CM - Bankruptcies: Halcón emerges again; EP Energy goes in - October 2019Halcón Resources emerged from Chapter 11 bankruptcy protection on Oct. 8 about $800 million lighter and with a new $750 million senior secured reserve-based revolving credit facility that features an initial $275 million borrowing base. It is the company’s second time through the process within three years, having shed $1.8 billion in debt in 2016. Halcón said its newly reduced debt load will also decrease annual interest expenses by over $40 million. Post-emergence, the company has $147...
Oct 25, 2019
PS- People & Companies - October 21, 2019Antero Resources announced that Vicky Sutil and Tom Tyree have been appointed to its board as a Class III director and Class I director, respectively, effective as of Oct. 7. Sutil has an extensive background in the oil and gas industry, previously with California Resources Corp. while serving as VP of commercial analysis for CRC Marketing, Inc. from 2014 to 2016. Tyree is currently the chairman of Northwoods Energy LLC, an upstream oil and gas company he founded in January 2018....
Oct 21, 2019
PS - People & Companies - September 9,2019Comstock Resources appointed Ronald Mills as VP of finance and investor relations. Mills is joining Comstock's new management team put in place with the company's recent $2.2 billion acquisition of Covey Park Energy and will assist the company with the corporate planning, capital markets transactions and investor relations. Mills brings almost 25 years of financial experience in the energy industry. Prior to joining Comstock, he spent his career at Johnson Rice & Company LLC covering small...
Sep 09, 2019
CM - People & Companies - August 26, 2019Calumet GP, LLC, the general partner of Calumet Specialty Products Partners LP, named Christopher H. Bohnert CFO of the finished lubricants and chemicals business. He had previously been chief accounting officer. Citgo Petroleum Corp. named Carlos Jorda CEO. He had served as president of PDV America and as chairman of Citgo’s board. Jorda also has been a board member of Delek USA. EnLink Midstream, LLC announced that executive chairman Barry E. Davis reprised his role as CEO,...
Aug 26, 2019
A&D - People & Companies - August 08, 2019Comstock Resources expanded its
board of directors to include Covey Park
Energy’s former co-CEO John Jacobi
and Jordan Marye, a managing partner of
Denham Capital. Denver-based Extraction Oil & Gas
announced the resignation of former US
Commerce Secretary Donald L. Evans
from its board, citing personal reasons.
He served on the board since December
2016, during which time the company
grew to become one of the largest acreage
holders and producers in Colorado. Halcón...
Aug 08, 2019
CM - People & Companies - August 02, 2019Alta Mesa Resources, Inc.
announced that VP and chief accounting
officer Ronald J. Smith was terminated
effective July 19. Baker Hughes, a
GE company named Jud
Bailey VP of investor relations, succeeding
Philipp Mueller, who resigned. Bailey joins
BHGE from Wells Fargo Securities. Chaparral Energy, Inc. elected
Marcus Rowland interim chairman of the
board effective July 25. He replaces Robert
F. Heinemann, who resigned on July 10. Comstock Resources expanded its
board of...
Aug 02, 2019
CM - People & Companies - May 09, 2019Craig Collins, former VP of
midstream for Alta Mesa Resources and
VP, COO of Kingfisher Midstream,was
named COO of Altus Midstream
Co., effective April 29. Brigham Minerals, Inc., which
went public last month, elected Harold
D. Carter, John A. Holland, W. Howard
Keenan, Jr. and Richard Stoneburner to its
board of directors.Contango announced that
Charles M. Reimer is not standing for reelection at the June 14 annual meeting. Empire Petroleum Partners,
LLC...
May 09, 2019
PS - People & Companies - May 02, 2019Big Star Energy, oil and gas
exploration and production company with
operations in Dawson County, Texas,
appointed Trent Spry as an executive
director. He has previously worked with
BHP Petroleum, Woodside Energy, RPS
Energy and Entek Energy. Chaparral Energy Inc. appointed
Marcus “Marc” Rowland to serve as an
independent director of the board, effective
April 10 to succeed David
Geenberg who resigned as a
member of the board on March
11. Rowland is the founder and senior
managing...
May 02, 2019
A&D - People & Companies - April 24, 2019Fort Worth-based Approach
Resources named Sergei Krylov as CEO,
succeeding J. Ross Craft, who resigned as
chairman and CEO. Krylov has
served as Approach’s EVP and
CFO since joining the company
in early 2014. He retains his duties as
CFO. The company also announced
that current director Jim Crain has been
named chairman. STACK pure-play Chaparral Energy
appointed Marcus “Marc” Rowland as
an independent director of the board.
Rowland is the founder and senior
managing director of IOG...
Apr 24, 2019
A&D - People & Companies - March 13, 2019Berry Petroleum Analyst Notes elected Donald
L. Paul to its board of directors, effective
Feb. 28. Paul is currently executive director
of the University of Southern California
Energy Institute, William M. Keck Chair of
Energy Resources, and research professor
of Engineering at USC. Chevron announced that Pierre
Breber will become SVP and CFO, effective
April 1, succeeding Patricia Yarrington, who
will retire after 38 years of service
with the company. In turn, Mark
Nelson will replace...
Mar 13, 2019
CM - People & Companies - March 07, 2019Directors who have announced
they do not intend to stand for re-election
at their company’s next annual meeting
of shareholders: Mark C. McKinley
from Anadarko Petroleum, George
D. Lawrence from Apache, Martin S.
Craighead, vice chairman, from Baker
Hughes, a GE company, Charles
L. Fabrikant from Diamond Offshore
Drilling, Inc., B.Z. (Bill) Parker from
Laredo Petroleum, Inc., Gary L. Warren
from Newpark Resources, Inc. Berry Petroleum Corp. elected
Donald L. Paul to its board of...
Mar 07, 2019
Activist Fir Tree says Halcón should cut costs, sell itselfNoted activist investor Fir Tree
Partners, which currently owns 5.25%
of Halcon Resources Corp, strongly
suggested in a Feb. 4 letter to the
board of directors that the company
add two independent directors and
put itself up for sale, or risk a proxy fight at
the next shareholder meeting.
Though concerns expressed in Fir
Tree’s letter sent Oct. 22, when it owned
7.2% of Halcón's shares, were met with
assurances that it was interested in some
of the ideas, the investor said that...
Feb 14, 2019
WaterBridge grows in Delaware through trio of acquisitionsWaterBridge Resources added 344,000 bbl/d of water disposal capacity in the southern Delaware Basin through about a half billion dollars in acquisitions with Concho Resources,Halcon Resources and NGL Energy Partners. The transactions will be partly funded by $800 million of new debt facilities.WaterBridge entered into a definitive agreement to acquire a batch of southern Delaware water infrastructure assets near Pecos, Texas, from NGL for $238.8 million at closing. The transaction...
Jan 08, 2019
WaterBridge enters $800MM syndicated debt facilityWaterBridge Resources LLC entered into a new $800 million syndicated debt facility led by SunTrust. The company will use the borrowings to fund the acquisitions of Permian Basin water infrastructure assets from Halcon Resources Corp. and NGL Energy Partners, and to repay revolver debt on its other $200 million credit facility.The new facility was underwritten by 15 lenders. It consists of a $600 million Term Loan A facility and a $200 million delayed-draw tranche. WaterBridge will...
Jan 04, 2019
A&D - News Briefs - April 7, 2020Los Angeles-based mining company Tiger International Resources signed an MOU to acquire all of the outstanding ownership interest in Barnett-focused Alibates Operating, LLC from Mannah, LLC for $1.18 million. Alibates owns 64 wells with working interests ranging 20- 75% on 2,812 net acres (5,000 gross) in Parker, Tarrant and Wise counties, Texas. The wells are operated by Alibates subsidiary American Star Energy & Minerals Corp. and ANRE Gas Systems. Tiger will acquire the outstanding...
Apr 07, 2020