![Energy Transition Venture Capital Funding Dips, Benefitting Tech Incubators](/sites/default/files/styles/featurable_list_image/public/image/2023/08/energy-transition-venture-capital-funding-dips-benefitting-tech-incubators.jpg?itok=ngby-T67)
Energy Transition Venture Capital Funding Dips, Benefitting Tech Incubators
Supermajors are shifting away from their venture capital arms to incubators for greater insight into new technology.
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Patrick McGee joined Hart Energy as Senior Editor of Energy Finance in April. His work previously appeared in The New York Times, The Boston Globe, The Belfast Telegraph and the Fort Worth Star-Telegram. He served as a Peace Corps volunteer in El Salvador and as a tank commander in the Army.
Supermajors are shifting away from their venture capital arms to incubators for greater insight into new technology.
A Truist Securities study finds more diversity in private equity ownership of E&Ps and predicts more of them will keep their ownership for the longer term.
E&Ps have been expanding capital budgets, producing more ESG reporting and returning capital to shareholders and companies appear poised to return to M&A, a report by EY found.
Canada’s TC Energy is seen to have sold equity in the premium asset to offset $60 billion in debt, leading to a slide in stock prices.
A pro-renewable group says oil needs to stay above $80 a barrel for supermajors to thrive, though analysts say the companies are in a good position to continue throwing off free cash flow at lower prices.
High FCFs allow companies to fund their own projects, return capital to investors and pay off debt without having to delve into high-interest debt.
Lab tests show that 90% of oil is still left in rock that’s drilled.
ConocoPhillips posted record production in the second quarter but commodity prices fell short of analyst expectations.
The energy sector led the S&P in 2022, but macroeconomic factors have weighed down its performance this year.
Tug Hill's midstream assets would boost EQT Corp.’s access to markets, but the deal has languished for nearly a year while under regulatory scrutiny.
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