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...We have talked about Spacs — or special purpose acquisition companies — before, and there’s more to come from team DD on the subject....
...(FT) Drilling down The Permian Basin straddling Texas and New Mexico has made the surrounding areas attractive locations for those chasing the US oil boom, and this time they think it will last....
...However, there has been an upturn in deals this year, as rising energy prices have led companies to make acquisitions to fill gaps created when commodity prices plummeted....
...But it also announced a financing joint venture with GSO Capital Partners, in which the lender would fund $500m in drilling costs....
...It also announced a $500m drilling joint venture with the lending affiliate of Blackstone, whereby the fund puts up all the cash and earns a preferred return....
....”* The US shale oil boom of the past five years has been led by small and midsized companies, which have generally spent more on drilling wells than they have earned in cash from operations, meaning that...
...Last year, Carlyle committed up to $200m in Discover Exploration, a start-up that has been drilling for oil off the coast of New Zealand....
...The writedown showed that the results from Shell’s exploration drilling for oil in its US shale acreage have been much worse than it anticipated....
...Lenovo would likely face stiff opposition from Cfius, the official committee in Washington which reviews foreign acquisitions of key US assets, one person said....
...They say Dockwise, which had €380m in sales last year, has recently completed hundreds of millions of euros in investments and is poised to profit from growing demand for shipment of drilling rigs and other...
...Abdul Jaleel Al Khalifa, Dragon’s chief executive, said further investment in its fields in Turkmenistan should see average production rise by a further 10 per cent or more this year following the drilling...
...Duelling with pistols is illegal. Duelling with numbers is not. Last week Ms Whitman impugned the honour of Mr Lynch with a writedown in the value of the software business he founded and ran....
...The announcement coincided with a drilling update on its operations in the Caspian Sea off the coast of Turkmenistan that pointed to further production increases....
...Benchmark gas is less than half the price of a year ago as drillers have used horizontal drilling and hydraulic fracturing to release the fuel from previously uneconomic shale rocks....
...Shares in Bowleven had been trading around the 80p mark since last November, amid growing concerns over its ability to fund a drilling campaign in west Africa without outside help....
...The agreement comes as private equity groups look for opportunities thrown up by the glut of fuel created by new drilling technology....
...Tullow’s drilling at the onshore well, one of seven it is drilling across Kenya’s and Ethiopia’s rift basins, suggested a commercial discovery....
...Shares in Bowleven had been trading around the 80p mark since last November, amid growing concerns over its ability to fund its drilling campaign in west Africa this year without outside help....
...Leni Gas & Oil crept up 3.5 per cent to 1.2p as drilling at its Eugene Island Field in the US Gulf of Mexico commenced and Frontera Resources received a 9.2 per cent boost to 1¼p after its chairman and...
...The process demands high pressure pumping systems and highly abrasive horizontal drilling techniques to extract oil and gas from rock formations....
...The state-owned chemicals group, Sinochem, emerged victorious with its $3.1bn offer, even though it had less than a decade of offshore drilling experience....
...Merger and acquisition activity is also likely to be affected....
...FT Energy Source: Why keep drilling for natural gas? Why are US gas producers continuing to drill so much?, the FT’s Kate Mackenzie asks....
...Petroceltic last year completed a successful drilling campaign in which it made a large gas condensate discovery at its Isarene Permit in Algeria....
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