Darren
Barbee
Oil and Gas Investor
Buffet’s Berkshire Hathaway Buys More Occidental Petroleum Shares
Warren Buffett’s Berkshire Hathaway also spent $51.1 billion on equities in the first quarter, including an increased $25.9 billion stake in oil company Chevron Corp.
Analysts: Hamm’s Offer to Continental Points to Industrywide Undervaluing of E&Ps
Continental Resources’ founding family said it’s prepared to leave the public market to pursue a more flexible and nimbler path as a private operator.
Diamondback Energy Raises Return of Free Cash Flow to Shareholders
The Diamondback Energy board approved an increase to its current commitment to return at least 50% of its free cash flow. The net effect will return 75% of the Permian Basin producer’s FCF during the second half of 2022.
W&T Offshore Names Jonathan Curth as General Counsel
Jonathan Curth has extensive legal experience working with public E&P companies, most recently at Vine Energy, which was acquired by Chesapeake Energy in 2021.
Harold Hamm Launches $4.4 Billion Cash Offer to Take Continental Resources Private
Harold Hamm, an industry icon who helped lead the charge to lift America’s 40-year-old ban on U.S. crude oil exports, founded Continental Resources in 1967 at the age of 21.
Unit Corp. Ends Bid to Liquidate Properties Following Gulf Coast Asset Sale
Tulsa, Okla.-based Unit Corp. announced on June 10 that it will double its share buyback program to $100 million.
Devon Energy’s RimRock Acquisition Highlights Value Outside Permian Basin
The RimRock transaction, which adds at least 100 locations, should enable Devon Energy to keep production flat in the Williston Basin for the next 4-5 years, Goldman Sachs said.
Hess Shares Strategy Behind Diverse Asset Portfolio
Hess CEO John Hess, who said the U.S.-based oil producer is “not interested in M&A right now,” shares the key to sustainable production growth from the Bakken shale play to the Guyana-Suriname hotspot.
Desert Peak, Falcon Close Merger Forming Sitio Royalties
Desert Peak—the largest independent Permian Basin pure-play mineral and royalty company—completed its all-stock merger with Falcon Minerals with the combined company based in Denver rebranding as Sitio Royalties.
How Shale Producers Can Win Over Skittish Investors
Flush with cash, U.S. shale producers vary in approach to shareholder returns but one, in particular, appears to be well-suited to the industry’s boom-and-bust life cycle.