstream oil and gas businesses.

India’s Reliance may buy El Paso E&P unit

Jan 9, 2012

Reliance Industries Ltd., one of the largest companies in India, and Apollo Global Management LLC, a New York-based private equity firm, are looking to buy El Paso Corporation’s (NYSE: EP) oil and gas exploration and production business unit. As ranked by assets, El Paso is the 11th largest US oil and gas producer, according to the OGJ150 Quarterly Report.

JV streak continues as Chesapeake completes US$2.32B Utica Shale deal with Total

Jan 4, 2012

Building on its existing relationship with French oil major Total, Chesapeake Energy Corp. completed yet another joint venture to continue its progress developing unconventional resources—this time in the Ohio portion of the Utica Shale play.

Northstar Offshore sells GOM shelf assets to Korean Group for US201 million

Dec 29, 2011

Northstar Offshore Energy Partners LLC (NOEP) – a portfolio company of Natural Gas Partners (NGP) – said Dec. 29 that it has sold substantially all of its asset holdings to ANKOR E&P Holdings Corporation, STX Energy E&P Offshore Management LLC, and SCL Resources LLC for $201 million.

Petrobras chooses BNY Mellon as new ADR depositary bank

Dec 29, 2011

Brazilian oil giant Petrobras reports that Bank of New York Mellon was chosen to represent the company’s American Depositary Receipt (ADR) program after bidding. ADRs are negotiable securities in the US that represent one or more shares of a foreign company.

Flotek Industries to repurchase senior notes

Dec 28, 2011

Houston-based Flotek Industries Inc. (NYSE: FTK) announced Dec. 28 that it has entered into a repurchase agreement with the holders of the company’s 5.25% senior secured convertible notes due in 2028.

George W Bush to speak at NAPE Expo

Dec 28, 2011

Former President George W. Bush has been announced as the keynote speaker at the NAPE Charities Industry Luncheon, Feb. 23, at the George R. Brown Convention Center in Houston.

Sanchez prices IPO at $203M

Dec 14, 2011

Sanchez Energy Corp. has priced its initial public offering of 10,000,000 shares of its common stock at $22.00 per share for net proceeds, after underwriting discounts and commissions and estimated offering expenses, of approximately $203 million.

Rosetta Resources to allocate $590M of $640M 2012 budget to Eagle Ford activities

Dec 12, 2011

Rosetta Resources Inc. has just announced the approval of its 2012 capital budget of $640 million which includes approximately $590 million allocated for activities in the liquids-rich window of the Eagle Ford shale in South Texas.

Magnum Hunter Resources sees expanded senior bank credit facility

Dec 7, 2011

Magnum Hunter Resources Corp. has seen its borrowing base under its $350 million Senior Bank Facilities, which consist of a $250 million Senior Revolving Credit Facility and a $100 million Term Loan Facility, increased by $32.5 million from $167.5 million to $200 million.

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