Emerges from Chapter 11 Process Having Eliminated Over $250 Million of Funded Debt Obliga…
By Tyler Losier, Energy Reporter, Oil & Gas 360 Continental Resources’ Harold Hamm sits down for a fireside chat Today, as part of EnerCom’s 24th annual The Oil and Gas Conference in Denver, Colorado, Harold Hamm, CEO and chairman of Continental Resources (stock ticker: CLR), sat down with Tom Petrie of Petrie Partners for a fireside chat. The two spoke
By Tyler Losier, Energy Reporter, Oil & Gas 360 Vermilion Cliffs Partners gets $11 million senior secured loan facility On Monday, Anvil Capital Partners, a private credit special situations lending firm, announced the final close of an $11 million senior secured loan facility to Vermilion Cliffs Partners. According to Anvil, the funds will be utilized by Vermilion to support the
By Tyler Losier, Energy Reporter, Oil & Gas 360 Summit Midstream Partners appoints J. Heath Deneke as president, CEO and board member Summit Midstream Partners LP (stock ticker: SMLP), a master limited partnership located in The Woodlands, Texas, has appointed J. Heath Deneke to serve as its president and chief executive officer, effective September 16, 2019. Deneke was also nominated
Enbridge Inc. (ticker: ENB) said its indirect subsidiary, Enbridge (U.S.) Inc., has entered into an agreement to sell Midcoast Operating, L.P. and its subsidiaries to AL Midcoast Holdings, LLC (an affiliate of ArcLight Capital Partners, LLC) for a cash purchase price of US$1.120 billion. “The sale of Midcoast is an important step in our shift towards a pure regulated pipeline
Superior Drilling Products, Inc. (ticker: SDPI) had a net loss of $786 thousand in Q4 2017, or $(0.03) per share. For 2017, the company had a net loss of $279 thousand, or $(0.01) per share. Superior reduced debt by $3.9 million, or 23%, down to $12.8 million – compared to 2016’s debt of $16.7 million. Superior Chairman and CEO Troy
Permian Operator Will Use Equity Proceeds to Pay Debt While the oil and gas industry is battening down the hatches, issuing bailing buckets to all hands and looking for a solid toehold as forty-six dollar crude oil sloshes under and around it, North American shale player Diamondback Energy (ticker: FANG) is a point of light. The company zoomed to the market yesterday
Earnings season is approaching, and balance sheets will carry more weight than they have in years. The oil price slide has resulted in a much greater debt to market cap percentage across the oil and gas sphere. In EnerCom’s E&P Weekly for the period ended September 26, the median debt/market cap percentage was 40%. In the latest edition for the
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