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In 2006, the company acquired assets from Chase Oil and formed Concho Resources Inc. In 2007, the company became a public company via an initial public offering. [2] In 2008, the company acquired Henry Petroleum for $584 million. [3] In 2010, the company acquired assets in the Permian Basin from Marbob Energy Corporation for $1.65 billion. [4]
The concept started to be used by oil traders in the market in early 1990. [2] But it was in 2007 through 2009 that the oil storage trade expanded. [6] Many participants—including Wall Street giants, such as Morgan Stanley, Goldman Sachs, and Citicorp—turned sizeable profits simply by sitting on tanks of oil. [5]
Contango is a situation in which the futures price (or forward price) of a commodity is higher than the expected spot price of the contract at maturity. [1] In a contango situation, arbitrageurs or speculators are "willing to pay more [now] for a commodity [to be received] at some point in the future than the actual expected price of the ...
Targa Resources was founded on October 27, 2005, and is headquartered in Houston, Texas. [4] [5] In 2015, Targa Resources acquired Oklahoma-based Atlas Pipeline Partners LP and Atlas Energy LP. [6] In 2017, Targa acquired Outrigger Delaware Operating, LLC, Outrigger Southern Delaware Operating, LLC and Outrigger Midland Operating, LLC. [7]
In January 2013, Conoco announced that it would sell its Rocky Mountain assets to Denbury Resources for $1.05 billion. [ 30 ] In July 2016, the company agreed to sell a 35% stake in three Senegalese deepwater oil and gas exploration blocks for about $350 million to Woodside Petroleum .
In 1981, the company was founded by Chairman George Bishop. [1] [2]Margaret "Meg" Molleston, joined the company in 2006 and leads the management of GeoSouthern's assets.
EOG Resources, Inc. is an American energy company engaged in hydrocarbon exploration. It is organized in Delaware and headquartered in the Heritage Plaza building in Houston, Texas . The company is ranked 186th on the Fortune 500 [ 2 ] and 337th on the Forbes Global 2000 .
Oasis Petroleum logo. In February 2007, Oasis Petroleum was founded by Thomas B. Nusz and Taylor L. Reid and was financed by EnCap Investments. [1] In June 2007, the company acquired 175,000 net acres and 1 thousand barrels of oil equivalent (6,100 GJ) per day of production in Williston, North Dakota for $83 million.