DIRS.INFO The most relevant business & tech news

The deal represents a doubling down by Ovintiv on the Permian, where exploration in many areas still promises lucrative returns. Ovintiv will pay cash and also use some of its stock as currency for the deal, the sources said. If the negotiations conclude successfully, a deal could be announced as early as this week, the sources said, cautioning that no deal is certain. The deal will boost the percentage of Ovintiv's production coming from oil, at a time of low natural gas prices. The deal comes as EnCap is attempting to raise a new fund focused on investments in oil and gas production, its first since 2017, sources told Reuters in November.

Oklahoma City-based Chesapeake has been trying to divest its entire South Texas operations to focus on natural gas-producing acreage in other parts of the United States. The deal it has clinched falls short of meeting the demands of activist investor Kimmeridge Energy Management, that is among the 15 largest Chesapeake shareholders, to exit South Texas entirely. Chesapeake is continuing with efforts to divest them, though it's unclear if it will do so until market conditions change, according to the sources. Chesapeake and WildFire did not respond to comment requests. Since then, it has built a position in the Eagle Ford producing upwards of 16,000 net barrels of oil equivalent per day, according to its website.

Jan 4 (Reuters) - A unit of Tokyo Gas Co Ltd (9531.T) is in advanced talks to buy U.S. natural gas producer Rockcliff Energy from private equity firm Quantum Energy Partners for about $4.6 billion, including debt, people familiar with the matter said on Tuesday. Castleton Commodities International (CCI) owns the rest of TG Natural Resources. Rockcliff and TG Natural Resources did not immediately respond to requests for comment. Tokyo Gas could not be reached for comment outside regular business hours. In October, Tokyo Gas agreed to sell its stakes in a portfolio of four Australian liquefied natural gas (LNG) projects for $2.15 billion to a unit of U.S. investment firm EIG.

Blackstone Credit is working with an investment bank to explore options for PRI Operating at a time when commodity prices continue to trade at elevated levels after touching multi-year highs earlier in 2022. The sources cautioned a sale of PRI Operating was not guaranteed and the value Blackstone Credit might secure was difficult to estimate given how volatility in commodity prices influences asset valuations. PRI Operating did not respond to comment requests. Founded in 2017, PRI Operating is backed by Blackstone Credit and management. In July, Reuters reported Blackstone Credit and Apollo Global Management were marketing for sale Canadian oil and gas producer Ridgeback Resources.

Search resuls for: "David French Shariq Khan"

4 mentions found