Billionaire John Arnold Backing Energy-focused Credit Fund
John Arnold, a former Enron trader and hedge fund honcho known as the “king of natural gas,”...
John Arnold, a former Enron trader and hedge fund honcho known as the “king of natural gas,” is backing an energy-focused credit fund that will aim to take advantage of commodity prices at multi-year highs, sources familiar with the matter said.
Arnold, who reportedly made around $750 million trading natural gas for Enron in the same year it went bankrupt, is backing Energy Opportunities Capital (EOC) Partners LLC through his family office.
Centaurus Capital LP has committed around $500 million in equity for EOC Partners, according to the sources.
Helix to Acquire Privately Held Alliance for $120 Million
Helix Energy Solutions Group Inc. agreed on May 17 to acquire Alliance in...
Helix Energy Solutions Group Inc. agreed on May 17 to acquire Alliance in the Gulf of Mexico for $120 million cash at closing, plus the potential for post-closing earnout consideration.
Alliance, a Louisiana-based privately held company, provides services in support of the upstream and midstream industries in the Gulf of Mexico shelf, including offshore oil field decommissioning and reclamation, project management, engineered solutions, intervention, maintenance, repair, heavy lift and commercial diving services.
Bakken Shale oil, gas production trends diverged in 2021
North Dakota's Bakken Shale experienced a 9% increase in annual natural gas production in 2021, even...
North Dakota's Bakken Shale experienced a 9% increase in annual natural gas production in 2021, even as crude oil production fell by 6%, according to the Energy Information Administration. Gas output averaged 2.97 billion cubic feet per day last year, an annual record, while the gas flaring rate continued to decline, averaging 7.5% in December.
EIA projects higher US shale, gas production in June
The Energy Information Administration forecasts that US shale oil production will jump by 142,000 barrels...
The Energy Information Administration forecasts that US shale oil production will jump by 142,000 barrels per day to 8.76 million bpd in June, the highest level since March 2020, driven in large part by gains in the Permian Basin, where output is seen hitting a record 5.22 million bpd. Meanwhile, shale natural gas production is expected to rise by 0.8 billion cubic feet per day to an all-time high of 91.8 Bcf/d in June.
What's more, G7 and EU countries are weighing seizures of Russian central bank assets for Ukraine aid.
In addition to facing a historic default, two top oil execs say Russia will likely be shut out permanently from global energy markets. The shock of another war on European soil will be a wake up call for the continent, one executive said.
