Biden Could Tap Diesel Reserve In A Bid To Ease Fuel Crunch
A new Federal Energy Regulatory Commission analysis of summer energy markets predicts that US natural...
A new Federal Energy Regulatory Commission analysis of summer energy markets predicts that US natural gas demand will grow faster than domestic dry natural gas production this summer compared with last summer, by 4.8% versus 3.4%. Net gas exports will drive the demand growth, surging by 29.4% year over year this summer, which in turn will put upward pressure on gas prices, the report forecasts.
Ruble Hits 5-Year High as Gas Buyers Bend to Putin Demand
The ruble closed at the highest level in five years against the euro as more European companies appeared...
The ruble closed at the highest level in five years against the euro as more European companies appeared to be complying with Vladimir Putin’s demand that they switch to paying in Russia’s currency for natural gas.
The ruble jumped as much as 9% against the euro and ended Friday’s session 2.8% stronger against the dollar in Moscow. The Russian currency is the best performer globally this year.
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.
