Rocky Mountain producer Caerus Oil and Gas was sold to Quantum Capital Group in two transactions valued at $1.8 billion. The transactions include Caerus’ upstream and midstream assets spanning the Piceance Basin in western Colorado and the Uinta Basin in eastern Utah. The deals also include the acquisition of Caerus’ asset-backed securities and other liabilities. […]
Summit Midstream’s transformation into a crude oil-focused midstream company resulted in a sharp decline in natural gas traffic in the second quarter, as throughput fell 46% to 716 MMcf/d starting in the first quarter of 2024. In March, Summit announced it was selling its Utica Shale assets to a subsidiary of MPLX for $625 million. […]
Vicki Hollub, president and CEO of Occidental Petroleum, took the microphone on August 8 and told M&A dealers, buyers and investors: “Some people think this is a fire sale, but it is not.” Hollub was responding to questions during Oxy’s earnings call last week about Oxy’s Plan B to raise another $3.5 billion through asset […]
