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Press Releases

11/10/2020 - Kaskela Law LLC Announces Shareholder Investigation of Devon Energy Corp. (DVN) Following Merger Agreement
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Kaskela Law LLC Announces Shareholder Investigation of Devon Energy Corp. (DVN) Following Merger Agreement
Source: PR Newswire
PHILADELPHIA, Nov. 9, 2020 /PRNewswire/ -- Kaskela Law LLC announces that is investigating Devon Energy Corp. ("Devon" or the "Company") (NYSE: DVN) on behalf of the Company's shareholders. 
On September 28, 2020, Devon announced that it had entered into an agreement to combine with WPX Energy, Inc. ("WPX").  In connection with the proposed business combination, Devon plans to issue approximately 290 million shares of common stock to WPX's shareholders, who are expected to own 43% of the combined company upon completion of the transaction.
The investigation seeks to determine whether Devon's executive officers and directors violated the securities laws and/or breached their fiduciary duties in connection with the proposed transaction, and whether the transaction as structured is fair to Devon's shareholders.
Devon shareholders are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq.) at (484) 258 – 1585, or online at http://kaskelalaw.com/case/devon-energy-corp/, for additional information about this investigation and their legal rights and options.
Kaskela Law LLC exclusively represents investors in securities fraud, corporate governance, and merger & acquisition litigation.  For additional information about Kaskela Law LLC please visit www.kaskelalaw.com. 
CONTACT:
D. Seamus Kaskela, Esq.
KASKELA LAW LLC
18 Campus Boulevard, Suite 100
Newtown Square, PA 19073
(484) 258 – 1585
(888) 715 – 1740
skaskela@kaskelalaw.com 
www.kaskelalaw.com
This notice may constitute attorney advertising in certain jurisdictions.
 
View original content:http://www.prnewswire.com/news-releases/kaskela-law-llc-announces-shareholder-investigation-of-devon-energy-corp-dvn-following-merger-agreement-301169228.html
SOURCE Kaskela Law LLC

Article Date
11/10/2020
Close
6/22/2018 - Swank Capital and Cushing® Asset Management Announce Rebalancing of The Cushing® Energy Index
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Swank Capital and Cushing® Asset Management Announce Rebalancing of The Cushing® Energy Index
Source: PR Newswire
Orignial Article: https://www.prnewswire.co...
DALLAS, June 22, 2018 /PRNewswire/ -- Swank Capital, LLC, and Cushing^® Asset Management, LP, announce today the upcoming rebalancing of The Cushing^® Energy Index (the "Index") as part of normal index operations. After the markets close on June 29, 2018, the constituents of the Index will be rebalanced, and the following changes will become effective on July 2, 2018:
Cushing^® Energy Index constituents, effective July 2, 2018:
Company Name	Ticker	Index Weight	Status
The Williams Companies, Inc.	WMB	6.00%	Existing
Kinder Morgan, Inc.	KMI	5.83%	Existing
ONEOK, Inc.	OKE	5.78%	Existing
Helmerich & Payne, Inc.	HP	5.60%	Existing
Exxon Mobil Corporation	XOM	5.19%	Existing
Occidental Petroleum Corporation	OXY	4.71%	Existing
Chevron Corporation	CVX	4.56%	Existing
Schlumberger N.V. (Schlumberger Limited)	SLB	3.89%	Existing
Phillips 66	PSX	3.56%	Existing
Valero Energy Corporation	VLO	3.52%	Existing
Marathon Petroleum Corporation	MPC	3.18%	Existing
Apache Corporation	APA	2.79%	Existing
Baker Hughes, A GE Company	BHGE	2.77%	Existing
HollyFrontier Corporation	HFC	2.25%	NEW
Andeavor	ANDV	2.19%	Existing
ConocoPhillips	COP	2.15%	Existing
TechnicFMC plc	FTI	2.12%	Existing
Hess Corporation	HES	2.04%	Existing
Halliburton Company	HAL	2.01%	Existing
Alliance Resource Partners, L.P.	ARLP	2.00%	Existing
EnLink Midstream Partners, LP	ENLK	2.00%	Existing
Dominion Energy Midstream Partners, LP	DM	2.00%	Existing
Andeavor Logistics LP	ANDX	2.00%	Existing
DCP Midstream, LP	DCP	2.00%	Existing
Western Gas Partners, L.P.	WES	2.00%	Existing
Crestwood Equity Partners LP	CEQP	2.00%	Existing
EQT Midstream Partners, LP	EQM	2.00%	Existing
Enable Midstream Partners, LP	ENBL	2.00%	Existing
Energy Transfer Equity, L.P.	ETE	2.00%	Existing
MPLX LP	MPLX	2.00%	NEW
Energy Transfer Partners, L.P.	ETP	2.00%	Existing
Anadarko Petroleum Corporation	APC	1.82%	Existing
Noble Energy, Inc.	NBL	1.57%	Existing
Cabot Oil & Gas Corporation	COG	1.26%	Existing
Marathon Oil Corporation	MRO	1.21%	Existing
Constituents removed, effective July 2, 2018:
Company Name	Ticker
Devon Energy Corporation	DVN
AmeriGas Partners, L.P.	APU
ABOUT THE CUSHING^® ENERGY INDEX
The Cushing^® Energy Index tracks the performance of widely held companies engaged in exploration and production, refining and marketing, and storage and transportation of oil, natural gas, coal and consumable fuels, as well as oil and natural gas equipment and services companies. Constituents of the Index are weighted based on current yield. The Index price level is calculated by S&P Dow Jones Indices and reported on a real-time basis under the Bloomberg ticker "CENI".
ABOUT SWANK CAPITAL AND CUSHING^® ASSET MANAGEMENT
Cushing^® Asset Management, LP ("Cushing"), a subsidiary of Swank Capital, LLC, is an SEC-registered investment adviser headquartered in Dallas, Texas. Cushing serves as investment adviser to affiliated funds and managed accounts which invest primarily in securities of MLPs and other natural resource companies.
Cushing is also dedicated to serving the needs of investors by sponsoring a variety of benchmarks, including The Cushing^® 30 MLP Index (Bloomberg Ticker: MLPX), The Cushing^® 30 MLP Market Cap Index (Bloomberg Ticker: CMCI), The Cushing^® MLP High Income Index (Bloomberg Ticker: MLPY), The Cushing^® Energy Supply Chain Index (Bloomberg Ticker: CSCI), The Cushing^® Transportation Index (Bloomberg Ticker: CTRI) and The Cushing^® Utility Index (Bloomberg Ticker: CUTI). For more information, please visit http://www.cushingasset.com/indices.
Contact:
Judson Redmond
214-692-6334
www.cushingasset.com
The Cushing^® Energy Index (the "Index") is the exclusive property of Swank Capital, LLC, and Cushing Asset Management, LP, which have contracted with S&P Opco, LLC (a subsidiary of S&P Dow Jones Indices LLC) ("S&P Dow Jones Indices") to calculate and maintain the Index.  S&P^® is a registered trademark of Standard & Poor's Financial Services LLC ("SPFS"); Dow Jones^® is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones"); and, these trademarks have been licensed to S&P Dow Jones Indices. "Calculated by S&P Dow Jones Indices" and its related stylized mark(s) have been licensed for use by Cushing Asset Management, LP. Neither S&P Dow Jones Indices, SPFS, Dow Jones nor any of their affiliates sponsor and promote the Index and none shall be liable for any errors or omissions in calculating the Index.
CUSH-CENI
 
View original content:http://www.prnewswire.com/news-releases/swank-capital-and-cushing-asset-management-announce-rebalancing-of-the-cushing-energy-index-300670572.html
SOURCE Cushing Asset Management, LP; Swank Capital, LLC

Article Date
6/22/2018
Close
8/4/2017 - Lilis Energy Names James Linville Chief Executive Officer
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Lilis Energy Names James Linville Chief Executive Officer
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
SAN ANTONIO, Aug. 4, 2017 /PRNewswire/ -- Lilis Energy, Inc. (NYSE American: LLEX), an exploration and development company operating in the Permian Basin of West Texas, today announced that its recently named President, James Linville, has been named Chief Executive Officer. Mr. Linville, a petroleum engineer by background, has led and managed oil and gas development projects in the majority of the major unconventional U.S. basins, including in the Delaware and Midland basins of the Permian,  for companies including U.S. Energy Development Corporation, American Energy Partners, and Devon Energy (NYSE: DVN) throughout his 30-year career. Amongst his key career accomplishments are evaluating over $12 billion of acquisitions, with over $5 billion completed; co-managing approximately $850 million multi-rig horizontal development programs, and overseeing drilling of over 500 wells.
Abraham (Avi) Mirman has resigned from his posts as Chief Executive Officer and Director of the Company, effective immediately. Mr. Mirman commented: "I will miss the Lilis family dearly. I want to thank all stakeholders who believed in me and believed in the vision I set forth for the company. I sincerely hope that I have made you proud through what has been accomplished. It is with a heavy heart that I am leaving the company, but the interests of the company and its shareholders are, and have always been, my main priority."
"The Board is extremely grateful for Avi's years of dedication and leadership at Lilis. Avi has led an incredible transformation of Lilis into a leading Delaware Basin growth company. We sincerely thank him for his service," said Ronald D. Ormand, Executive Chairman of the Board. "The Board is enthusiastic about Jim Linville stepping into his new role as Chief Executive Officer. Jim's impressive track record in oil and gas and substantial operational expertise will be a significant asset to the company."
Mr. Linville commented: "I'd like to thank Avi, as well. The team that he assembled is tremendous, and among the most talented and dedicated I've had the pleasure to work with. We are well capitalized and our assets in the core of the Delaware Basin are consistently delivering strong well results. We are also actively reviewing acreage opportunities to continue to grow our leasehold."
About Lilis Energy, Inc.
Lilis Energy, Inc. is a San Antonio-based independent oil and gas exploration and production company that operates in the Permian's Delaware Basin, considered amongst the leading resource plays in North America. Lilis's total net acreage in the Permian Basin is approximately 10,000 acres. Lilis Energy's near-term E&P focus is to grow current reserves and production and pursue strategic acquisitions in its core areas. For more information, please visit www.lilisenergy.com.
Forward-Looking Statements: 
This press release contains forward-looking statements within the meaning of the federal securities laws. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. These risks include, but are not limited to the ability to finance our continued exploration, drilling operations and working capital needs, all the other uncertainties, costs and risks involved in exploration and development activities; and the other risks identified in the Company's Annual Report on Form 10-K and its other filings with the Securities and Exchange Commission (the "SEC"). Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. The forward-looking statements in this press release are made as of the date hereof, and the Company does not undertake any obligation to update the forward-looking statements as a result of new information, future events or otherwise.
 
View original content:http://www.prnewswire.com/news-releases/lilis-energy-names-james-linville-chief-executive-officer-300499693.html
SOURCE Lilis Energy, Inc.

Article Date
8/4/2017
Close
6/26/2017 - Lilis Energy Names James Linville President
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Lilis Energy Names James Linville President
Source: PR Newswire
SAN ANTONIO, June 26, 2017 /PRNewswire/ -- Lilis Energy, Inc. (NYSE MKT: LLEX), an exploration and development company operating in the Permian Basin of West Texas, today announced that James Linville has joined the company as its new President, effective today. He will report directly to the Chief Executive Officer, Avi Mirman.
Throughout his 30-year career, Mr. Linville, a petroleum engineer by background, has led and managed oil and gas development projects in the majority of the major unconventional U.S. basins for companies including U.S. Energy Development Corporation, American Energy Partners, and Devon Energy (NYSE:DVN). Amongst his key career accomplishments are evaluating over $12 billion of acquisitions, with over $5 billion completed; co-managing approximately $850 million multi-rig horizontal development programs, and overseeing drilling of over 500 wells.
"Lilis is one of the top performing and highest-growth upstream energy companies in 2017. To help achieve our goal of continued growth, we are continuing to expand our core management team to selectively add talented executives with experience in high growth companies. With over three decades of experience, Jim is the right man for the job. Not only has he built an impressive track record of oil and gas operational excellence, most recently in the Delaware and Midland basins of the Permian, but he also has substantial experience with growing companies through acquisitions and strategic divestitures," said Mr. Mirman. "The weakening commodity climate, coupled with our strong financial position, provides an exceptional timing opportunity for us to continue to expand our position in the Permian and strengthen our foundation."
Prior to joining Lilis, Mr. Linville was Senior Director, Operations and Development for U.S. Energy Development Corporation, where he also served as a member of the Capital Committee tasked with deploying up to $200 million annually, primarily within the Delaware Basin and Eagle Ford. Previously, he served as Director-Acquisitions for American Energy Partners and subsequently as Director-Operations, for American Energy Partners' Permian Basin affiliate. During his tenure, Mr. Linville was responsible for assembling and leading the technical team that screened over 400 acquisition opportunities. Two of Mr. Linville's key evaluations resulted in the successful creation of $4.25 billion in Permian and Marcellus platform companies for American Energy Partners.
"I am very excited to join Lilis Energy and look forward to working with the management and technical teams to help take the Company to the next level. Lilis has first-class assets in the core of the Delaware Basin, and is well capitalized and positioned to benefit from opportunities caused by weak market conditions. I am confident that we will continue to maximize shareholder value through a disciplined growth and development strategy," said Mr. Linville.
Mr. Linville's career includes serving in various engineering and leadership roles at Devon Energy from January 2001 to January 2014. From 2007-2014, Mr. Linville was Devon's Operations Manager-Rockies, where he managed a $300 million capital budget with 50 horizontal wells drilled per year; oversaw 2,700 producing wells, and supervised 200 employees. Prior positions with Devon included serving as Supervisor-Business Process Transformation Team, an 18-month special project; Senior Reservoir Engineering Advisor-Permian New Mexico, and Senior Operations Engineer-Permian New Mexico. Mr. Linville's background also includes serving as New Zealand Drilling Manager and Senior District Petroleum Engineer-Appalachian Basin for Eastern American Energy & Westech International; Senior Production Operations Engineer for Consolidated Oil and Gas; Petroleum Engineer: Permian, Rockies, Midcontinent & Gulf Coast for Hallwood Petroleum, and Drilling Engineer and Rig Supervisor for UNOCAL.
Mr. Linville earned a Bachelor of Science in Petroleum Engineering from New Mexico Tech, and a Master of Environmental Management from Marshall University. He is a member of the Petroleum Advisory Board of New Mexico Tech, and has previously served as a board member, section chairman, and regional meeting chairman of the Society of Petroleum Engineers. Mr. Linville is a registered professional engineer with the State of Colorado.
About Lilis Energy, Inc.
Lilis Energy, Inc. is a San Antonio-based oil and gas exploration and production company that operates in the Permian's Delaware Basin, considered among the leading resource plays in North America. Lilis's total net acreage in the Permian Basin is over 10,000 acres. Lilis Energy's focus is to grow current reserves and production and pursue strategic acquisitions in the Delaware Basin. For more information, please visit www.lilisenergy.com.
Forward-Looking Statements:
This press release contains forward-looking statements within the meaning of the federal securities laws. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. These risks include, but are not limited to the ability to finance our continued exploration, drilling operations and working capital needs, all the other uncertainties, costs and risks involved in exploration and development activities; and the other risks identified in the Company's Annual Report on Form 10-K and its other filings with the Securities and Exchange Commission (the "SEC"). Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. The forward-looking statements in this press release are made as of the date hereof, and the Company does not undertake any obligation to update the forward-looking statements as a result of new information, future events or otherwise.
SOURCE Lilis Energy, Inc.

Article Date
6/26/2017
Close
7/1/2016 - White Star Petroleum, LLC Closes On Acquisition Of Mississippi Lime And Woodford Shale Assets; Announces Completion Of  Recapitalization Initiatives And Key Executive Appointments
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White Star Petroleum, LLC Closes On Acquisition Of Mississippi Lime And Woodford Shale Assets; Announces Completion Of  Recapitalization Initiatives And Key Executive Appointments
Source: PR Newswire
OKLAHOMA CITY, July 1, 2016 /PRNewswire/ -- White Star Petroleum, LLC ("White Star") today announced that it has completed the previously announced acquisition of Mississippi Lime and Woodford Shale assets (the "Acquisition") from Devon Energy Corporation (NYSE: DVN) for $200 million net of customary closing adjustments. The acquired assets include approximately 210,000 net acres in Central Northern Oklahoma, primarily located in Payne, Lincoln, Logan and Garfield Counties in Oklahoma, with most of the position held by production. 
In conjunction with the Acquisition, White Star entered into a senior secured, reserves-based revolving credit facility (the "Amended and Restated Syndicated Facility") to amend and restate its existing credit facility.  The Amended and Restated Syndicated Facility has a term of four years with initial commitments of $210 million. MUFG Union Bank N.A. and Capital One Securities, Inc. served as joint lead arrangers for the Amended and Restated Syndicated Facility and MUFG Union Bank, N.A. is acting as Administrative Agent.  Concurrently with the Acquisition, White Star also extinguished substantially all of its 12.00% Second Lien Notes due 2020 (the "Second Lien Notes") through privately negotiated repurchases or exchanges for equity in White Star Petroleum Holdings, LLC ("Holdings"), White Star's parent company.  Borrowings under the Amended and Restated Syndicated Facility together with proceeds from new equity financing led by The Energy & Minerals Group ("EMG") were used to fund the Acquisition and the repurchases of Second Lien Notes. 
"The closing of today's transactions represents a significant milestone for White Star and has transformed the company, positioning it for growth and continued value creation," Elliot J. Chambers, White Star's Chief Executive Officer commented. "The acquisition of Mississippi Lime and Woodford Shale assets from Devon more than doubles White Star's production, cash flow and acreage footprint. Our recapitalization initiatives reflect EMG's ongoing support for White Star and have significantly improved our leverage and liquidity profile."
As part of its ongoing strategy to broaden and deepen its management team, White Star also announced the hiring of Caleb G. Morgret as Chief Financial Officer, Jeffrey J. Zanotti as Senior Vice President, General Counsel and Secretary and Richard "Ricky" D. Pollot as Chief Accounting Officer. 
Morgret, 38, joined White Star on June 6, 2016. Morgret previously worked for Chesapeake Energy Corporation for four years, most recently as Vice President and Treasurer. Prior to Chesapeake, Morgret worked in investment banking, having served in various roles with J.P. Morgan, Mizuho Corporate Bank and UniCredit Group in London, UK, Frankfurt, Germany and Vienna, Austria. He earned an MBA from Southern Methodist University in 2016 and a BBA from the University of South Carolina in 2000. Morgret is a CFA charterholder. 
Zanotti, 38, joined White Star on May 9, 2016. Zanotti previously worked for Seventy Seven Energy Inc. as Assistant General Counsel and Assistant Secretary. Prior to joining Seventy Seven Energy, Zanotti worked for Chesapeake for four years as Assistant General Counsel – Corporate & Securities and other roles of increasing responsibility.  Zanotti began his legal career in the Dallas office of Jones Day.  Zanotti earned a JD from Arizona State University in 2006 and a BA from Southern Methodist University in 2000. 
Pollot, 47, joined White Star on June 6, 2016. Pollot previously worked for Mustang Fuel Corporation for 12 years, most recently as Director of Exploration and Production Accounting. Prior to joining Mustang Fuel, Pollot worked for Ernst & Young, LLP for 13 years. Pollot earned a BBA from the University of Oklahoma in 1991 and is a certified public accountant. 
Advisors
White Star's legal advisor for the Acquisition was Porter Hedges LLP and for the recapitalization transactions was Sullivan & Cromwell LLP.
About White Star Petroleum, LLC
White Star Petroleum, LLC is an independent oil and natural gas company focused on the acquisition, development, operation and production of unconventional oil and natural gas properties located in the Mississippi Lime and Woodford Shale plays in Central Northern Oklahoma.  
Logo - http://photos.prnewswire.com/prnh/20160419/357550LOGO
SOURCE White Star Petroleum, LLC

Article Date
7/1/2016
Close
4/20/2016 - American Energy - Woodford, LLC Formalizes Name Change To White Star Petroleum, LLC With Key Executive Appointments And Announces Transformative Acquisition Of Mississippi Lime And Woodford Shale Assets From Devon Energy Corporation
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American Energy - Woodford, LLC Formalizes Name Change To White Star Petroleum, LLC With Key Executive Appointments And Announces Transformative Acquisition Of Mississippi Lime And Woodford Shale Assets From Devon Energy Corporation
Source: PR Newswire
OKLAHOMA CITY, April 20, 2016 /PRNewswire/ -- American Energy – Woodford, LLC today announced that, effective March 25, 2016, the company changed its name to White Star Petroleum, LLC ("White Star"). As originally intended and previously announced by White Star's sponsor, The Energy and Minerals Group ("EMG"), White Star will complete its transition to a standalone company, fully independent of the American Energy Partners, LP ("AELP") platform (the "Separation"), during the second quarter of 2016.  On February 26, 2016, as a critical step of the Separation, the Board of Managers appointed Elliot J. Chambers as Chief Executive Officer, in addition to his role as Chief Financial Officer, and promoted Joseph D. Craig to Chief Operating Officer from his previous role as Vice President of Operations. 
Mr. Chambers commented, "We are pleased to announce the transition of White Star to a separate, standalone company.  This separation has been a strategic objective of our business since the company was founded in 2013, and we look forward to bringing it to fruition as quickly as possible during the second quarter.  We appreciate the support and guidance that we have received from EMG, and the assistance the AELP platform has provided since our formation."
White Star also announced today it has signed a definitive agreement to purchase certain Mississippi Lime and Woodford Shale assets from Devon Energy Corporation (NYSE: DVN) for $200.0 million.  The transaction is subject to customary purchase price adjustments, terms and conditions, and is expected to close in the second quarter of 2016.  The acquired assets include approximately 210,000 largely contiguous net acres which immediately offset White Star's acreage in Central Northern Oklahoma.  The acquired acreage is primarily located in Payne, Lincoln, Logan and Garfield Counties in Oklahoma, with most of the position held by production. Net production from the acquired assets in the first quarter of 2016 averaged 12,800 barrels of oil equivalent ("BOE") per day from approximately 555 operated and non-operated Mississippi Lime and Woodford Shale horizontal wells.
"With the acquisition of Devon's Mississippi Lime and Woodford Shale assets, White Star has doubled its production and acreage footprint in Central Northern Oklahoma," Mr. Chambers continued.  "This acquisition will be significantly accretive to production, liquidity, reserves, and leverage metrics, and will allow White Star to continue to leverage our core competency in low-cost Mississippian and Woodford resource development. Furthermore, upon signing, we executed hedges covering a substantial portion of acquired PDP production, providing stability to our cash flows while preserving upside.  We are very appreciative of the continued support that our equity sponsors have shown for the business, and look forward to delivering on our disciplined operating plan and creating long-term value for all of our stakeholders."
Advisors
White Star's legal advisor for this transaction is Porter Hedges LLP.
About White Star Petroleum, LLC
White Star Petroleum, LLC, formerly American Energy – Woodford, LLC, is an independent oil and natural gas company focused on the acquisition, development, operation and production of unconventional oil and natural gas properties located in the Mississippi Lime and Woodford Shale plays in Central Northern Oklahoma.
Logo - http://photos.prnewswire.com/prnh/20160419/357550LOGO
 
SOURCE White Star Petroleum, LLC

Article Date
4/20/2016
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