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Petroleum industry

Mergers and Acquisitions Activity in the Energy Sector Reveals Significant Stakeholder Interests

Strategic Insights

— 2 min read

In recent filings with the Securities and Exchange Commission (SEC), several energy companies have disclosed significant stakeholder interests, highlighting the substantial presence of major players in the industry. Notably, Enron Corporation and its affiliates have acquired substantial shares in Carrizo Oil & Gas Inc., Colorado Wyoming Reserve Co., and Costilla Energy Inc., reflecting a strategic focus on the energy sector.

Key Takeaways:

  • Enron Corporation and its affiliates reported beneficial ownership of 1,000,000 shares of Carrizo Oil & Gas Inc., equal to 9.6% of the company's outstanding shares.
  • John F. Greene, a member of Colorado Wyoming Reserve Co.'s board of directors, reported beneficial ownership of 345,303 shares, equal to 13.3% of the company's outstanding shares.
  • Robert F. Tiddens, another member of Colorado Wyoming Reserve Co.'s board of directors, reported beneficial ownership of 437,030 shares, equal to 16.8% of the company's outstanding shares.
  • Enron Corporation and its affiliates reported beneficial ownership of 4,306,442 shares of Costilla Energy Inc., equal to 24.5% of Costilla's outstanding shares.
  • Cheniere Energy Inc. registered 5,629,167 common shares to be sold from time to time by certain selling shareholders, with 2,962,500 issuable upon the exercise of outstanding warrants.
  • The registration statement filed by Cheniere Energy Inc. indicates that the company will not receive any proceeds from the sale of the shares by the selling shareholders.

Statistics:

  • Enron Corporation and its affiliates own 9.6% of Carrizo Oil & Gas Inc.'s outstanding shares, representing 1,000,000 shares.
  • John F. Greene owns 13.3% of Colorado Wyoming Reserve Co.'s outstanding shares, representing 345,303 shares.
  • Robert F. Tiddens owns 16.8% of Colorado Wyoming Reserve Co.'s outstanding shares, representing 437,030 shares.
  • Enron Corporation and its affiliates own 24.5% of Costilla Energy Inc.'s outstanding shares, representing 4,306,442 shares.
  • Cheniere Energy Inc. registered 5,629,167 common shares to be sold from time to time by certain selling shareholders, with 2,962,500 issuable upon the exercise of outstanding warrants.
  • The total value of the securities registered by Cheniere Energy Inc. is approximately $7,825,000.

Sources:

  • Registration Statement filed by Cheniere Energy Inc. on January 7, 1999 (SEC File No. 333-86030)
  • Form 13D filed by Enron Corporation et al. with respect to Carrizo Oil & Gas Inc. on November 13, 1998 (SEC File No. 0001032863-98-000063)
  • Form 13D filed by John F. Greene with respect to Colorado Wyoming Reserve Co. on November 13, 1998 (SEC File No. 0000965025-98-000009)
  • Form 13D filed by Robert F. Tiddens with respect to Colorado Wyoming Reserve Co. on November 13, 1998 (SEC File No. 0000965025-98-000010)
  • Form 13D filed by Enron Corporation et al. with respect to Costilla Energy Inc. on November 13, 1998 (SEC File No. 0001029660-98-000048)

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