Eagle Ford, Dallas

APA Announces over $700 Million in Asset Sales from Two Transactions for Non-core Texas Properties

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월요일, 5월 20, 2024
Barclays, APA Corporation, TD Securities, Sale, Eagle Ford, Dallas

Combined, the properties represent estimated net production in the first-quarter 2024 of 13,000 barrels of oil equivalent per day (Mboe/d), of which just over one-third is oil.

Key Points: 
  • Combined, the properties represent estimated net production in the first-quarter 2024 of 13,000 barrels of oil equivalent per day (Mboe/d), of which just over one-third is oil.
  • Proceeds from these asset sales will be used primarily to reduce nearer-term borrowings.
  • Closing for both sales is expected early in the third-quarter 2024.
  • These mineral and royalty interests were primarily non-operated properties that produced approximately 2.0 Mboe/d net to Apache during the first quarter 2024.

Crescent Energy to Acquire SilverBow Resources for $2.1 Billion, Creating a Leading Growth Through Acquisition Company with a Premier Eagle Ford Position

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목요일, 5월 16, 2024
Energy, Other Energy, Oil, Gas, Vinson & Elkins, BofA Securities, Wells Fargo, Jefferies Group, Committee, Growth, Share repurchase, Central Time, Eagle Ford, Dallas, Acquisition, All, Webcast, Gibson Dunn, Potential, Security (finance)

Crescent Energy Company (NYSE: CRGY) (“Crescent” or the “Company”) and SilverBow Resources, Inc. (NYSE: SBOW) (“SilverBow”), today announced that they have entered into a definitive agreement pursuant to which Crescent will acquire SilverBow in a transaction valued at $2.1 billion.

Key Points: 
  • Crescent Energy Company (NYSE: CRGY) (“Crescent” or the “Company”) and SilverBow Resources, Inc. (NYSE: SBOW) (“SilverBow”), today announced that they have entered into a definitive agreement pursuant to which Crescent will acquire SilverBow in a transaction valued at $2.1 billion.
  • “This is a compelling transaction for shareholders of both companies, creating a premier growth through acquisition platform,” said John Goff, Crescent’s Chairman of the Board.
  • The SilverBow team has built a complementary and high-quality position in the Eagle Ford, and we believe the combination offers a unique value proposition in our evolving sector.
  • The SilverBow team built an incredible company, and today’s exciting announcement is a testament to their hard work and dedication.

Leading Independent Proxy Advisory Firms ISS and Glass Lewis Both Recommend that SilverBow Resources Shareholders Vote “FOR” the Re-Election of SilverBow’s Three Director Nominees

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목요일, 5월 9, 2024
Oil, Gas, Energy, Shirin David, Internet, ISS, Minyard, Annual general meeting, Institutional Shareholder Services, Eagle Ford, Dallas, Glass Lewis, Disclosure, Gold, Acquisition, Failure, Dissident, Glass, Telephone, ALL, Security (finance)

ISS and Glass Lewis recognize that SilverBow has the right Board and the right strategy to continue to deliver enhanced value for shareholders.

Key Points: 
  • ISS and Glass Lewis recognize that SilverBow has the right Board and the right strategy to continue to deliver enhanced value for shareholders.
  • The SilverBow Board remains committed to acting in the best interests of the Company and ALL SilverBow shareholders.
  • SilverBow strongly urges shareholders to follow ISS and Glass Lewis’s recommendations and vote “FOR” the re-election of SilverBow’s three highly qualified director nominees – Gabriel L. Ellisor, Kathleen McAllister and Charles W. Wampler – on the WHITE proxy card today.
  • If you have already voted using a gold proxy card, you may cancel that vote
    simply by voting again using the Company’s WHITE proxy card.

Magnolia Oil & Gas Corporation Announces First Quarter 2024 Results

Retrieved on: 
화요일, 5월 7, 2024
Oil, Gas, Energy, LOE, Total, Common, D&C, Austin, Texas, Class, Webcast, Eagle Ford, Dallas, Public expenditure, Knowledge, Interest, Common stock, Acquisition, Share repurchase, Bank statement, GAAP, Lunar phase, Growth

First quarter D&C capital represented approximately 52% of adjusted EBITDAX and was 15% lower than the prior-year’s first quarter.

Key Points: 
  • First quarter D&C capital represented approximately 52% of adjusted EBITDAX and was 15% lower than the prior-year’s first quarter.
  • Total production in the first quarter of 2024 grew 7% on a year-over-year basis to 84.8 thousand barrels of oil equivalent per day (“Mboe/d”) including 37.5 thousand barrels per day of oil.
  • On April 30, 2024, Magnolia acquired oil and gas properties in Giddings from a private operator encompassing roughly 27,000 net acres for approximately $125 million.
  • Includes $2.9 million of share repurchases incurred during the first quarter, but settled during the second quarter of 2024, and excludes $1.7 million of share repurchases incurred during the fourth quarter of 2023, but settled during the first quarter of 2024.

SilverBow Resources Mails Letter to Shareholders Highlighting Proven M&A Strategy Overseen by Highly Experienced Board

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월요일, 5월 6, 2024
Oil, Gas, Energy, CFO, E&P, ISS, Annual general meeting, Eagle Ford Group, Eagle Ford, Dallas, Glass Lewis, Acquisition, Corporate title, KeyBank, PV-10, Letter, Eagle, Management

SilverBow Resources, Inc. (NYSE: SBOW) (“SilverBow” or the “Company”) today mailed a letter to shareholders in connection with the Company’s 2024 Annual Meeting of Shareholders (the “2024 Annual Meeting”).

Key Points: 
  • SilverBow Resources, Inc. (NYSE: SBOW) (“SilverBow” or the “Company”) today mailed a letter to shareholders in connection with the Company’s 2024 Annual Meeting of Shareholders (the “2024 Annual Meeting”).
  • The full text of the letter follows:
    SilverBow Resources recently released outstanding first quarter financial and operating results, demonstrating the merits of our business strategy and the value that is being delivered by our prior acquisitions.
  • Our performance in the market is directly attributable to a proven strategy, strong management and an experienced Board of Directors.
  • Additionally, all nine have had board experience at other public companies, including, but not limited to, at E&P, oilfield services or midstream companies.

SilverBow Resources Announces First Quarter 2024 Financial and Operating Results

Retrieved on: 
수요일, 5월 1, 2024
Oil, Gas, Energy, Condensate, Table, NGL, International, Investment, Atlas, Austin, Texas, FCF, Natural gas, Conference, Webcast, Transport, Eagle Ford, Dallas, Finance Secretary (India), Horseshoe, WTI, Upper, Acquisition, West Texas Intermediate, Line of credit, Adjustment

SilverBow Resources, Inc. (NYSE: SBOW) (“SilverBow” or the “Company”) today announced operating and financial results for the first quarter of 2024.

Key Points: 
  • SilverBow Resources, Inc. (NYSE: SBOW) (“SilverBow” or the “Company”) today announced operating and financial results for the first quarter of 2024.
  • Strong performance during this quarter supports an increase to our full year 2024 outlook for production and free cash flow."
  • Financial results in the period were driven by production results in the upper half of SilverBow's guidance.
  • For the second quarter of 2024, SilverBow expects its production to be 90.8 - 95.4 MBoe/d, with oil volumes of 23.5 - 25.0 MBbls/d.

ConocoPhillips announces first-quarter 2024 results, quarterly dividend and VROC

Retrieved on: 
목요일, 5월 2, 2024
Energy, Natural Resources, Mining, Minerals, Oil, Gas, Permian, Sale, CFO, Investment, ConocoPhillips, Depreciation, Eagle Ford, Dallas, Public expenditure, VROC

Excluding special items, first-quarter 2024 adjusted earnings were $2.4 billion, or $2.03 per share, compared with first-quarter 2023 adjusted earnings of $2.9 billion, or $2.38 per share.

Key Points: 
  • Excluding special items, first-quarter 2024 adjusted earnings were $2.4 billion, or $2.03 per share, compared with first-quarter 2023 adjusted earnings of $2.9 billion, or $2.38 per share.
  • Distributed $2.2 billion to shareholders through a three-tier framework, including $1.3 billion through share repurchases and $0.9 billion through the ordinary dividend and VROC.
  • ConocoPhillips declared an ordinary dividend of $0.58 per share and a VROC of $0.20 per share, both payable June 3, 2024, to stockholders of record at the close of business on May 13, 2024.
  • Excluding a $0.1 billion change in working capital, ConocoPhillips generated CFO of $5.1 billion and received disposition proceeds of $0.2 billion.

2024 races to a record start with $51B in upstream M&A

Retrieved on: 
화요일, 4월 23, 2024
Permian, Sale, Interview, Q2, Dittmar, Diamondback Energy, AB, Software as a service, Eagle Ford, Dallas, SCOOP, Name, EIR

CALGARY, AB, April 23, 2024 /PRNewswire/ -- Enverus Intelligence Research (EIR), a subsidiary of Enverus, the most trusted generative AI and energy-dedicated SaaS company, is releasing its summary of 1Q24 upstream M&A activity. Following last year's blockbuster $192 billion in U.S. upstream consolidation, 1Q24 would be on track to surpass that record with $51 billion in announced deals. However, EIR is pumping the brakes on another record-setting year as deal activity has slowed significantly in March and Q2 appears to have already lost momentum.

Key Points: 
  • Following last year's blockbuster $192 billion in U.S. upstream consolidation, 1Q24 would be on track to surpass that record with $51 billion in announced deals.
  • However, EIR is pumping the brakes on another record-setting year as deal activity has slowed significantly in March and Q2 appears to have already lost momentum.
  • Headlining consolidation in Q1 was privately held Endeavor Energy Resources' sale to publicly held Diamondback Energy.
  • Members of the media should use our new Request Media Interview option on the Enverus Newsroom page to schedule an interview with one of our expert analysts.

SilverBow Resources Announces Filing of Definitive Proxy Statement and Mails Letter to Shareholders

Retrieved on: 
화요일, 4월 9, 2024
Professional Services, Finance, TSR, Letter, Risk management, ALL, Annual general meeting, History, Strategic planning, Acquisition, XOP, Eagle Ford, Dallas, KTG, Chevron Corporation, Audit committee, Management

In conjunction with the definitive proxy filing, the Company has mailed a letter to SilverBow shareholders recommending they vote for SilverBow’s three independent, highly qualified directors on the WHITE proxy card – Gabriel L. Ellisor, Kathleen McAllister and Charles W. Wampler.

Key Points: 
  • In conjunction with the definitive proxy filing, the Company has mailed a letter to SilverBow shareholders recommending they vote for SilverBow’s three independent, highly qualified directors on the WHITE proxy card – Gabriel L. Ellisor, Kathleen McAllister and Charles W. Wampler.
  • Kimmeridge is pursuing a proxy fight to further its attempt to gain control of the Company and force a combination between SilverBow and KTG on terms that are unfavorable to SilverBow shareholders.
  • The full text of the letter follows:
    The SilverBow Resources, Inc. (“SilverBow” or the “Company”) Board of Directors (the “Board”) and management team are committed to maximizing shareholder value.
  • Since early 2023, SilverBow has added four new independent directors to our Board, while significantly increasing the Board’s diversity.

NGL Energy Partners LP Announces Sale of the New Mexico Ranches

Retrieved on: 
금요일, 4월 5, 2024
Energy, Other Energy, Oil, Gas, Eagle Ford, Dallas, NGL, LEX, Delaware Basin, Sale, Environment, EVP

NGL Energy Partners LP (NYSE:NGL) (“NGL,” or the “Partnership”) announced today that it has completed the sale of its North and South Ranches.

Key Points: 
  • NGL Energy Partners LP (NYSE:NGL) (“NGL,” or the “Partnership”) announced today that it has completed the sale of its North and South Ranches.
  • These two New Mexico ranches have combined acreage of approximately 122,250 acres, in the core of the Delaware.
  • Approximately $70.0 million in proceeds, including working capital
    Including asset sales in FY24, we have exceeded the $150 million asset sale guidance
    “NGL remains focused on our commitment to deliver reliable produced water management for our customers while remaining focused on the environment and the sustainability of our operations,” commented Doug White, EVP of NGL Water Solutions.
  • NGL’s Water Solutions segment operates in several of the most prolific crude oil and natural gas producing basins, including the Delaware, Eagle Ford and DJ Basins.