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Energy company and market news.

The U.S. Energy Information Administration (EIA) released its weekly report showing higher crude oil prices, but lower crude inventories. Crude oil supplies fell by 8.6 million barrels last week. While the drop was surprising to some, the numbers are still higher than the month-to-month five-year average. It...
Greenpeace, the global environmental watchdog agency, is taking yet another stab at Amazon in its recently released report entitled “Clicking Clean Virginia”. The report, released on February 13, focuses on what is known as the “Data Center Alley” located just outside Washington, D.C.Contrary...
An oil pump, credit: wikimedia commonsChesapeake Energy Corporation (NYSE: CHK) announced on October 30 that it has agreed to acquire WildHorse Resource Development Corp. (NYSE: WRD) in a cash and stock deal worth approximately $3.9 billion. The deal is expected to close...
Denbury Resources Inc. (NYSE: DNR) announced on October 28 that it will acquire Penn Virginia Corporation (NASDAQ: PVAC) in a deal worth approximately $1.8 billion. Penn Virginia shareholders will receive 12.4 shares of Denbury common stock and $25.86 of cash per share of Penn Virginia common stock...
Antero Midstream GP LP (NYSE: AMGP) announced on October 9 its plans to acquire Antero Midstream Partners (NYSE: AM) in a deal worth $3b. Morgan Stanley/Tudor Pickering, along with Goldman Sachs, will act as financial advisors for AMGP. Paul Rady, Chairman and CEO of Antero Resources and...
Key Energy Services, Inc. (NYSE: KEG) announced on September 24 an all-stock merger with Basic Energy Services, Inc. (NYSE: BAS) as part of a deal worth approximately $500 million. Key Energy Services believes this merger would generate incredible cost synergies including estimated annual run rate synergies of...
Enbridge Inc (NYSE: ENB) announced on August 24 its plans to purchase all outstanding shares of Spectra Energy Partners LP (NYSE: SEP) in a transaction valued at $2.8b. This deal will give Spectra investors 1.11 shares of Enbridge stock for every share of Spectra that they...
Diamondback Energy Inc (Nasdaq: FANG) and Energen Corporation (NYSE: EGN) announced on August 14 that they had entered a definitive agreement which will see Diamondback acquiring Energen in a transaction worth $9.2b. The deal will be funded completely with stock and includes EnergenÕs $830 million debt. This...
A pile of coal, credit: wikimedia commonsValueAct announced their stake in power producer AES in January 2018. Along with the equity holdings the Jeffrey Ubben will take a board seat and serve on the board's finance and compensation committees. Ubben has...