Continental Resources Inc. shares traded 15% higher to a new 52-week high after the oil and gas company announced it received a non-binding buyout proposal for $70 per share in cash from the firm's largest shareholder Chairman Harold G. Hamm and the Hamm Family Trust.
"The market is pricing in very little for the new company, and given our expectations for continued strong oil prices, we believe this is a buying opportunity," noted a Research Capital Corp. report regarding Pan Orient Energy Corp.
With Europe going through a major energy crisis, Rystad Energy, a respected energy consulting group, has predicted that European gas prices could triple again. Expert Kerry Lutz reviews how Trillion Energy could be the one to fill that void.
Shares of two leading independent exploration and production companies traded higher after they reported they entered into an agreement to combine operations in what was referred to as a "merger of equals," creating a new entity with a total enterprise value of around $6.0 billion.
Shares of land-focused oil services firm NexTier Oilfield Solutions Inc. traded 27% higher after the company reported it expects Q4/21 revenues will be in the range of $500-510 million and advised that its 32-unit fracking rig fleet will be fully deployed in Q1/22.