PE CV? No Thanks, Says the LP

PE firms are increasingly using continuation vehicles but some LPs say “no thanks"; Alaska approves plan to build $566MM pipeline for LNG imports; Robotic trucks deliver sand for well drilling in Permian Basin; Woodside emerges as a global LNG powerhouse after a major deal with Tellurian.

Author

Rob Quigley
July 25, 2024

by VSO Petroleum Consultants. Oil and Gas industry news for those in the deal flow (Investors and A&D Professionals). Your daily source for the latest A&D/M&A news, industry news, and expert interviews.

First Things First:

PE firms are using continuation vehicles to kick the can down the road. Increasingly, their biggest clients are saying “no thanks.”

Private Equity Gets Creative to Buy Time for More Gains. Clients Say Pay Me Now

Private equity firms are using a form of financial engineering to buy more time for wringing returns from their under-achieving investments. Increasingly, their biggest clients are saying “no thanks.”

www.bloomberg.com/news/articles/2024-07-23/private-equity-gets-creative-to-buy-time-for-more-gains-clients-say-pay-me-now

Alaska approves plan to build $566MM pipeline for LNG imports.(HartEnergy)

Robotic trucks deliver sand for well drilling in Permian Basin.(Current Argus)

Woodside emerges as a global LNG powerhouse after a major deal with Tellurian.(HartEnergy)

VSO is the go-to consulting firm for buy-side technical due diligence. We can handle all your technical evaluations or can be your spare capacity when you need overflow help. If you’re in the deal flow, let’s work together.

Daily Headlines

  • PE firms are using continuation vehicles to kick the can down the road. Increasingly, their biggest clients are saying “no thanks.”(bloomberg.com)

  • Alaska approves plan to build $566MM pipeline for LNG imports.(HartEnergy)

  • Robotic trucks deliver sand for well drilling in Permian Basin.(Current Argus)

  • Venezuela grants license to BP, Trinidad's NGC for offshore gas project.(OE Digital)

  • 170 Alberta wildfires threaten 10% of Canadian oil and gas production.(Oil and Gas 360)

  • Woodside emerges as global LNG powerhouse after Tellurian deal.(HartEnergy)

  • U.S. oil stockpiles fall due to higher exports and demand.(HartEnergy)

  • EQT CEO warns of skyrocketing gas prices if fracking is banned.(World Oil)

  • Donald Trump energy policy for oil and gas donors.(WSJ)

Deal Flow

M&A/Investment

  • Alaska approves plan to build $566MM pipeline for LNG imports.(HartEnergy)

  • TC Energy close to selling $726MM pipeline stake to indigenous groups.(HartEnergy)

  • EQT’s non-op Marcellus assets pique international buyers’ interest.(HartEnergy)

IPO/Direct Listing/Issuances/Block Trades

  • Occidental offers $5 billion in bonds to fund CrownRock acquisition.(Rigzone)

  • Repsol posts double-digit profit growth in first half, announces new buyback.(UpstreamOnline)

Debt

SPAC

  • No deals to include in this category.

Bankruptcy/Restructuring/Distressed

  • No deals to include in this category.

Fundraising

  • No deals to include in this category.

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