Apollo Global funds to invest $200M in water services for oil & gas industry

according to Funds managed by Apollo Global Management (NYSE:APO) form a partnership with Freestone Midstream Holdings to invest in water assets serving the oil and gas industry, initially focusing on the Powder River Basin in Wyoming. The Apollo funds have provided Freestone with an equity commitment of $200M in support of Freestone's business plan. Denver-based Freestone will identify and evaluate opportunities to acquire, develop, and operate water midstream and services assets serving upstream oil and gas operators. Source: Press ReleasePreviously: Arconic spikes 11% on WSJ report suggesting strong P-E interest (July 25)

Backers of Colorado oil & gas initiative claim signature gathering firm was paid off to quit

Colorado Rising must turn in at least 98,492 signatures from registered voters by Tuesday to qualify for the November ballot. Wednesday, Colorado Rising released a recording of a man they identified as Dan Fessler, owner of Petition Connection. The petitions ultimately made it to Colorado Rising, though many had errors that, if uncorrected, would disqualify them, the group said. The Initiative 97 members told him they doubted that was likely. "There have been so many allegations and misrepresentations by Colorado Rising, it's difficult to take them seriously," Crummy said in an email.

Chesapeake Energy stock falls again after earnings as oil and gas sales disappoint

referring to Excluding non-recurring items, such as a $168 million loss on oil, natural gas and natural gas liquid (NGL) derivatives, adjusted earnings per share came to 15 cents, above the average analyst estimate of 14 cents, according to FactSet. Total revenue fell to $2.255 billion from $2.281 billion, just below the FactSet consensus of $2.269 billion. Volume spiked to 49.5 million shares, already more than the full-day average of about 33.8 million shares, according to FactSet. What may have also added to investors' disappointment is how well the stock had done since the last earnings report. Photo: GettyLast week, Chesapeake said it would sell its oil and gas holdings in Ohio's Utica Shale for $2 billion, and will use the proceeds to further pay down debt.

collected by :Frank Ithan