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Get Ready for Energy M&A Boom: Private Equity’s Next Shopping Spree

Get Ready for Energy M&A Boom: Private Equity’s Next Shopping Spree

- Oil + Gas Monitor
Let’s Go Shopping is what unprecedented numbers of energy investors are saying and their wallets are overflowing with cash. With October borrowing base redeterminations looming, many upstream and midstream companies are hanging For Sale signs on high-quality assets.
Circumstances are ripe for the next energy M&A boom based on the amount of capital raised by energy-focused private equity firms that are now poised to go bargain hunting during this current period of low commodity...

The Shale Patch Faces Reality

The Shale Patch Faces Reality

Shale producers lack the majors’ ability to remain afloat in an oil glut

- Bloomberg Business
Not long ago the oil industry looked like it had dodged a bullet. After the worst bust in a generation cut crude prices from $100 a barrel last summer to $43 in March, the oil market rallied. By June, prices were up 40 percent, passing $60 for the first time since December. Oil companies that had cut costs began planning to deploy more rigs and drill more wells. “We didn’t think we’d be quite this good,” Stephen Chazen, chief executive officer of Occidental...

Wall Street Lenders Growing Impatient With U.S. Shale Revolution

Wall Street Lenders Growing Impatient With U.S. Shale Revolution

Banks are already preparing for the next reevaluation of oil and gas credit lines, reviews which typically take place twice a year in April and October.

- Bloomberg Business
Halcon Resources Corp. almost ran into trouble with its banks in June 2013. And again in March 2014. And in February 2015.
Each time, the shale driller came close to violating debt limits set by its lenders, endangering a credit line that provided as much as $1.05 billion in much-needed cash. Each time, Halcon’s banks, led by JPMorgan Chase & Co. and Wells Fargo & Co., loosened their restrictions, allowing Halcon to keep borrowing.
That kind of patience may be coming...

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