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Magnolia Oil & Gas Prices Share Offering at $23.75 Apiece

Magnolia Oil & Gas (MGY) priced its underwritten public offering of 46.3 million class A shares at $23.75 per share, the company said late Monday.Underwriters have a 30-day option to purchase up to an additional 6.9 million shares, Magnolia Oil & Gas said.The offering is expected to close on Wednesday, subject to customary closing conditions.Net proceeds, together with proceeds from a concurrent senior notes offering, borrowings under its revolving credit facility and cash on hand will be used to fund the cash consideration for its acquisition of WildFire Intermediate.

$MGY

Equities22d ago

Aldrees Petroleum Posts Higher H1 Attributable Profit, Revenue

Aldrees Petroleum and Transport Services (SASE:4200) said Tuesday that attributable profit and revenue for the first half grew year over year.Net profit attributable to shareholders of the issuer for the six months ended June 30 was 234.1 million Saudi riyals, compared with 197.7 million riyals earlier. EPS moved to 2.34 riyals from 1.98 riyals.The Saudi Arabia-listed gasoline service station operator's revenue was 14.16 billion riyals, compared with 12.04 billion riyals a year ago.

SASE:4200

Equities22d ago

BlueNord to Merge into Vår Energi; Eni to Retain Majority Stake in Vår Energi

BlueNord (BNOR.OL) agreed to merge into fellow Norway-listed oil and gas company Vår Energi (VAR.OL), according to a Tuesday release.Under the deal, BlueNord shareholders will receive 9.7153 newly issued Vår Energi shares and 76.83 Norwegian kroner in cash for each share held.Vår Energi shareholders will own 90.95% of the outstanding shares, while BlueNord shareholders will own 9.05% of the shares in Vår Energi upon completion of the deal. Eni (ENI.MI) is expected to remain the long-term strategic majority shareholder with 57.33% ownership.Subject to the approval by BlueNord shareholders and regulatory clearances, the transaction is expected to close by the end of 2026.

$BNOR.OL$ENI.MI$VAR.OL

Equities22d ago

Keo Capital Signs LoI for Keo Energy's Potential Combination With Lionheart Holdings

Keo Capital (KEOC.ST) signed a nonbinding letter of intent for the potential combination of its Keo Energy unit with Lionheart Holdings.The financial technology company said Monday that the potential combination will result in a US listing of Keo Energy with an indicative pre-money enterprise value of $400 million, subject to the final determination of applicable fiscal terms with the Venezuelan government.Keo Energy's principal asset comprises an indirect equity interest in a joint venture holding interests in the PetroUrdaneta Project in the Bolivarian Republic of Venezuela.The parties are targeting a listing on the Nasdaq bourse's Capital Market tier.

$KEOC.ST

Equities22d ago

Fitch Lifts Constellation Oil Services' Rating on Renewed Rig Contracts

Fitch Ratings said Monday it upgraded its long-term issuer default rating on Constellation Oil Services (COSH.OL) to B+ from B, with a stable outlook.The upgrade is supported by the company's ability to secure renewal of three rig contracts at higher day rates and better utilization, resulting in improved earnings visibility and deleveraging.Fitch also pointed to the company's limited global scale and geographic concentration as additional factors affecting the rating.

$COSH.OL

Equities22d ago

Andy Burnham Becomes UK's Seventh PM in a Decade

Andy Burnham became the UK's seventh prime minister in a decade on Monday, after King Charles III formally asked him to form a government, CNBC reported Monday.Burnham confirmed he accepted the role, the report said.In his first speech as premier, Burnham said he would pursue a "new economic model," including bringing essentials under stronger public control and using public procurement to back British industry, according to the report.President Donald Trump welcomed Burnham's plan to fast-track oil and gas exploration in already-licensed North Sea fields, CNBC reported, adding that Trump said on social media that North Sea oil could help transform the UK's economic fortunes.

Equities22d ago

Magnolia Oil & Gas Launches $1 Billion Public Offering

Magnolia Oil & Gas (MGY) said late Monday it has started an underwritten public offering of $1 billion of its Class A shares.Underwriters will have a 30-day option to buy up to an additional $150 million of its shares, the company said.Magnolia said it plans to use the net proceeds to help fund its acquisition of WildFire Intermediate Holdings.Shares were down over 5% in after-hours trading.

$MGY

Equities22d ago

EU Recommends Three-year Delay to Penalties for Breaking Methane Emissions Rules

The European Commission recommended that European Union countries delay penalties for three years on fossil fuel importers that fail to meet the bloc's regulation on reducing methane emissions.In a Monday release, the commission said fines for noncompliance should be suspended from 2027 through 2029 to prevent supply disruptions. It also recommended simpler ways for importers to demonstrate their compliance with the regulation.The emissions monitoring requirements for oil, gas and coal importers and suppliers are set to be implemented from Jan. 1, 2027.

^SXXP

Equities22d ago

Oil Falls on Reports Iran-US Talks May Resume Despite Continued Fighting

Oil prices fell early Monday on reports that talks between Iran and the US may resume, even as the two sides continued to exchange attacks.West Texas Intermediate crude for August delivery was last down $1.52, or 1.8%, at $80.97 a barrel, while September Brent crude fell $1.19, or 1.4%, to $86.91.The decline followed reports that Iran remains open to a negotiated settlement to the war launched by the US and Israel on Feb. 28, The Guardian reported. Iranian officials said mediators continue to exchange messages aimed at ending the conflict, while US Secretary of State Marco Rubio said he is open to fresh talks.Fighting still continued over the weekend, with Iran striking ships transiting the Strait of Hormuz and the US attacking targets in Iran. The conflict has left ships trapped inside the Persian Gulf, disrupting traffic through the Strait of Hormuz, the key chokepoint for exports from Persian Gulf producers that supplied about one-fifth of global oil demand before the war.Shipping through the Strait has almost stalled amid the fighting, with hormuzstraitmonitor.com reporting just four ships have moved through the waterway over the past day, leaving 490 ships, including 175 tankers, trapped and waiting for a peace deal that is likely to favor Iran."Little has changed from the underlying fundamentals prevailing earlier in the conflict. Iran's leaders fear a disadvantageous peace more than a disadvantageous war, risking a prolonged conflict even at greater long-term economic cost. A more constructive-leaning take on the recent fighting is that this represents a last-ditch US attempt to find a geopolitical hook to avoid a strategic defeat, before accepting a reopened Strait under some Iranian influence," Erik Meyersson, Chief EM Strategist at SEB Research wrote.

$CLQ6$LCOU6$USO

Equities22d ago

Stephens Adjusts Price Target on APA to $43 From $47, Maintains Equalweight Rating

APA (APA) has an average rating of hold and mean price target of $42.68, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

$APA

Equities22d ago

Market Chatter: Mediators Propose 10-Day Ceasefire Between US and Iran

Iran has received a proposal from mediators through which the US would offer a 10-day ceasefire in order to attempt to revive an interim deal the two nations reached last month, Reuters reported Monday, citing a senior Iranian official.The White House didn't immediately reply to a request for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Equities22d ago

BP Divests Retail, EV Charging Businesses in Austria

BP (BP.L) agreed to sell its mobility, convenience, and electric vehicle charging operations in Austria to Switzerland-based Volenergy for an undisclosed sum.The deal covers the oil and gas giant's BP Retail Austria unit along with its associated Austrian fleet business and shares in three non-operated joint ventures, according to a Monday release. It includes 250 BP-branded retail sites, of which around 115 are company-owned, as well as electric vehicle charging infrastructure.The transaction is expected to be completed at the end of 2026, subject to regulatory approvals.BP said its aviation business, Air bp, in Austria, and Castrol are not part of the deal.

$BP.L

Equities22d ago

Magnolia Oil & Gas to Acquire WildFire Energy for $4.06 Billion

Magnolia Oil & Gas (MGY) said Monday that it has signed a definitive agreement to acquire WildFire Energy for about $4.06 billion, including debt and subject to customary purchase price adjustments.Under the terms of the deal, WildFire shareholders will receive 32.2 million Magnolia shares, and Magnolia will also assume WildFire's $600 million of outstanding notes due 2029, according to a statement.Magnolia said it intends to fund the remaining amount through existing cash, debt, and new equity. The company said it has also secured committed financing from JPMorgan Chase (JPM), Citigroup (C) Global Markets, and Wells Fargo (WFC).The company added that it has amended its secured credit facility to a $2 billion borrowing base, with elected commitments of $1.75 billion subject to the transaction's completion.Magnolia said it expects the acquisition to be immediately and highly accretive to its cash flow and earnings per share, and to generate over $100 million in annual synergies and cost savings.Magnolia said the acquisition, expected to close in late Q3, has received unanimous approval from its board.Magnolia shares were up 1.5% in Monday's premarket activity.

$C$JPM$MGY$WFC

Equities22d ago

BP to Sell Retail Austria Unit to Volenergy

BP (BP) agreed to sell its BP Retail Austria unit, which houses its mobility, convenience, and electric vehicle charging businesses in the country, to Volenergy, according to a Monday statement.Financial terms were not disclosed.The sale includes 250 bp branded retail sites that will continue to operate under the BP brand due to a brand license deal, but excludes Castrol and the company's aviation business in Austria, BP said.BP expects to close the sale at the end of the year, according to the statement.

$BP

Equities22d ago

Magnolia Oil & Gas Signs Deal to Acquire WildFire Energy for $4.06 billion

$MGY

Equities22d ago

Social Buzz: Wallstreetbets Stocks Mostly Advancing Premarket Monday; Sandisk, Micron Technology to Open Higher

The most-talked-about stocks in the Reddit subforum Wallstreetbets were mostly higher hours before Monday's opening bell.Sandisk (SNDK) was up 4.1% in pre-bell activity, after closing Friday with a 4% decline.Micron Technology (MU) advanced by 4.1% premarket, reversing a 0.5% decline from the previous session.AST SpaceMobile (ASTS) was 2.6% higher pre-bell, after a 5.1% increase from Friday's session.SpaceX (SPCX) rose by 1.9% hours before market open, swinging from a 5.4% decline at Friday's close.DTE Energy (DTE) was up 1.1% in premarket activity, following a 0.5% decline from the previous session.Nvidia (NVDA) advanced by 0.7% pre-bell, after a 2.2% decline from Friday's session.Alphabet (GOOG) was 0.5% higher in premarket hours, swinging from a 2.2% fall at Friday's close.Microsoft (MSFT) declined by 0.4% pre-bell, after a 1.8% fall at Friday's close.

$ASTS$DTE$GOOG$MSFT$MU$NVDA$SNDK$SPCX

Equities22d ago

Moody's Revises Outlook on Neste to Stable on Improved Credit Metrics

Moody's on Monday changed its outlook on Finnish oil refiner and renewable fuel producer Neste (NESTE.HE) to stable from negative, citing an improvement in its credit metrics.The revision reflects the company's improved credit metrics as well as the rating agency's expectation that its debt-to-EBITDA ratio will fall to 1.5x by the end of 2026, down from 2.6x in March, driven by strong annual results supported by the supply shock caused by the war in the Middle East. In addition, the ratio is expected to remain below 2x in 2027.Moody's also affirmed Neste's A3 long-term issuer rating, highlighting that it continues to benefit from moderate support from the Finnish government, which owns 44.2% of the company.

$NESTE.HE

Equities23d ago

Update: Market Chatter: Shell Sets in Motion Process to Progress Venezuela's Dragon Offshore Gas Project

(Updates with Shell's response in the third paragraph)Shell (SHEL) has kicked off a tendering process for drilling services at its Dragon offshore gas project in eastern Venezuela, pressing ahead with its plan to start drilling four wells from Q2 2027, Reuters reported Tuesday, citing two unnamed people familiar with the process.The contract is expected to be awarded by the end of September, the people told the news agency, if a positive final investment decision is made for the 4.2 trillion-cubic-foot development."We continue to progress the Dragon project in full compliance with applicable laws, regulations and sanctions," Shell said Friday in an emailed statement to.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

$SHEL

Equities23d ago

BW LPG Divests BW Levant Vessel

BW LPG (BWLPG.OL) divested its BW Levant ship to an undisclosed buyer, according to a Monday release.The liquefied petroleum gas shipping company expects to receive $38 million in net cash proceeds from the transaction. Delivery of the 2015-built ship to the buyer is expected in mid-November 2026.

$BWLPG.OL

Equities23d ago

Jadestone Energy Brings Second Well Online at Malaysian Project

Jadestone Energy (JSE.L) completed drilling the second well in its 2026 Malaysia infill drilling campaign.The well was brought online at 2,800 barrels of oil per day, the independent upstream production and development company said Monday.The company has also drilled a third contingent well following encouraging results from the first two wells, with results to be reported in due course.

$JSE.L

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