It’s likely that the BHP deal with Woodside signals that the era of paying premiums to acquire oil and gas assets is over. From now on, companies seeking to offload these type of assets might be forced to accept ever-diminishing prices.
The merger of BHP Group’s oil and gas arm with Woodside Petroleum is expected to create a global top 10 independent energy company worth about $28 billion.
Private equity firm Riverstone is offering the roughly 12.3 million shares of Class A common stock it still owns in Liberty Oilfield Services in a public offering priced at $15.60 per share.
The Ovintiv board has named Brendan McCracken as president and CEO, effective Aug. 1, as part of a comprehensive succession planning process, says Board Chair Peter Dea.