Hints and tips:
...The combined company, which will also have operations in Latin America, will be led by Patterson-UTI chief executive Andy Hendricks....
...Oil producers hedge prices in futures and other derivatives markets to guard against price drops and ensure they have cash to fund drilling, debt payments and other expenses....
...On Thursday, Patterson-UTI Energy and NexTier Oilfield Solutions agreed to merge in an all-stock deal that would create a bigger provider with an enterprise value of $5.4bn....
...Kahoot, the educational technology company, has appointed former BT Group chief executive Gavin Patterson to chair its board as it prepares for an expansion under new owners including Goldman Sachs....
...“There have been fewer LBOs and therefore less new loan volume,” said Michael Patterson, a governing partner at asset manager HPS Investment Partners....
...The UK’s previous adherence to green energy policies has taken a heavy toll on UK-focused oil and gas companies....
...Many an old economy company has tried to rebrand itself as a modern tech upstart, with mixed success. But for Denbury the plan seems to be working....
...Biden has accused the companies of “war-profiteering”....
...FIS is spinning off Worldpay, having failed to integrate the two companies successfully....
...Despite soaring oil and gas prices, it seems energy companies are not drilling....
...Oil people like cash well enough — but they really like drilling wells....
...“We haven’t really seen the other side of it yet,” Patterson said. This article has been amended to correct the name of HPS Investment Partners...
...Analysts said the move could free Continental to do what public producers have for months been told by Wall Street not to: fire up drilling rigs to capitalise on a surge in oil prices to well above $100...
...Cost inflation stemming from supply chain and labour constraints are also deterring companies from more drilling....
...While the 2020 oil crash hit Occidental hard, forcing it to cut its dividend and rein in drilling plans, it has been one of the stars of the recovery, as months of capital discipline and rising oil prices...
...The drilling programme could last until 2026 with the necessary regulatory approvals, the company said....
...But even if a fund is heavy on tech, it’s still worth drilling down to see what sort of tech companies it holds. Take Liontrust Sustainable Future Global Growth, a UK-domiciled fund....
...Mining’s digital drill-downA group of investors is drilling digital disruption into the $1.6tn global mining industry....
...“We have advocated for industry consolidation as there are too many undersized and irrelevant companies drilling shale wells,” said Mark Viviano, head of public equities at Kimmeridge, which has built up...
...Chesapeake grew famous more than a decade ago as it spearheaded the shale revolution, amassing a huge drilling position through debt-fuelled acquisitions that for a while made the company the second-biggest...
...Biden officials said there was nothing stopping drillers from drilling. Both agreed on another guilty party: Wall Street....
...Enbridge, the Canadian pipeline company, is betting on sustained strength in US energy production with a $3bn purchase of assets including a crude oil export terminal in Texas that is North America’s largest...
...For BP, which owns half of Lightsource BP, Bighorn underlines the company’s strategic shift into clean energy, said David Lawler, head of the UK oil company’s operations in the US....
...“It’s one more arrow in the quiver of opponents,” said Paul Patterson, an analyst at Glenrock Associates. “Environmentalists seem to be going after the economics more.”...
...“Having been a CEO of a listed company, relatively young, it is quite difficult to find something on the executive front you want to do afterwards that feels like progression,” says Mr Patterson....
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