EnCap looking to sell oil producer Ameredev II for $4bn
Private equity firm EnCap Investments is considering the sale of its portfolio company...
Private equity firm EnCap Investments is considering the sale of its portfolio company Ameredev II, a US-based oil producer, reported Reuters. EnCap originally invested $400 million in Ameredev II in 2017 after closing the sale of its predecessor, Ameredev I, to Callon Petroleum Co(CPE.N) that same year.
With the sale of the Delaware Basin operator, the equity firm looks to raise over $4bn, including debt, reported the news agency, citing people familiar with the matter.
In December, EnCap combined two of its portfolio companies, Advance Energy Partners, and Ameredev II, to create one of the largest privately-owned oil producers in the Delaware Basin, a part of the larger Permian Basin.
At least 35 people were killed and more than 130 injured...
At least 35 people were killed and more than 130 injured yesterday after a series of Russian missile strikes on a military training center in western Ukraine. Less than 15 miles from the nearest border crossing point between Ukraine and Poland, it marks the deadliest westward attack during the two-week war (see map updates).
Finally, western intelligence suggests Russia may be considering the use of chemical weapons—an act generally considered a war crime under the Geneva Conventions.
War sparks largest-ever outflow from European stocks
Investors are shedding huge amounts of European stock-market exposure. Analysts at...
Investors are shedding huge amounts of European stock-market exposure. Analysts at Bank of America said in a note last week that the war in Ukraine kicked off the largest ever outflow from European equities in a single week, with investors pulling a record $13.5 billion from the market.
That number more than doubles the previous week's record-setting outflows, according to funds tracker EPFR.
"Russia's assault of Ukraine, and the increasingly indiscriminate approach taken by Russia to sustain that assault, forced European-focused investors to weigh a range of possibilities ranging from recession in key markets to a broadening of the current conflict," EPFR said.
Four-dollar gasoline hits Oklahoma. The American Automobile Association reported Sunday...
Four-dollar gasoline hits Oklahoma. The American Automobile Association reported Sunday that while the state’s average was only $3.86, at least six counties had averages above $4 including Coal County with the highest level at $4.13 a gallon for regular gasoline.
Oklahoma’s new average of $3.86 is 26 cents higher than one week ago and 71 cents more than a month ago. Last year at this time, Oklahoma’s average was $2.66.
As of Sunday, AAA reported the national average was $4.32 a gallon. It also determined through a nationwide poll that for many Americans, 59%, a national average price of $4 is enough to force them to make changes in their driving habits or lifestyle.
From Twitter: Oil resumed its decline after Iran carried out a missile strike in Iraq
Oil resumed its decline after Iran carried...
Oil resumed its decline after Iran carried out a missile strike in Iraq, while Russia’s bombardment of Ukraine prompted more calls to sideline the OPEC+ producer https://t.co/9QBEk0Bjaq
