Friday, February 7, 2025

Carrizo Is Newest Activist Investor Target

Kimmeridge pushes the firm to focus on Permian Activist investors continue to shake up E&P companies, with one group now taking aim at Carrizo Oil & Gas (ticker: CRZO). Private equity firm Kimmeridge Energy disclosed an 8.1% stake in Carrizo today, roughly 6.6 million shares. According to the filing, Kimmeridge is pushing Carrizo to remedy several challenges. Kimmeridge believes Carrizo

Another Approval in Merger of WGL Holdings and AltaGas

The Maryland Public Service Commission gave its blessing Wednesday, allowing the combination of WGL Holdings, Inc. (ticker: WGL) with AltaGas Ltd. (ticker: ALA) to proceed. The $4.5 billion merger brings together two energy companies. The commission voted 4 to 1 in favor of the merger. Maryland PSC joins the Virginia State Corporation Commission, FERC, FTC, DOJ, and the Committee on

Statoil awards $1.5 billion contracts to rig builders

From Reuters Norway’s Statoil has awarded contracts worth 11.4 billion Norwegian crowns ($1.5 billion) to three companies for the construction of a platform and other work on the second phase of its giant Johan Sverdrup oil field development. The largest award, for engineering, procurement and building of an 8 billion crown deck for the field’s process platform, was made to

Exxon imports LNG to keep tanks cool at Papua New Guinea plant

From Reuters ExxonMobil said on Thursday that it has imported a liquefied natural gas (LNG) cargo to keep tanks cold at its Papua New Guinea LNG facilities near the capital Port Moresby, confirming an earlier Reuters report. The imported LNG will help maintain the temperature of the company’s LNG tanks and marine terminal loading facilities to avoid a lengthy recooling