CS - People & Companies - March 26, 2019Baytex Energy announced that as
part of ongoing board renewal process, Ray
Chan and Gary Bugeaud have decided to
not stand for election as directors at next
annual shareholders meeting in May. Also,
Rick Ramsay, EVP and COO, elected to
retire on April 5. Ramsay, who has been
with Baytex since January 2010, will be
succeeded by Jason Jaskela. Jaskela was
COO of Raging River from March 2014
until last August and VP for production
from March 2012 until March 2014. Corey Bieber, SVP,...
Mar 26, 2019
Encana exits Piceance as Caerus takes leading positionEncana sharpened its focus on liquids-rich Permian and Eagle Ford growth with an exit from the gassy Piceance Basin in northwestern Colorado. Private player Caerus Oil and Gas was the buyer, significantly expanding its core Piceance position with 550,000 net acres for $735 million. The deal roughly quadruples Caerus’ operated producing wells and future drilling locations as it gained 3,100 producers and 6,000 future drilling locations in Rio Blanco, Garfield, Mesa and Pitkin counties, CO. About...
Jun 28, 2017
Caerus quadruples Piceance producing wells, drilling locationsPrivate player Caerus Oil and Gas significantly expanded its core Piceance Basin position this month, buying Encana’s 550,000 net acres for $735 million. The deal roughly quadruples Caerus’ operated producing wells and future drilling locations as it gained 3,100 producers and 6,000 future drilling locations in Rio Blanco, Garfield, Mesa and Pitkin Cos., CO. About 1,000 of those are HZ locations targeting five different benches with 7,500-laterals. Caerus is becoming one of the...
Jun 20, 2017
Encana sheds Piceance gas assets onto Caerus for $735MMEncana Corp. is selling its Piceance gas assets in northwestern Colorado for $735 million to Caerus Oil and Gas LLC, which is backed by Oaktree Capital Management and Anschultz Investment Co. Encana will also dispose of $430 million of contractual pipeline obligations, with Caerus assuming these commitments, as well as market Caerus’ production from the assets. The move is the latest component of Encana CEO Doug Suttles’ strategy initiated in 2014 to shed non-core gas assets and focus on...
Jun 14, 2017
CapitalMarkets - Who's Hot/Who's Not - October 26, 2016Upgrades: Anadarko Petroleum (APC/$63.02/$28.16/$72.24/$34.46B) from Hold to Buy by Deutsche Bank. Chesapeake Energy Corporation (CHK/$6.36/$1.50/$8.15/$4.75B) from Underweight to Equal-Weight by Stephens & Co.; from Underperform to Neutral by Bank of America; from Underperform to Neutral by Nomura. ConocoPhillips (COP/$42.24/$31.05/$57.24/$53.64B) from Market Perform to Outperform by Wolfe Research. *Imperial Oil (IMO/$44.28/$37.25/$46.27/$38.12B) from...
Oct 26, 2016
What the Analysts are Saying About A&D - August 21, 2015EnerCom’s Oil & Gas Conference in Denver (Aug. 16-20) had a jam-packed roster of industry speakers highlighting trends in specific plays and the upstream industry generally. Research analysts from many leading financial institutions were on hand. Here’s a sampling of their takeaways on the US A&D market.SYRG: Given its current macro outlook, management would prefer to grow its Wattenberg footprint rather than near-term production. The company is focused on adding acreage that is...
Aug 21, 2015
Who's Hot, Who's Not - August 04, 2014Upgrades:• BP (BP/$48.99/$40.51/$53.48/$150.07.18B) from Sector Outperform to Focus Stock by Howard Weil.• Encana (ECA/$21.55/$16.97/$24.83/$15.64/$15.64B) from Trim to Hold by Tudor Pickering Holt.• Kodiak O&G (KOG/$15.56/$9.26/$16.25/$3.93M) from Hold to Buy by Wunderlich.• Matador Resources (MTDR/$27.07/$12.97/$29.94/$1.89B) from perform to Outperform by BMO Capital.• PDC Energy (PDCE/$54.26/$44.72/$73.93/$1.92) from Sector Perform to Outperform by...
Aug 04, 2014
Top five stock winners & losers - January 3, 2013Sonde Resources was the biggest mover of the past 30 days, rising 51% to close at $1.62 January 2. The company farmed out its Joint Oil Block offshore Libya and Tunisia in December, relieving the company of a $46.6 million drilling commitment liability. The commitment had threatened the company with insolvency.Americas Petrogas rose 39% to close at $2.86 January 2. The company's Agua de Afuera unconventional shale exploration well in Argentina reached 11,311 TD in late December, with...
Jan 03, 2013
PetroChina gets 20% of Shell's Groundbirch projectPetroChina agreed to buy a 20% stake in Shell's Groundbirch Montney shale gas project in northeast British Columbia, the latest acquisition by Chinese NOCs to secure deals worldwide and feed China's rising energy needs. Both companies declined to disclose the value of the deal but several news wire reports said the deal was worth more than $1 billion. The two companies, which are already cooperating in shale gas exploration in southwest China, also agreed to beef up drilling there to 20-25...
Feb 08, 2012
Who's Hot, Who's Not (Short Stories; Sept 29, 2011)Upgrades:
- Rex Energy Corporation (REXX/$13.3/$0.99/$20.31/$285.12M) from Hold to Buy by Brean Murray.
New Coverage:
- Newfield Exploration (NFX/$40.79/$15.45/$46.62/$5.79B) at Buy by
Deutsche Bank.
- Brigham Exploration (BEXP/$25.71/$1.04/$14/$814.65M) at Hold by Deutsche Bank.
- Chesapeake Energy (CHK/$27.08/$9.84/$42.67/$18.48B) at Hold by Deutsche Bank.
- Concho Resources (CXO/$76.41/$14.71/$38.7/$3.21B) at Buy by Deutsche Bank.
- Devon Energy (DVN/$56.91/$38.55/$105.3/$31.43B) at...
Sep 29, 2011
Letter from Enercom's 16th annual oil & gas conferenceThe psychological hubs of this year's Enercom Oil & Gas Conference in Denver were two big screen televisions locked in to CNBC and Bloomberg, grouped together near the middle of the convention floor. It was nearly impossible not to be drawn in to the center of this whirlpool of industry executives, investors, bankers, and others with something to sell at least a few times each day, to rubberneck the slow-motion car crash that the markets were experiencing. Everyone in the dividend-paying camp...
Sep 12, 2011
Encana puts up Barnett shale play for saleEncana Corporation is looking to sell its North Texas natural gas assets in Fort Worth Basin's Barnett shale play as part of its divestiture program. "The initiation of the process to sell Encana's North Texas assets is a continuation of the company's ongoing divestiture program, which is well underway and is targeting net divestitures of between $1 billion and $2 billion for 2011," said Jeff Wojahn, president of Encana's USA division.
The assets currently produce about 125 MMcfe/d and...
Aug 25, 2011
People & Companies Briefs - September 1, 2016Anadarko has promoted Darrell Hollek, EVP of US onshore E&P, to EVP of operations, overseeing US onshore and offshore E&P and midstream operations as well as international. SVP for international exploration Ernie Leyendecker has been named EVP of international and deepwater exploration, replacing Bob Daniels, who will become EVP and a member of the executive committee until he retires later this year. Former EVP of international and deepwater operations Jim Kleckner is also...
Aug 31, 2016
Equity Briefs - March 9, 2016• Midland, Texas’ Colgate Energy said it secured $75 million of equity commitments from lead investor Pearl Energy Investments and NGP Natural Resources XI, a partnership of Natural Gas Partners alongside its own management team. Colgate is a Permian-focused E&P company formed last year by Will Hickey and James Walter. They lead a management team that served in various roles at Pioneer Natural Resources, Denham Capital Management and EnCap Investments. The team participated in horizontal well...
Mar 09, 2016
People Briefs - July 15, 2014• Stephen Inbusch, Bengal Energy board of directors member, recently passed away. He worked with Bengal since 2012.• Enbridge announced VP, CFO and CDO J. Richard Bird plans to retire by the close of 2014. Upon retirement, his responsibilities will be split into two separate roles of CFO and CDO. The company announced the appointment of John Whelen as senior finance VP. The company also hired Vern Yu as senior VP of corporate development.• ExxonMobil appointed Jerry Wascom...
Jul 15, 2014