Darren
Barbee
Oil and Gas Investor
Shawcor Rebrands, Explores Strategic Alternatives for Several Oilfield Businesses
Shawcor's potential sale of three business units would be used to "strengthen the company's balance sheet, accelerate the profitable expansion of our higher margin, less volatile composite systems and automotive and industrial segments and to return capital to shareholders as conditions permit," the company said in a release.
Baker Hughes Restructures Operations, Shakes Up Management
Restructuring operations into two business segments is expected to save $150 million, company says.
S.T.L. Resources Outmaneuvers Rival Bidders to Snag Bankrupt Tilden Marcellus
S.T.L. Resources initially appeared to win Marshland Field assets mineral leases and infrastructure in the Marcellus, but a last-minute bidder nearly upended the process.
Kinder Morgan’s Ruby Pipeline Files for Chapter 11 Bankruptcy
Ruby Pipeline is a natural gas pipeline joint venture operated by Kinder Morgan that extends from Wyoming to Oregon.
PetroChina Plans to Boost Renewables Output, Posts Biggest Profit in 7 Years
PetroChina made commitments to reach carbon neutrality by 2050, 10 years ahead of China's 2060 goal, by having renewable energies consist of one-third of its portfolio by 2035.
Spain’s Repsol to Buy Rockdale Marcellus Assets in $222 Million Bankruptcy Sale
Rockdale Marcellus, which filed for bankruptcy in September, was formed with the acquisition of Shell’s operated Marcellus properties in Tioga, Lycoming and Bradford counties in Pennsylvania.
Royal Dutch Shell Shareholders Back Headquarters Shift to London
The company will be renamed Shell PLC, losing the "Royal Dutch" title it has had for more than a century.
Enbridge Raises Dividend, Plans Share Buybacks as Profit Set to Rise
The company forecasted its 2022 EBITDA between C$15 billion and C$15.6 billion, higher than its 2021 expectations of C$13.9 billion to C$14.3 billion.
PNG-focused Oil Search Gets Shareholder Nod for $6.2 Billion Buyout by Santos
In September, Santos said the merger with Oil Search would better align stakeholdings in PNG’s biggest gas projects—PNG LNG and Papua LNG—that would further support investment and deliver new jobs.
NRG Closes 4.8 GW Asset Sale to ArcLight Capital Affiliate, Launches $1 Billion Share Buyback
NRG Energy plans to sell 4,850 MWs of assets from its East and West regions to Generation Bridge. Additionally, its board of directors authorized a $1 billion share buyback program.