Continental Resources wraps up shareholders meeting
Continental Resources held its annual shareholders meeting last week in Oklahoma City where seven directors,...
Continental Resources held its annual shareholders meeting last week in Oklahoma City where seven directors, including company founder Harold Hamm were chosen to the Board of Directors.
Hamm was chosen along with Continental President and CEO William Berry. Others elected by shareholders were: Shelly Lambertz, Lon McCain, John T. McNabb, II, Mark E. Monroe and Timothy G. Taylor.
PE-backed Gas Producer Terra Energy Partners Explores $2.5 Billion Sale
Private equity firms Kayne Anderson Capital Advisors and Warburg Pincus...
Private equity firms Kayne Anderson Capital Advisors and Warburg Pincus are exploring a sale of Terra Energy Partners LLC, seeking as much as $2.5 billion, including debt, for the natural gas producer, people familiar with the matter said.
The buyout firms launched an auction process to sell their majority stake in Terra earlier this month with the help of an investment bank, the sources said.
Houston-headquartered Terra is the largest gas producer in the Piceance Basin of Colorado, with 370,000 net acres cranking out around 530 MMcf/d of gas, according to its website.
Terra was formed in 2015 with backing from Kayne Anderson. In 2016, Warburg joined Kayne Anderson as an equal partner after it helped fund the acquisition of Terra’s current acreage position from WPX Energy for around $910 million.
Russia stops gas flows to Finland over payments dispute
OSLO (Reuters) - Russia's Gazprom on Saturday halted gas exports to neighboring Finland, in...
OSLO (Reuters) - Russia's Gazprom on Saturday halted gas exports to neighboring Finland, in the latest escalation of an energy payments dispute with Western nations.
Gazprom Export has demanded that European countries pay for Russian gas supplies in roubles because of sanctions imposed over Moscow's invasion of Ukraine, but Finland refuses to do so.
The move by Gazprom comes at the same time as Finland is applying to join the NATO military alliance, a decision spurred by Russia's invasion of Ukraine.
US Drillers Add Oil and Gas Rigs for Ninth Week in a Row
U.S. energy firms this week added oil and natural gas rigs for a ninth week in a row, data showed...
U.S. energy firms this week added oil and natural gas rigs for a ninth week in a row, data showed on May 20, as mostly small producers respond to high prices and prodding by the government to ramp up output.
The oil and gas rig count, an early indicator of future output, rose 14 to 728 in the week to May 20, its highest since March 2020, energy services firm Baker Hughes Co. said in its closely followed report.
Baker Hughes said that puts the total rig count up 273, or 60%, over this time last year.
U.S. oil rigs rose 13 to 576 this week, their highest since March 2020, while gas rigs gained one to 150, their highest since September 2019.
Texas Power Use Hits Monthly Record Again During Heatwave
Power demand in Texas hit a monthly record on Thursday and will likely break that high on Friday...
Power demand in Texas hit a monthly record on Thursday and will likely break that high on Friday as consumers keep air conditioners cranked up to escape a lingering spring heatwave.
The Electric Reliability Council of Texas (ERCOT), which operates the grid for most of the state, said conditions were normal early Friday.
At the start of the current heat, ERCOT was forced to ask customers to conserve energy on May 13 after several power plants shut unexpectedly, causing real-time prices to soar to over $4,000 per megawatt-hour (MWh).
But prices have settled down since. Real-time prices have remained below $100 per MWh since Wednesday night.
