oil and gas private equity uk

She joined Denham in 2019. Investors rush to the rescue as Rolls-Royce lands £2bn lifeline as it struggles to survive the pandemic, Cash is not dead yet! Debt-laden Premier Oil has agreed to a tie-up with private equity-backed group Chrysaor that will create the largest independent North Sea oil and gas producer. The company’s market cap increased 71 per cent year-on-year on the back of equity-funded acquisitions and progress on their Israeli gas development project. Ursa Resources Group II is an oil and gas exploration and production company primarily focused on the Piceance Basin in Colorado. See Terms of Use for more information. Mr Tveit said: “The UK and Norwegian governments need to take a hard look at support schemes rather than getting bogged down in red tape and principles. Where can investors look for shares that will benefit from a coronavirus recovery? Greene’s Energy Group is an oilfield services company focused on the completions and production markets in South Texas, West Texas and New Mexico and also has certain divisions in Louisiana. Prior to founding Denham, Stu was a founding partner of Sowood Capital Management LP and, prior thereto, was employed as a Vice President and Portfolio Manager at Harvard Management Company, Inc. where he focused on public and private transactions in the energy and commodities sectors. If you continue to use this site or close this banner, you agree to our use of cookies. Anil earned a Bachelor of Business Administration in Finance and Economics from The University of Texas at Austin. We do not allow any commercial relationship to affect our editorial independence. Premier Oil's $2.7billion (£2.1billion) gross debt 'will be repaid and cancelled' once the deal is completed, the company said today, while its creditors will receive $1.23billion (£950million) cash payment and shares in the group. Prior to joining Denham, Zack was an Analyst in the Global Natural Resources Group of the Investment Banking Division of Barclays, where he focused on the oil and gas industry. Prior to joining Denham, Zac was an Analyst in the Energy Investment Banking Group of Evercore Partners and an Analyst in the Energy Investment Banking Group of Raymond James. Stuart Lamont, investment manager at Brewin Dolphin, said the tie-up should provide some certainty for the struggling group's future. What next for Neil Woodford and his investors? The sector requires new business models, rationalized portfolios, accelerated investment in digital technologies and greater capital flexibility. Jordan Marye is a Managing Partner of Denham Capital where he leads the firm’s Oil & Gas investment effort. It has recovered since, sitting at around $40 a barrel today. Chrysaor produces just under 200,000 barrels of oil per day, which combined with Premier's output of around 70,000 barrel would make the new company the biggest oil and gas producer in the British North Sea, topping BP. Industry body Oil and Gas UK warned this week that up to 30,000 oil jobs could be lost over the next 12-18 months, with the service sector bearing the brunt of the cuts. He is currently on the Board of Directors of Atlantic Resources, Live Oak Resource Partners, Ursa Resources Group II, Haymaker Minerals, and Horizon Resources. Steven graduated cum laude with a Bachelor of Business Administration in Finance, Texas A&M University. He joined Denham in 2008. endstream endobj startxref 180 0 obj <>/Filter/FlateDecode/ID[<2E760675B4756546A2768484BB0EA4A8>]/Index[164 32]/Info 163 0 R/Length 82/Prev 1162623/Root 165 0 R/Size 196/Type/XRef/W[1 2 1]>>stream He claimed that receiving emergency loans in the US was a far more straightforward process, describing it as a “rubber stamp job” with little due diligence involved. Live Oak Resource Partners is focused on the acquisition of oil and natural gas royalty and mineral interests. The total market capitalisation of the top 25 upstream independents declined 15 per cent to £9.8 billion in 2019 from £11.5 billion in 2018. We believe that business leaders and organizations that focus on operational and technical excellence, entrepreneurial business development and professional integrity are best positioned for success. What kind of rescue could trigger a stock market bounce back? VAT number: 769 3613 91 The oil markets are being shaken by the unfolding impact of the COVID-19 pandemic on global oil demand and the subsequent geopolitical turbulence. Mr Dalgarno added that many private equity firms have “significant dry powder” and are likely to be “active”. The combined exploration and production company is headquartered in Frisco, Texas and focused on developing the Haynesville. Stu previously worked for Bacon Investments and at J. Aron, a division of Goldman Sachs. Deal: Premier Oil has agreed to a reverse merger with private equity-backed group Chrysaor. Prior to joining Denham, Steven was an Analyst in the Energy Investment Banking Group of Evercore Partners and an Analyst at GulfStar Group. Nick Dalgarno, managing director of investment banking firm Simmons Energy, said prospective Middle East buyers had shown a “quite a lot of interest” in the sector in recent weeks. Strong interest from the Middle East and private equity houses could provide a glimmer of hope for an ailing UK oilfield service sector, an investment expert has said. Hurricane Energy downgrade ‘dashes hopes’ for UK production resurgance – Rystad, North Sea industry ‘still in control’ despite recent Covid resurgence, Kishorn Port plans drydock extension to decommission FPSOs, Aberdeen Offshore Wind Farm operator posts profits of £10million, Statkraft reports ‘strong response’ from local supply chain over £20m electricity grid scheme, Oil pares losses after U.S. crude and fuel supplies decline. He joined Denham Capital in 2016. “If some rules related to government schemes are going to survive in their current form, we are going to see much higher casualty rates in the UK and Norway than in the US and other regions and that would not make sense.”. Energy investment experts have branded the UK Government’s Covid-19 business loan schemes “virtually inaccessible” and “worthless” to oilfield service firms. Prior to joining Denham, Van was a Senior Engineering Analyst at Macquarie Bank and a Petrophysical Technician at Petrophysical Solutions, Inc. Van earned a Bachelor of Arts in English at the University of Texas at Austin. Along with a full variety of investment opportunities, midstream investments also enjoy the full Then this year the pandemic struck and the price of Brent Crude went from almost $70 a barrel in January to below $20 in April after demand plummeted as countries around the world went into lockdown. © Energy Voice 2020. The newly formed group, which will have a new name, will be run by current Harbour chief executive Linda Cook, while Chrysaor boss Phil Kirk will be president and chief of its European business. Prior to joining Denham in 2020, Christine was an Associate in the Energy Investment Banking Group of RBC Capital Markets. Horizon Resources is focused on the acquisition of royalty, mineral and non-operated working interests in the Denver Basin. He joined Denham Capital in 2018. “We’ve been working closely with both the UK and Scottish government from the beginning of the pandemic to ensure this industry can continue to provide secure and affordable energy the UK needs, while also supporting thousands of job across the UK and contributing to public services through taxation.”, Perenco submits plan to decommission four platforms at North Sea gas field. Debt-laden Premier Oil has agreed to a tie-up with private equity-backed group Chrysaor that will create the largest independent North Sea oil and gas producer. Oil prices moved between $55 and $75/barrel in 2019. © 2020 Denham Capital. Our investment efforts span the oil and gas value chain with emphasis on North American Upstream E&P and Midstream. Telecommunications, Media & Entertainment, The UKCS upstream supply chain collaboration survey 2019, COVID-19’s impact on oil, gas, and chemical organizations, Regulators & Provision of Services Regulations. Matt earned an Associate of Arts degree in Natural Science from Northwestern State University and a Bachelor of Science in Interdisciplinary Studies from Louisiana State University. He believes investment from some family-owned groups could be an “early source of recovery” in the service cycle. 0 This is about the survival of a very large industry. Five tips to bag a bargain and why you need to check prices elsewhere too, CONSUMER FIGHTBACK: Ten steps to get the best insurance to protect against storms and floods - and how to make a successful claim, As Scottish Power takes on 130,000 customers from failed energy supplier Tonik, we reveal how recent mergers in the sector have shaken up the 'Big Six', The shoddy service backlash: Two weeks ago we called time on firms using Covid 19 as an excuse... now we name and shame the worst offenders, BEN WILKINSON: Stop letting feeble firms get away with shoddy service... take your business elsewhere, Watchdog to investigate Klarna after email complaints: 'Buy now, pay later' service admits it holds details of people who've never used the app. He received a Bachelor of Science in Petroleum Engineering from The University of Texas at Austin and a Master of Business Administration with High Honors from the University of Chicago Booth School of Business. Some links in this article may be affiliate links. © 2020. Erin Van Volkenburgh is a Technical Director, responsible for technical screening and valuation, risk assessment and portfolio management for the Oil & Gas Team. We do not write articles to promote products. Find out more about our locations and what it's like to work across all our offices within the UK, Discover our supported hiring opportunities, At Deloitte we believe in diversity in all its forms, Who are the top 25 independent FTSE oil and gas producers? He graduated summa cum laude. ,��B�0�c-�3l In July 2019, Denham sold Covey Park Energy to Comstock Resources (NYSE: CRK) for $2.2 billion and retained an interest in the pro forma company. He joined Denham Capital in 2012. Oil companies have been struggling in recent years amid lower demand and price volatility, triggered in part by a slowdown in the economic growth of big oil consumers like China.

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