Darren
Barbee
Oil and Gas Investor
Elliott Demands Phillips 66 Sell or Spin Off Midstream Biz for $40B+
Activist investor Elliott Capital Management disclosed Feb. 11 it has built a $2.5 billion position in Phillips 66 and issued a series of initiatives, including the sale or spinning off of the company’s midstream assets.
EON Deal Adds Permian Interests, Restructures Balance Sheet
EON Resources Inc. will acquire Permian overriding royalty interests in a cash-and-equity deal with Pogo Royalty LLC, which has agreed to reduce certain liabilities and obligations owed to it by EON.
EOG’s Donald F. Textor to Retire from Board
Textor was first elected a director of EOG Resources in 2001, where his counsel played a key role in EOG’s growth, Chairman and CEO Ezra Y. Yacob said in a press release.
Report: US Tariffs Could Lead to Higher Onshore Wind Costs
Trump’s move to impose tariffs on allies and political adversaries alike comes in an effort to protect U.S. national security interest and leverage America’s economic position.
BP Pledges Strategy Reset as Annual Profit Falls by a Third
BP CEO Murray Auchincloss pledged on Feb. 11 to fundamentally reset the company's strategy as it reported a 35% fall in annual profits, missing analysts' expectations.
BP Cuts Senior Leadership Bonuses After Missing 2024 Targets
BP will cut performance-related bonuses for its senior leaders to 45% after the company missed some of its financial goals in 2024.
PE Firm Hy24 Commits $50MM to StormFisher Hydrogen
The funding, made via Hy24’s Clean Hydrogen Infrastructure Fund, will go toward StormFisher Hydrogen’s efforts to produce clean fuel in North America.
Activist Elliott Builds Stake in Oil Major BP, Source Says
U.S.-based Elliott is seeking to boost shareholder value by urging BP to consider transformative measures, Bloomberg News reported Feb. 8.
Infinity Natural Resources’ IPO Nets Another $37MM
Underwriters of Infinity Natural Resources’ January IPO have fully exercised options to purchase additional Class A common stock at $20 per share.
Equinor Commences First Tranche of $5B Share Buyback
Equinor began the first tranche of a share repurchase of up to $5 billion.