SilverBow Acquires Sundance, SandPoint in $425 Million A&D Double Play
SilverBow Resources Inc. agreed on April 14 to acquire Sundance Energy Inc....
SilverBow Resources Inc. agreed on April 14 to acquire Sundance Energy Inc. and SandPoint Operating LLC, two independent Eagle Ford Shale operators, for a combined $425 million-plus up to $15 million contingent payments based on future commodity prices. “There is strong industrial logic for these acquisitions as the acreage overlap will allow SilverBow to drive synergies and optimize development plans,” SilverBow CEO Sean Woolverton commented in a company release.
U.S. benchmark mortgage rate hits highest level in over a decade
The average rate on a 30-year fixed-rate mortgage was 5% as of the week ending April 14,...
The average rate on a 30-year fixed-rate mortgage was 5% as of the week ending April 14, representing an increase of 28 basis points from the previous week, Freddie Mac FMCC, -2.22%reported Thursday. One basis point is equal to one-hundredth of a percentage point, or 1% of 1%.
It’s the first time since February 2011 that the benchmark mortgage product has reached the 5% mark. Mortgage rates now stand nearly 2 percentage points higher than they were during the popular spring home-buying season in 2021. This time last year the average rate on the 30-year fixed-rate mortgage was 3.04%.
Putin Says Russia Can Redirect Energy Exports Away from the West
Russia can easily redirect exports of its vast energy resources away from the West to countries that...
Russia can easily redirect exports of its vast energy resources away from the West to countries that really need them while increasing domestic consumption of oil, gas, and coal, President Vladimir Putin said on April 13.
The U.S., Canada, Britain, and Australia have imposed bans on Russian oil imports in response to what Moscow calls a special military operation in Ukraine, while the EU remains divided on the issue.
“When it comes to Russian oil, gas, and coal, we will be able to increase their consumption on the domestic market, stimulate the deep processing of raw materials,” Putin said at a televised meeting with officials to discuss the development of the Russian Arctic.
Carnelian Energy Closes Fourth Fund at $975 Million Upsized Hard Cap
Carnelian Energy Capital Management LP closed its oversubscribed and upsized fourth...
Carnelian Energy Capital Management LP closed its oversubscribed and upsized fourth fund, Carnelian Energy Capital IV LP, with $975 million of capital commitments.
Houston-based Carnelian is an energy investment firm managing a family of private equity funds focused on investments across the North American energy sector.
Founded in 2015, Carnelian Energy Capital has approximately $2.8 billion of cumulative capital commitments, according to the release.
Elon Musk wants to buy Twitter in a deal valuing the social-media company at more than $43 billion
Shares of Twitter Inc. soared Thursday, after the social-media platform’s largest...
Shares of Twitter Inc. soared Thursday, after the social-media platform’s largest shareholder, Elon Musk, disclosed a bid to buy the remainder of the San Francisco–based company’s stock that he doesn’t already own so he can transform it into the world’s “platform for free speech.”
Musk, the “techno king” of Tesla Inc. and founder of SpaceX, also indicated that if his “best and final” bid isn’t accepted, he might sell off his stake.
