As the United Kingdom fought for its survival during World Way II, a team of American oil drillers, derrickmen, roustabouts and motormen...
AUTHOR: Range Resources Vice President of Drilling, Don Robinson as reported in the Journal of Petroleum Technology, August 2018. In early 2018, with...
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Kimbell Royalty Partners, LP reported Q2 EPS after closing the Haymaker acquisition in July.
There is no denying that the oil & gas industry has struggled in recent years with varying opinions on the effects of...
U.S. oil producer Apache Corp is putting its West Texas pipeline assets into a joint venture with investment firm Kayne Anderson that...
OKLAHOMA CITY, Aug. 7, 2018 /PRNewswire/ –/PRNewswire/ Continental Resources, Inc. today announced second quarter operating and financial results. The Company reported net income of $242.5 million,...
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OKLAHOMA CITY, Aug. 6, 2018 /PRNewswire/ — Continental Resources, Inc. (NYSE: CLR) (The “Company”) today announced that Franco-Nevada (NYSE & TSX: FNV) has agreed to pay...
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U.S. stock indexes finished lower on Tuesday. The S&P 500 and the Nasdaq Composite snapped a multisession rally after equities bounced back from a steep selloff earlier this month.
The S&P 500 was off 11.13 points, or 0.2%, to end at 5,597.12. The Nasdaq Composite fell 59.83 points, or 0.3%, to finish at 17,816.94.
Tuesday’s declines ended the eight-day winning streaks for the S&P 500 and Nasdaq. According to Dow Jones Market Data, the modest selloff also interrupted the S&P 500's longest winning streak in 20 years.
The Dow Jones Industrial Average lost 61.56 points, or less than 0.2%, to end at 40,834.97. According to FactSet data, the blue-chip index broke its five-session winning streak on Tuesday.
Markets will focus on Wednesday's release of payroll revisions and the Federal Open Market Committee's July meeting minutes, followed by jobless claims on Thursday and Chair Jerome Powell's remarks at the Jackson Hole Economic Symposium on Friday.
Quantum Capital Group has acquired Caerus Oil and Gas for about $1.8 billion, including liabilities.
Houston, Texas-based Quantum announced the deal's closing in a statement on Monday. Bloomberg News reported in June that Quantum would buy the Rocky Mountain oil and gas company. It’s doing the deal through portfolio companies QB Energy and Koda Resources.
QB Energy is acquiring Caerus's producing upstream assets, gathering and compression midstream assets, and all other assets in the Piceance Basin. Koda is taking a similar set of assets in the Uinta basin.
“The Piceance assets represent the largest single asset base atop the second largest gas resource in the continental U.S.,” Roger Biemans, chief executive officer of QB Energy, said in a statement.
Caerus is backed by Oaktree Capital Management, Anschutz Investment Co., and Old Ironsides Energy. This deal is a relatively rare example of a so-called secondary buyout in U.S. oil and gas, where corporate buyers have typically acquired private equity-backed assets.
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By Felicity Bradstock for Oilprice.com | The United Nations Development Programme (UNDP) and the...
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