Artificial Lift Firm Flowco’s Stock Surges 23% in First-Day Trading
Shares for artificial lift specialist Flowco Holdings spiked 23% in their first day of trading. Flowco CEO Joe Bob Edwards told Hart Energy that the durability of artificial lift and production optimization stands out in the OFS space.
Spartan Delta Ups Bought Deal Financing to $59MM
Underwriters have agreed to purchase approximately 22.2 million of Spartan Delta Corp. common shares, for resale to the public, at CA$3.82 per share (US$2.66), the company said.
Riverstone’s Leuschen Plans to IPO Methane-Mitigation-Focused SPAC
The SPAC will be Riverstone Holdings co-founder David Leuschen’s eighth, following the Permian Basin’s Centennial Resources, the Anadarko’s Alta Mesa Holdings and the Montney’s Hammerhead Resources.
Hess Midstream Signs Deal to Repurchase $100MM of Class B Units
Hess Midstream said the repurchase is expected to result in increased distributable cash flow per Class A share.
Minerals M&A to Heat Up in ‘25 with $4B Diamondback Sale–KeyBanc
KeyBanc analysts expect an “imminent” Diamondback Energy dropdown to Viper Energy and at least a couple of $500 million deals by public mineral and royalty companies in 2025, with Sitio Royalties a likely acquirer.
Plains All American Prices First M&A Bond of Year
U.S. integrated midstream infrastructure company Plains All American Pipeline on Jan. 13 priced a $1 billion investment-grade bond offering, the year's first to finance an acquisition.
Kimmeridge Texas Gas Prices $500MM in Senior Notes Offering
Kimmeridge Texas Gas said the senior unsecured notes will be used to repay a portion of outstanding revolver borrowings and support the buildout of the company.
Origis Completes $415MM Funding for Texas Solar Project
Origis Energy’s Swift Air Solar project, which is currently under construction, will enter commercial production in mid-2025.
Trying to Keep Tabs on the Inflation Reduction Act’s $370B
Several online trackers are following the flow of Inflation Reduction Act money, but a full accounting of the billions already obligated by the Biden administration is a monumental task.
Chevron Targets Up to $8B in Free Cash Flow Growth Next Year, CEO Says
The No. 2 U.S. oil producer expects results to benefit from the start of new or expanded oil production projects in Kazakhstan, U.S. shale and the offshore U.S. Gulf of Mexico.