Apollo, Blackstone seek buyers for Canadian oil producer Ridgeback
Apollo Global Management Inc and the credit arm of Blackstone Group Inc...
Apollo Global Management Inc and the credit arm of Blackstone Group Inc are looking to sell Canadian oil and gas producer Ridgeback Resources for more than C$1 billion ($765.58 million), four sources familiar with the matter said on Tuesday.
Two investment banks have been hired to manage the sale of Ridgeback, one of the largest private oil producers in Canada, the sources said. They added no deal for Ridgeback was guaranteed and the company's assets could be sold in multiple transactions.
MarketWatch: U.S. stocks finish slightly higher after Fed minutes
U.S. stocks closed higher on Wednesday, with the S&P 500 and Nasdaq Composite clinching...
U.S. stocks closed higher on Wednesday, with the S&P 500 and Nasdaq Composite clinching the third day of gains, after minutes from the Federal Reserve's latest meeting hinted at another aggressive rate hike from the central bank later this month. The Dow Jones Industrial Average closed 69.40 points, or 0.2%, higher at 31,037.22. The S&P 500 finished 13.72 points, or 0.4%, higher at 3,845.11. The Nasdaq Composite climbed 39.61 points, or 0.4%, to 11,361.
Oil and natural gas companies sealed 123 oil and natural...
Oil and natural gas companies sealed 123 oil and natural gas deals totaling $107 billion in the year ended May 15, and energy dealmaking activity will likely accelerate in the second half of the year as oil prices remain elevated, according to a report from international consulting firm PwC. "Private equity deals are on pace for another record year as traditional oil and gas investments become attractive once again," said Seenu Akunuri, principal with PwC.
New Fortress Energy forges LNG joint venture with Apollo
New Fortress Energy will transfer 11 liquefied natural gas infrastructure vessels and storage units to...
New Fortress Energy will transfer 11 liquefied natural gas infrastructure vessels and storage units to a new joint venture with Apollo Global Management in a deal worth $2 billion, the company said Tuesday. New Fortress will have a 20% stake in the venture and has agreed to charter 10 of the 11 vessels for up to 20 years.
BlackBrush Oil & Gas Explores South Texas Asset Sale
BlackBrush Oil and Gas has placed some of its assets in South Texas for sale, seizing...
BlackBrush Oil and Gas has placed some of its assets in South Texas for sale, seizing on a surge in energy prices, people familiar with the matter said.
The San Antonio, a Texas-based company, in which Bain Capital Specialty Finance is a major owner, has hired an investment bank to run an auction for more than 30,000 net acres (12,140 hectares) in the Eagle Ford Shale, which produce around 11,800 boe/d.
The baseline valuation of the asset's production would be around $430 million, although BlackBrush may seek a sale price in the “high hundreds of millions of dollars” to account for substantial undeveloped acreage in the area, the sources said.
