Briefs– Baker Hughes NGS Sale

Baker Hughes, a GE company (BHGE), is selling its natural gas solutions (NGS) business, part of the turbomachinery and process solutions segment, in two separate agreements for a total of $375 million. The NGS product line is being sold to First Reserve in a transaction that includes three manufacturing sites in North America and the UK, as well as transferring 450 employees in eight countries. Separately, the Talamona, Italy branch of the NGS product line, which includes a manufacturing site, is being sold to Pietro Fiorentini SpA. Forty employees in Talamona also would be transferred. Both transactions are expected to close by the end of the year.

July 19, 2018
More E&Ps Expected to Achieve Free Cash Flow in 2018 Despite ‘Death of Cheap Money’

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.

February 26, 2018

Briefs — CNX Fine

ACNX Resources Corp. affiliate has agreed to pay a $433,500 fine to the Pennsylvania Department of Environmental Protection(DEP) for several violations at well sites in Greene County. CNX Gas Co. LLC was cited for failing to, among other things, properly control flowback and drilling fluids, maintain containment during hydraulic fracturing activities, and unauthorized discharge of industrial waste into state waters. The penalties come after a long-term investigation by DEP. The well sites have since been remediated.

January 2, 2018

Rex Energy Again Facing Possible Nasdaq Delisting

Rex Energy Corp. has again received notice from Nasdaq that it is not in compliance with the listing standards of the Nasdaq Capital Market, putting the company in jeopardy of delisting if its plan to meet the exchange’s requirements is not accepted.

November 27, 2017

Antero Nets $1B-Plus in Stock Offering, NatGas Hedge Restructuring

Antero Resources Corp. said Thursday that it earned more than $1 billion through a stock offering and changes to its natural gas hedge portfolio, securing some of the cash it needs to support year/year production growth of 20-22% through 2020.

September 21, 2017

Lucas Energy Completes Second Tranche of Securities Purchase Agreement

Lucas Energy Inc. said it has received $4.5 million in gross proceeds from a stock sale, part of a series of transactions the company committed to last April to secure up to $15 million to fund its future growth initiative.

November 22, 2016

Chapter 11 Revolving Door: Goodrich Going In, Swift Coming Out

Goodrich Petroleum Corp. and Swift Energy Co. have reached separate agreements with their respective creditors on reorganization, with the former planning to enter Chapter 11 bankruptcy on April 15 and the latter planning to emerge from it on the same day.

April 1, 2016

Clayton Williams Stock Tumbles on News of Stock Warrants

Looking to hold onto its acreage and maintain liquidity as it waits out a depressed commodity market, Clayton Williams Energy Inc. announced this week that it has reached a credit agreement with lender Ares Management LP.

March 11, 2016

Goodrich Dropped from NYSE; Atlas MLPs Below Listing Standard

Trading in Houston’s Goodrich Petroleum Corp. common stock was suspended Wednesday by the New York Stock Exchange (NYSE) and a delisting process has begun for the onshore producer.

January 14, 2016

SandRidge Share Price Falls Below NYSE Listing Requirement

SandRidge Energy Inc., which mostly explores for oil and natural gas in the Midcontinent, said Monday afternoon its stock price had fallen below the continued listing requirement of the New York Stock Exchange (NYSE).

July 27, 2015
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