CM - People & Companies - April 24, 2020EnLink Midstream, LLC elected Deborah G. Adams and James K. Lee to its board, expanding it to 10 directors. Adams is an independent director while Lee replaced Matthew C. Harris, who resigned. The changes took effect March 1. The company has four independent directors. Murphy Oil Corp. announced the return of Roger W. Jenkins to his roles as president and CEO following a medical-related leave of absence. David Looney, who stepped in for Jenkins, has returned to his day-to-day role as...
Apr 24, 2020
PS - People & Companies - January 6, 2020Baytex Energy announced that Mark Bly has been appointed chairman. Bly joined the board in 2017 and last March was appointed lead independent director and chair of the human resources and compensation committee. Bly is an independent businessman with over 35 years of experience in the oil and gas industry, primarily with BP. Chaparral Energy announced that its board has appointed Charles “Chuck” Duginski as president and CEO. Duginski succeeds K. Earl Reynolds in those roles as...
Jan 06, 2020
CM - People & Companies - April 18, 2019Altus Midstream Co. appointed
Craig Collins COO, effective April
29. He will also serve as VP of US
midstream operations of Apache Corp.
Collins was VP of midstream for Alta
Mesa Resources and VP and COO of
Kingfisher Midstream, LLC from April
2018 until April 3, when he resigned. Amplify Energy Corp. elected
Scott Hoffman to the board of directors to
replace P. Michael Highum, who resigned.
The changes became effective March 22. Andeavor Logistics LP announced
that Blane W....
Apr 18, 2019
PS - People & Companies - April 11, 2019Amplify Energy Corp. announced
the resignation of P. Michael Highum from
the board and audit committee. Brigade
Capital Management senior analyst
Scott Hoffman was appointed to the
audit committee. Denbury Resources appointed
Mary M. VanDeWeghe to its audit
committee and reserves and health, safety
and environmental committee of the board.
VanDeWeghe has served as the president
and CEO of Forte Consulting Inc., a
management and financial consulting
firm, since March 2009. Also, Laura...
Apr 11, 2019
A&D - People & Companies - January 30, 2019Australia-listed Eagle Ford E&P
Freedom Oil & Gas Ltd. named J.
Russell Porter as president and CEO,
effective Jan. 14. J. Michael
Yeager, Freedom’s former
chairman, president and
CEO, will remain non-executive chairman.
Porter most recently served as president
and CEO of Gastar Exploration. Mid-Con Energy Partners
announced the death of Peter Adamson,
III on Jan. 17. He served as a
director of Mid-Con Energy
GP, the general partner of
the partnership, and chairman of the
Audit...
Jan 30, 2019
Board rejects it all in SandRidge strategic reviewSandRidge Energy, Inc. ended a four month long strategic review with RBC Capital resulting in offers for the whole or pieces of the company that the board rejected as too low. The company had contacted 662 potential suitors during the process, signing 28 non-disclosure agreements that ultimately led to eight offers for assets or some form of combination. The highest cash bids it received gave SandRidge an implied valuation of no more than $13 a share—a chasm between intrinsic value and...
Oct 04, 2018
SandRidge declines Midstates’ $746MM combinationSandRidge Energy, Inc. rejected Midstates Petroleum's unsolicited offer to combine the two companies in a stock transaction that would have given 60% of the combined capacity to SandRidge shareholders. The company called it “highly dilutive and not in the best long-term interests of [its] stockholders.” SandRidge said relative asset values of the two companies do not support a combination at current stock prices. SandRidge cited “significantly differing opinions” of Midstates'...
Mar 28, 2018
People & Companies PetroScout - February 26, 2018Apache named Mark Meyer SVP,
energy technology strategies, effective
Mar. 1. He will oversee the company’s
energy technology
strategies team. Meyer
will join Apache from
Tudor, Pickering, Holt & Co., where
he serves as a managing director in the
securities division as head of Energy
Technology Research. Prior to that, Meyer
served as head of Securities & Research. Chevron named Bruce Niemeyer
corporate VP of strategic planning.
Previously, he was VP of the company’s
Midcontinent...
Feb 26, 2018
SandRidge receives all-stock merger proposal from MidstatesAs we reported in Capital Markets on Feb. 9, Midstates Petroleum Co. proposed an all-stock merger with fellow Mississippi Lime E&P SandRidge Energy Inc. giving SandRidge shareholders about 60% of the combined company with Midstates shareholders owning the remainder. After Midstates CEO David Sambrooks and his counterpart at SandRidge James Bennett first spoke about the idea of a merger in January, a Feb. 6 letter from Midstates to SandRidge directors said Midstates has a “strong desire to...
Feb 14, 2018
SandRidge CEO out, Midstates proposes all-stock mergerMidstates Petroleum Co. proposed an all-stock merger with fellow Mississippi Lime E&P SandRidge Energy Inc. to give SandRidge shareholders about 60% of the combined company. Midstates CEO David Sambrooks discussed the idea with SandRidge’s then-CEO James Bennett in January and a follow-up letter to SandRidge directors on Feb. 6 reiterated Midstates' “strong desire to negotiate a friendly transaction.” Two days later SandRidge said Bennett left his post and CFO Justin Bott would go after he...
Feb 09, 2018
CM - Upstream Capital Briefs - May 15, 2020Amplify Energy Corp. said it will cure its NYSE trading deficiency and regain compliance with continued listing standards after it received an April 20 noncompliance notice. The company’s common shares have closed below $1 each for 30 consecutive trading days. Amplify has a six-month cure period. Its stock is currently trading in the $0.70/share range. Gulfport Energy Corp.’s tax benefits preservation plan, adopted April 30 by its board, will protect over $1.3 billion of net operating...
May 15, 2020
CM - Upstream Briefs - April 24, 2020Callon Petroleum Co. will propose a reverse split of its common stock to regain compliance with NYSE continued listing standards. It received a deficiency notice from the exchange on April 10 because the price of its common shares had fallen below $1 per share over a period of 30 consecutive trading days. Callon has 397 million shares outstanding and has been trading in the $0.40-$0.50 range during April. DoublePoint Energy, LLC announced the addition of Citi to its lending syndicate...
Apr 24, 2020
CM - Upstream Capital Briefs - November 15, 2019Houston American Energy Corp. received a NYSE deficiency letter on Oct. 17 related to its common stock, which has been selling for a low price for a substantial period of time. The company is out of compliance with the exchange’s Section 1003 (f) (v) and has until April 16 to save its listing by effecting a sustained share price improvement or a reverse split. The company’s stock will continue to trade as HUSA in in the interim period. Kimbell Royalty Partners, LP paid about $31.8...
Nov 15, 2019
CM Upstream Capital Briefs - September 13, 2018Advantage Oil & Gas announced plans to delist from NYSE after its board determined the costs of a dual listing outweigh the benefits. The company will continue to list on the Toronto Stock Exchange. The company plans to file paperwork with the SEC to voluntarily delist around Sept. 20. Private equity group Bayou CIty Energy Management teamed up with Mach Resources LLC to buy producing interests in the Mississippian Lime from Spanish company Repsol. The properties comprise 57,000 net...
Sep 13, 2018
People Briefs - March 06, 2018Antero Resources Corp. elected
Joyce E. McConnell to its board of
directors effective Feb. 20.
McConnell is the provost
and VP of academic affairs at
West Virginia University. Her addition to
the board returns its size to nine directors,
seven of whom are independent. Apache named Mark Meyer
SVP, energy technology strategies,
effective Mar. 1. He will oversee the
company’s energy technology strategies
team. Meyer joins Apache from Tudor,
Pickering, Holt & Co., where he serves
as a...
Mar 06, 2018