Chris Rutherford has been appointed as a managing director at Macquarie Capital to cover upstream oil and gas companies. The former UBS managing director in the firm’s Natural Resources Group will be based in Houston and lead upstream coverage of mergers and acquisitions, as well as debt and equity capital offerings. Macquarie Energy is the No. 2 physical natural gas marketer in North America, according to NGI’s quarterly compilation of the top gas marketers. During 3Q2018, Macquarie’s physical gas transactions in the United States and Canada totaled 12.71 Bcf/d, a 32% increase year/year.
Capital
Articles from Capital
Enbridge Simplifies by Acquiring Three Entities, Including Pipeline Partnership
Calgary-based Enbridge Inc., following a route by other North American pipeline operators, on Tuesday agreed to acquire the remaining stakes in three North American units for about $7 billion, bringing all of its natural gas and liquids assets under one umbrella.
Noble Energy Shifting Some Permian Capital as Bottlenecks Take Toll
Houston-based super independent Noble Energy Inc. is cutting back on planned well completions in the Permian Basin and shifting some capital to adjust for a lack of takeaway capacity.
Rex Energy to Cut Spending in Appalachia
Rex Energy Corp. plans to cut its capital expenditures significantly this year as it continues to explore options for repairing its balance sheet.
More E&Ps Expected to Achieve Free Cash Flow in 2018 Despite ‘Death of Cheap Money’
An evolving strategic focus on capital discipline by U.S. onshore exploration and production (E&P) companies that began quietly within the last couple of years is expected to become far more widespread in 2018, with nearly half of a sampled group of independent producers — mostly in the Permian Basin — generating free cash flow (FCF) in 2018, according to BTU Analytics.
More Capital Discipline Should Compel Investors to Rethink E&P Valuations, Says Raymond James
The onshore exploration and production (E&P) industry is tightening up, tilting toward more capital discipline and free cash flow (FCF), which could give investors pause in how they value the group, according to an analysis by Raymond James & Associates.
U.S. E&Ps Seen Raising 2018 Capex by 15%, with Canadian Spend 9% Higher, Says Evercore
A pivotal year awaits exploration and production (E&P) companies worldwide, with capital spending on course to increase 7% overall, led by a 15% gain in U.S. onshore-weighted budgets, according to Evercore ISI’s annual survey.
Anadarko Gearing 85% of 2018 Capex to U.S. Onshore, Deepwater GOM
Anadarko Petroleum Corp. is taking another big bet on the U.S. onshore and deepwater during 2018, earmarking 85% of its planned $4.2-4.6 billion capital investments to domestic programs.
EOG Focusing on ‘High-Return’ Oil Assets, to Grow Volumes 18% This Year
Houston-based EOG Resources Inc. plans to grow overall company crude oil volumes by 18% this year while keeping spending and dividends within cash flow at a $50/bbl average oil price, the company said.
U.S. E&Ps Again Tracking to Overspend, Toss Capital Discipline
Old habits die hard, and for exploration and production (E&P) companies long inclined to overspend, a commitment to curb outlay to align with cash flow may go out the window as they contend with higher prices for equipment and services, increasing labor shortages and peer pressure to build volumes.