Latest news with #assetsale
Yahoo
10 hours ago
- Business
- Yahoo
ConocoPhillips nears sale of Oklahoma assets to Stone Ridge Energy, sources say
By Shariq Khan NEW YORK (Reuters) -U.S. oil and gas producer ConocoPhillips is in advanced talks to sell assets in Oklahoma to privately owned Stone Ridge Energy for around $1.3 billion, three people familiar with the matter told Reuters on Tuesday. Oklahoma City-based Flywheel Energy, a private oil and gas company backed by Stone Ridge Energy, will operate the assets on its backer's behalf, one of the sources said. The sources cautioned that no deal is guaranteed and talks could still end without an agreement. They also spoke on condition of anonymity to discuss private deliberations. ConocoPhillips declined to comment. Stone Ridge Energy, the energy-focused arm of New York-based Stone Ridge Asset Management, did not immediately respond to a request for comment. Flywheel, which also counts commodities trader Gunvor among its investors, did not immediately respond to requests for comment. Reuters reported in April that ConocoPhillips had hired investment bank Moelis & Co to manage an auction of the assets, which are comprised of operations in the Anadarko basin inherited by the energy producer as part of its $22.5 billion takeover of Marathon Oil last year. As part of the deal, Stone Ridge Energy will acquire 300,000 net acres (121,406 hectares) in the Anadarko shale formation, which produce about 39,000 barrels of oil equivalent per day, of which about half is natural gas. If completed, the asset sale would help ConocoPhillips surpass a target to raise $2 billion from divestments. Conoco set that target after it took on about $5.4 billion of Marathon's debt as part of that acquisition. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
11 hours ago
- Business
- Reuters
ConocoPhillips nears sale of Oklahoma assets to Stone Ridge Energy, sources say
NEW YORK, July 22 (Reuters) - U.S. oil and gas producer ConocoPhillips (COP.N), opens new tab is in advanced talks to sell assets in Oklahoma to privately owned Stone Ridge Energy for around $1.3 billion, three people familiar with the matter told Reuters on Tuesday. Oklahoma City-based Flywheel Energy, a private oil and gas company backed by Stone Ridge Energy, will operate the assets on its backer's behalf, one of the sources said. The sources cautioned that no deal is guaranteed and talks could still end without an agreement. They also spoke on condition of anonymity to discuss private deliberations. ConocoPhillips declined to comment. Stone Ridge Energy, the energy-focused arm of New York-based Stone Ridge Asset Management, did not immediately respond to a request for comment. Flywheel, which also counts commodities trader Gunvor among its investors, did not immediately respond to requests for comment. Reuters reported in April that ConocoPhillips had hired investment bank Moelis & Co (MC.N), opens new tab to manage an auction of the assets, which are comprised of operations in the Anadarko basin inherited by the energy producer as part of its $22.5 billion takeover of Marathon Oil last year. As part of the deal, Stone Ridge Energy will acquire 300,000 net acres (121,406 hectares) in the Anadarko shale formation, which produce about 39,000 barrels of oil equivalent per day, of which about half is natural gas. If completed, the asset sale would help ConocoPhillips surpass a target to raise $2 billion from divestments. Conoco set that target after it took on about $5.4 billion of Marathon's debt as part of that acquisition.
The Independent
5 days ago
- Business
- The Independent
BP sells onshore wind farm business in US
BP is to offload its onshore wind business in the US after agreeing a deal with a New York-based energy infrastructure firm. The FTSE 100 oil company said LS Power would buy the business, called BP Wind Energy North America, which includes 10 operating wind farms across America. BP said green energy still has a 'role to play' in the slimmed-down group as the deal marks the latest in a series of asset sales. BP did not disclose how much the sale was worth, but said it was part of its aims to offload between 3 billion and 4 billion US dollars (£2.2 billion to £3 billion) worth of assets in 2025, under a wider 20 billion dollar (£14.9 billion) confirmed that before the deal, it had already struck sales worth 1.5 billion dollars (£1.1 billion) by the end of the first quarter. William Lin, BP's executive vice-president for gas and low carbon energy, said: 'We have been clear that while low carbon energy has a role to play in a simpler, more focused BP, we will continue to rationalise and optimise our portfolio to generate value. 'The onshore US wind business has great assets and fantastic people, but we have concluded we are no longer the best owners to take it forward.'
Yahoo
30-06-2025
- Business
- Yahoo
ClearOne, Inc. Announces a Special One-time Stock Dividend
SALT LAKE CITY, June 30, 2025--(BUSINESS WIRE)--ClearOne (NASDAQ: CLRO) today announced that its Board of Directors has declared a one-time special stock dividend on the Company's issued and outstanding shares of common stock, par value $0.001 per share (the "Common Stock"), and any Common Stock equivalents with dividend rights (the "Common Stock Equivalents"), to provide its legacy stockholders with a 100% stake in the proceeds from any eventual sale of all or substantially all of the Company's current assets and operations in one or more transactions (collectively, the "Asset Sale"). This Special Stock Dividend is part of the Company's ongoing strategic process and in support of its previously disclosed plan to pursue one or more transactions, including the Asset Sale, and involves issuing to holders of Common Stock and Common Stock Equivalents one share of the Company's Class A Redeemable Preferred Stock, par value $0.001 per share (the "Class A Preferred Stock"), for every issued and outstanding share of Common Stock and Common Stock Equivalent. Upon the completion of any Asset Sale, which may occur in one or a series of transactions, the Class A Preferred Stock shall be redeemed by the Company for 100% of the net proceeds of any such Asset Sale. The Special Stock Dividend will be payable on July 18, 2025 to stockholders of record as of July 11, 2025. Because the Special Stock Dividend exceeds twenty-five percent (25%) of the value of the Common Stock, in accordance with FINRA UPC (Uniform Practice Code) Rule 11140, a stockholder of the Company that sells shares of Common Stock on or prior to the payment date of July 18, 2025 will not receive the Special Stock Dividend for the shares of Common Stock that are sold. Even though this dividend announcement is a special one-time event, the declaration of dividends in the future is subject to the discretion of the ClearOne Board of Directors, which will evaluate the possibility of future dividend distributions from time-to-time based on factors that the Board of Directors deem relevant. However, no additional dividends have been authorized nor are contemplated at this time. About ClearOne ClearOne is a global market leader enabling conferencing, collaboration, and network streaming solutions. The performance and simplicity of its advanced, comprehensive solutions offer unprecedented levels of functionality, reliability, and scalability. Visit ClearOne at This release contains "forward-looking" statements that are based on present circumstances and on ClearOne's predictions with respect to events that have not occurred, that may not occur, or that may occur with different consequences and timing than those now assumed or anticipated. Such forward-looking statements, including the expected future sales of the Company's assets, payment of dividends, redemption of the Class A Preferred Stock, and any statements of the plans and objectives of management for future operations and forecasts of future growth and value, are not guarantees of future performance or results and involve risks and uncertainties that could cause actual events or results to differ materially from the events or results described in the forward-looking statements. Such forward-looking statements are made only as of the date of this release and ClearOne assumes no obligation to update forward-looking statements to reflect subsequent events or circumstances. Readers should not place undue reliance on these forward-looking statements. View source version on Contacts Investor Relations Contact: Simon Brewer385-426-0565investor_relations@ Sign in to access your portfolio
