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Borr Drilling Prices Oversubscribed Offering of $260 Million Convertible Senior Notes

Borr Drilling (BORR.OL) priced a $260 million offering of 3.50% convertible senior notes due May 1, 2033, according to a Wednesday statement.The drilling contractor plans to use the proceeds to repurchase $195.2 million of its 2028 convertible bonds for $224.5 million, including accrued interest. Remaining proceeds will be used for general corporate expenditures.The drilling contractor also granted an overallotment option for up to $40 million. Completion of the offering is expected by Friday, subject to closing conditions.

$BORR.OL

Equities69d ago

Hunting PLC Q1 Order Book Falls

Hunting PLC (HTG.L) said Wednesday its sales order book for the first quarter declined year over year.The precision engineering company's sales order book for the three months ended March 31 was $365.3 million, compared with $439.3 million a year earlier.Meanwhile, the company expects "minimal" impact on its current year profitability from the Middle East conflict.

$HTG.L

Equities69d ago

Tasnee Flags Maintenance Delay at JV Plant Amid Global Supply Chain Disruptions

National Industrialization Co. (SASE:2060), d/b/a Tasnee, said Wednesday the scheduled maintenance at its ethylene and polyethylene plant was delayed due to global supply chain disruptions.The Saudi Arabia-listed petrochemical company will announce a revised start date in due course, adding that the financial impact of the shutdown will be reflected in its first and second-quarter earnings.Tasnee owns a 60% stake in the facility, which operates as a joint venture.

SASE:2060

Equities69d ago

Borr Drilling Plans $250 Million Senior Notes Offering

Borr Drilling (BORR.OL) said Tuesday it plans to offer $250 million of convertible senior notes due 2033 to qualified institutional buyers.The notes, which will pay interest semi-annually, can be converted into common shares or a mix of both stock and cash. Initial buyers will also be granted an overallotment option to buy up to an additional $37.5 million of the notes within 13 days.The drilling contractor will use the proceeds to repurchase existing convertible bonds due 2028, as well as for general corporate purposes.

$BORR.OL

Equities69d ago

OMV Denies Violating Austria's Fuel Price Reduction Measures

Austrian oil and gas company OMV (OMV.VI) denied breaking new fuel price reduction rules in Austria, Reuters reported Tuesday.Under the government's measures, petrol and diesel prices were to be cut by 0.05 euro per liter through a tax reduction. Partially state-owned OMV announced a reduction of 0.028 euro per liter for diesel, the report said.OMV told Reuters it is complying with the rules, noting that its calculation differs when accounting for fuel imported into Austria rather than refined locally.

$OMV.VI

Equities69d ago

Presidio Production Declares Pro Rata Special Cash Dividend of $0.10125 a Share; Payable May 18 to Shareholders of Record May 4

$FTW

Equities70d ago

EQT Keeps Quarterly Dividend at $0.165 per Share, Payable June 1 to Shareholders of Record on May 6

$EQT

Equities70d ago

Dolphin Drilling Signs Letter of Intent for Semi-submersible Rig

Offshore drilling contractor Dolphin Drilling (DDRIL.OL) signed a letter of intent with an undisclosed party for the potential use of its semi-submersible rig Borgland Dolphin.The agreement allows the parties to negotiate a potential $230 million contract, which will begin in the second half of 2027 and includes options to extend for five more years, according to a Tuesday release.The deal will proceed following the receipt of approvals from the parties' management.

$DDRIL.OL

Equities70d ago

Sintana Energy Plans Listing on Namibia Securities Exchange

Sintana Energy (SEI.L) on Tuesday said it initiated talks to trade on the Namibia Securities Exchange to explore options to develop liquidity for local investors.The oil and gas company, which is listed in Canada's TSX-V, the UK's London exchange and the US' OTCQX, tapped IJG Securities as its sponsor and corporate adviser.

$SEI.L

Equities70d ago

Market Chatter: Shell Said to Pick Adnoc as Preferred Bidder for South African Retail Fuel Stations

Shell (SHEL.L, SHELL.AS) is tipped to have named Abu Dhabi National Oil Co., or Adnoc, as the preferred bidder for its South African retail fuel stations in a deal potentially worth $1 billion, Bloomberg News wrote.People with knowledge of the matter said, according to the Tuesday report, that the deal, which is expected to be reached as early as this quarter, follows failed talks between energy giant Shell and commodities trading group Gunvor Group.Shell and Adnoc did not immediately respond to requests 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.)

^FADGI^JTOPI$SHEL.L$SHELL.AS

Equities70d ago

Capital One Adjusts Price Target on Devon Energy to $63 From $64, Maintains Overweight Rating

Devon Energy (DVN) has an average rating of overweight and mean price target of $58.23, 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://www..com/contact-us)

$DVN

Equities70d ago

Deutsche Bank Adjusts Venture Global Price Target to $16 From $14, Maintains Buy Rating

Venture Global (VG) has an average rating of overweight and mean price target of $14.37, 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://www..com/contact-us)

$VG

Equities70d ago

Citigroup Adjusts Price Target on EOG Resources to $142 From $150, Maintains Neutral Rating

EOG Resources (EOG) has an average rating of overweight and mean price target of $153.97, 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://www..com/contact-us)

$EOG

Equities70d ago

JPMorgan Adjusts Price Target on Diamondback Energy to $228 From $225, Maintains Overweight Rating

Diamondback Energy (FANG) has an average rating of overweight and mean price target of $217.03, 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://www..com/contact-us)

$FANG

Equities70d ago

Berenberg Lowers Repsol Estimates, Price Target After Q1 Update

Berenberg cut its financial forecasts and price target for Repsol (REP.MC) after the Spanish energy group's first-quarter trading update."Repsol reported its Q1 2026 trading update on 9 April with a solid upstream performance offset by slightly weak numbers in refining - spot margins are volatile and the outlook here is likely to be key for Repsol over the coming months, in our view," analysts said Monday. "Overall, we reduce our Q1 group EBIT forecast to EUR1.3bn (5% ahead of Bloomberg) and our Q1 adjusted net income to EUR875m (5% behind Bloomberg). We take a slightly more cautious outlook on near-term refining margins and make some other modelling adjustments."Over 2026 to 2028, adjusted EPS estimates were reduced by 20.6%, 16.7%, and 18.6%, respectively. Projections for dividend per share were lowered by 4.7%, 4.5%, and 4.5%.Ahead of first-quarter earnings on April 30, the price target was cut to 27 euros from 29 euros, with an unchanged buy rating.

$REP.MC

Equities70d ago

BP Expects Flat Q1 Output, Flags Higher Net Debt

BP (BP) said Tuesday its Q1 upstream production is expected to be "broadly flat" from the previous quarter, while cautioning that energy market volatility may pressure results and widen price fluctuations.The company expects its group underlying effective tax rate to be around 35% and forecasts capital expenditure to remain broadly steady with the prior quarter at approximately $3.5 billion.Net debt is projected to rise to between $25 billion and $27 billion, driven largely by a $4 billion to $7 billion working capital build linked to higher commodity prices.BP said gas and low-carbon output will be slightly higher and oil production lower, with weaker retail volumes offset by stronger refining margins and exceptional oil trading.

$BP

Equities70d ago

Equinor Cuts Stake in Scatec

Equinor (EQNR) said Tuesday it has sold an 8.07% stake in Scatec at 125 Norwegian Krone ($13.26) per share, generating proceeds of about 1.6 billion Norwegian Krone.The company said it retains an 8.05% stake and has agreed to a 90-day lock-up on its remaining shares following the transaction.The companies will continue their joint operations in solar projects in Brazil, including Apodi and Mendubim, which are unaffected by the sale, it added.

$EQNR

Equities70d ago

Wildcat Petroleum Renames as Wildcat Gold

Wildcat Petroleum (WCAT.L) said Tuesday it changed its name to Wildcat Gold to reflect its new focus on gold processing projects.The petroleum investor's new name will take effect on the London stock exchange on Wednesday, without changing its ticker.

$WCAT.L

Equities70d ago

Block Energy Executes Binding Framework Deal to Farm-Out Project III in Georgia

Block Energy (BLOE.L) said Tuesday that it has executed a binding framework deal with China-based Zhijiang Sanning Energy Co. for the farm-out of Project III in Georgia.The UK-listed oil and gas company noted that the deal includes a $75 million carry comprising appraisal drilling and early construction for the project.Under the deal, subject to conditions, Block will retain a 49% stake and operatorship during the appraisal phase of Project III while retaining 100% ownership in Projects I, II, and IV.

$BLOE.L

Equities70d ago

Beacon Energy's LNE IOM Buys More Shares in LNEnergy via Rights Offering

Beacon Energy's (BCE.L) 49%-owned LNE IOM purchased additional shares in LNEnergy through a rights offering aimed at raising 780,000 pounds sterling.LNE IOM's shareholding in LNEnergy remains at 48% due to the full participation of the latter's shareholders, according to a Tuesday release.The UK-listed renewable energy company acquired a 24% stake in LNEnergy in March.

$BCE.L

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