Decreased E&P activity hasn’t helped prices recover, partly because improved efficiencies have improved production with volumes dropping only recently.
Financial players insist struggles are temporary and that MLP structure has plenty of mileage left as investment vehicle.
The Congressional Budget Office estimates federal lease revenues would increase by $1.4 billion over a 9-year period, but Interior Department struggles to maintain collection staff.
‘Vulnerability doesn’t sound like weakness. It’s about truth, courage and the willingness to face the uncertain,’ says Kayne Anderson’s Chuck Yates.
After purchasing Permian Basin acreage for $2.75 billion, WPX Energy is set on selling assets in the San Juan Basin, Kansas and the Piceance Basin as it clears the deck of debt.
The board will consider termination of participation in Interconnector on Nov. 30, Gazprom said in a regulatory disclosure. It is unclear whether Gazprom will sell the 10% stake, Reuters reported.
Glencore will assume risks associated with loading oil and chartering vessels at ports where operations have become more unpredictable. Libya will gain steady sales to international buyers, Reuters said.
In its 41-year history, Simmons has executed more than 830 strategic advisory transactions and 330 private and public financings with a total value of about $260 billion.
As adjusted for the split, the amount of units was reduced to about 68.6 million outstanding, down from about 685.5 million; the $1.93 unit price was adjusted to $19.30 per unit.
The registered direct offering will not have an underwriter or placement agent. Net proceeds will support working capital and general corporate purposes. Offering is scheduled to close Nov. 25.
Gross proceeds totaled about CA$460 million. Net proceeds will support capex associated with the CA$6.5 billion suite of secured growth projects, debt payments and general corporate purposes.
Noble Midstream will continue to evaluate the timing for the proposed offering as market conditions develop, the company said.