Hints and tips:
...Repsol said the deal, which values its upstream business at about $19bn, just under the company’s total market capitalisation of $19.4bn, would “crystallise value” in the division while freeing up capital...
...Upstream companies “have prioritised consolidation”, said Andrew Dittmar, Enverus’s senior M&A analyst, as they respond to investor pressure to drive down costs and achieve scale....
...Between 2013 and 2017 private equity-backed companies participated in $50bn worth of deals in the upstream oil and gas market, compared with just $5bn between 2008 and 2012, according to 1Derrick, an oil...
...Through its upstream position in the supply chain, the country has a long-established role in global tech....
...Origin Energy rose 1.5 per cent after it said it would sell its conventional upstream oil and gas business Lattice Energy to Beach Energy for $1.2bn....
...The decline stemmed from an exit of an upstream asset in Marcellus shale, though the company met expectations on revenue....
...To establish a whole-of-industry approach to robust US-Mexico energy relations, Nafta negotiations should extend similar assurances for upstream investments....
...BP said the deal reflected its faith in the integrated oil and gas model — stretching from oil well to petrol pump — to create more value than upstream exploration and production assets on their own....
...In the largest transaction in the US upstream oil and gas production industry for almost three years, the deal will give Rice shareholders 0.37 shares of EQT and $5.30 in cash for every share, the two companies...
...Castleton Commodities, based in Connecticut, has expanded “upstream” in energy markets, buying eastern Texas acreage and wells from Anadarko Petroleum last year for more than $1bn and rolling them into Castleton...
...Then you could buy Cnooc, which has upstream potential, if it spends on capex....
...“It seems that Moody’s credit committee were not able to differentiate between an environment that is clearly challenging for upstream players and one that opens up opportunities for an asset light trader...
Linn Energy is creatively trying to maintain its payout
...Mr Falasi said that Enoc “appreciate Dragon Oil’s achievements to date” and that the company “has now achieved as much as is possible through its existing upstream strategy”....
...“There is great uncertainty in the sector and we believe, as a long term and supportive shareholder, that Dragon Oil has achieved as much as is possible through its existing upstream strategy,” he added....
...It could well be an instance where US upstream players should be careful what they wish for.”...
...The deal will help Alfa, one of the top 10 companies in Mexico by market capitalisation, gain better access to the country’s newly liberalised upstream sector....
...As we said, Linn is one of the rare “upstream” companies structured as an MLP. Just how rare? The reason for the paucity of oil/gas producer MLPs?...
...Noble has been reducing its direct exposure to upstream, or production, assets so that it can focus on trading and transportation of physical commodities – or what Mr Alireza has described as the company...
...Ali Moshiri, who runs Chevron’s upstream operations in Latin America and Africa, described YPF as “one of the best companies” that the US group has ever worked with....
...It has been reducing its direct exposure to upstream, or production, assets and so that it can focus on trading and transportation – or what its chief executive Yusuf Alireza has described as its core competency...
...LyondellBasell, Third Point added, had “a management team that is focused on being the lowest-cost commodity petrochemical producer and a clear strategy that is driven by upstream profit maximisation.”...
...We suspect that Dow’s push downstream has led the company to use its upstream assets to subsidize certain downstream derivatives either by sacrificing operational efficiency or making poor capital allocation...
...Third Point attacked Dow’s strategy of attempting to move downstream into more speciality chemicals at a time when the US upstream industry was becoming one of the world’s most competitive, thanks to the...
...The impairment highlights a broader problem for Shell – the weak performance of its Upstream Americas business....
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