MI - Venture Global raises double needed for Calcasieu Pass - July 2019Venture Global LNG said its lead financial arrangers have secured more than $10
billion in capital commitments to build its 10 mtpa Calcasieu Pass LNG in Louisiana, nearly
twice what it sought from the financing. The Arlington, Virginia-based company intends
to build the facility at the intersection of
the Calcasieu Ship Channel and the
Gulf of Mexico.
The proceeds of the construction financing, along with a $1.3 billion equity
investment that Stonepeak Infrastructure Partners made in May, will...
Jul 25, 2019
All banked up, Aramco’s global debt debut could hit $15BAfter a short five-day RFP process in late January, Saudi Aramco chose JP Morgan,
Morgan Stanley, Citi, HSBC and the quasi-state-owned National Commercial Bank
to help it raise debt for its purchase of a 70% stake in Saudi Arabian Basic Industries
Corp., sources told Reuters on Feb. 14. Aramco’s first-ever international bonds will
likely be launched in Q2 and be worth $10 billion, according to Saudi Energy Minister
Khalid al-Falih, though a Dubai-based chief investment officer at a global
firm...
Feb 27, 2019
Aramco seeking advisers for potential $50B debt raiseSaudi Aramco, which could possibly
borrow as much as $50 billion to fund
the purchase of a 70% stake in Saudi
Arabian Basic Industries
Corp., is seeking advisers
to arrange debt financing,
sources told Reuters. The company
wants advisers for both international
bond issues and bank financing, and
sent a request for proposals on Jan.
23 instructing banks to have their
responses submitted by Jan. 28, one of
the sources said.
Saudi Energy Minister Khalid al-Falih
had already told reporters...
Feb 06, 2019
Saudi sov. fund PIF borrows $11 billion, confirms SABIC talksSaudi Arabia’s sovereign Public Investment Fund signed an $11 billion loan on Sept. 17, and confirmed it was discussing the sale of its 70% stake in petrochemical company Saudi Basic Industries Corp. to Saudi Aramco for up to $70 billion. PIF said its first commercial borrowing drew more interest than expected and became larger than initially planned. People familiar with the transaction had earlier reported PIF was looking to borrow $6.0-8.0 billion.“This is the first step in...
Sep 27, 2018
Aramco’s $100B IPO appears halted, advisors off budgetThe process for the $100 billion Saudi Aramco initial public offering has—for all intents and purposes—ceased, according to senior industry sources who said that a listing would occur neither internationally nor domestically, and that Saudi Aramco had disbanded the group of financial advisors it hired. The budget used to pay advisors through the end of June was not renewed, a source said. “The message we have been given is that the IPO has been called off for the foreseeable future,” and that...
Sep 07, 2018
Aramco weighing exchanges for the best fit, selects advisorsThe world’s most fluid stock trading venues have come knocking on Saudi Aramco’s door and CEO Amin Nasser said the company is assessing different exchanges through which to launch the IPO. Sources told the Financial Times that New York and London are currently the favorites, while Hong Kong and Tokyo are also being considered for a listing in addition to the Tadawul, which is a given.The largest exchanges offer the largest volume of investors but each has a different set of rules that...
Apr 06, 2017
FTS International testing waters with IPO proposalFTS International, a leading fracking company, hopes to raise up to $100 million through a potential IPO, looking for some cash as it responds to renewed interest in US plays. The Fort Worth-based company has seen prices rising for its services since 3Q16, it said in a filing with the US Securities and Exchange Commission. The company disclosed in its filing that total frac stages have been rising since 1Q16, when they hit a low of 3,273. However, the 4Q16 number of 5,050 stages are...
Feb 28, 2017
Shoreline’s Gulf Coast fields fetch $117MM in bankruptcyBankrupt Gulf Coast producer Shoreline Energy is divesting its core assets to stalking horse bidders Morgan Stanley Energy Capital and HPS Investment Partners in a court-supervised sale process. The stalking horse offer submitted in December consisted of a $115 million credit bid by first-lien lender Morgan Stanley and $1.5 million cash. An auction scheduled for Jan. 23 was canceled after no qualified bids emerged.The successful bid will be presented to the court for approval on Feb....
Feb 08, 2017
Cheniere's Corpus Christi LNG plans coming togetherCheniere Energy received word that FERC had approved plans for its Corpus Christi LNG liquefaction facility and related infrastructure. The project will have three 4.5 mtpa LNG trains, giving it aggregate production capacity of 13.5 mtpa. The site will also include three LNG storage tanks with capacity of about 10.1 Bcfe and two LNG carrier docks. Cheniere believes LNG exports from the facility could begin in 2018. Right now, the plant is awaiting US Department of Energy approval to ship to...
Dec 18, 2014
InternationalScout - People & Companies Briefs - October 6, 2016Abu Dhabi National Energy Co., known as Taqa, appointed Mohammed Al Ahbabi as acting CFO, succeeding Grant Gillon. Al Ahbabi served as CFO at a state-run health services provider until joining Taqa as deputy finance chief in January.Andrew Male and Stephen Fabian jointed the board of Africa Hydrocarbons. Male is CEO of Greatbanks Resources; corporate development EVP of Maxim Resources, where he previously was CEO; and managing director of Westridge Management International. Fabian is a...
Oct 06, 2016
People & Companies Briefs - September 20, 2016Calgary-based Africa Hydrocarbons appointed Andrew Male and Stephen Fabian to its board. Male serves as CEO of Toronto-listed mining and resource company Greatbanks Resources; corporate development EVP of Morocco-focused oil and gas company Maxim Resources, where he previously was CEO; and managing director of private investor Westridge Management International. Fabian is a mining engineer with more than 25 years of experience and currently serves as chairman of Brazil Tungsten Holdings. Africa...
Sep 20, 2016
People & Companies Briefs - July 06, 2016Australia-listed US driller Austin Exploration moved CEO Guy Goudy to the executive chairman role while promoting COO Tim Hart to CEO. Hart will be replaced as COO by Colorado and Texas general manager Aaron Goss. These moves were made in preparation for the impending retirement of non-executive chairman Mark Hart Oct. 1. Austin is active in Colorado, Kentucky and Texas. Beach Energy appointed Morné Engelbrecht as its new CFO, effective Aug. 29, succeeding Kathryn Presser, who resigned...
Jul 06, 2016
People & Companies Briefs - June 29, 2016Australia-listed US driller Austin Exploration moved CEO Guy Goudy to the executive chairman role while promoting COO Tim Hart to CEO. Hart will be replaced as COO by Colorado and Texas general manager Aaron Goss. These moves were made in preparation for the impending retirement of non-executive chairman Mark Hart Oct. 1. Austin is active in Colorado, Kentucky and Texas.CNOOC announced the departure of president and CEO Li Fanrong, who has led the state-controlled oil producer since...
Jun 29, 2016
People Briefs - July 21, 2014• Stephen Inbusch, Bengal Energy board of directors member, recently passed away. He worked with Bengal since 2012.• Manuel Santiago joined Canaccord Genuity as managing director and head of oil and gas investment banking in their London office. Prior to joining Canaccord, Santiago served in the same positions at CIBC World Markets.• Dougherty & Company LLC hired Jacob Clymer as senior research analyst. Prior to joining the company, Clymer was a corporate development analyst...
Jul 21, 2014
International People Briefs - July 08, 2014• Chinook Energy appointed Jason Dranchuk as finance VP and CFO. Dranchuk previous served in the same roles at Zargon Oil & Gas.• Falcon Oil & Gas appointed Michael Gallagher as CFO to replace Eoin Grindley, who has stepped down. Gallagher joined Falcon in 2012 as group financial controller.• Gran Tierra Energy has promoted Duncan Nightingale to COO to replace Shane O'Leary, who has retired. Nightingale was previously president of Colombian operations and will be...
Jul 08, 2014