Whiting Petroleum Corp., an oil and gas producer with operations in North Dakota and Colorado, is in deal talks with San Antonio-based Abraxas Petroleum Corp., two people familiar with the matter told Reuters.
A deal would increase Whiting's acreage in the second-largest U.S. shale field by output and spread its overhead costs over greater production, according to one of the people, who spoke on the condition of anonymity as the talks are not yet public.
Recommended Reading
Pinnacle Midstream Execs Form Energy Spectrum-Backed Renegade
2025-02-03 - Renegade Infrastructure, led by Permian-centric Pinnacle Midstream developers Drew Ward and Jason Tanous, have received a capital commitment from Energy Spectrum Partners.
Williams Cos. COO Dunn to Retire
2025-03-13 - Williams Cos. COO Micheal Dunn was crediting with helping the company focus on a natural gas strategy.
Phillips 66’s NGL Focus, Midstream Acquisitions Pay Off in 2024
2025-02-04 - Phillips 66 reported record volumes for 2024 as it advances a wellhead-to-market strategy within its midstream business.
Phillips 66’s Brouhaha with Activist Investor Elliott Gets Testy
2025-03-05 - Mark E. Lashier, Phillips 66 chairman and CEO, said Elliott Investment Management’s proposals have devolved into a “series of attacks” after the firm proposed seven candidates for the company’s board of directors.
Chevron Makes Leadership, Organizational Changes in Bid to Simplify
2025-02-24 - Chevron Corp. is consolidating its oil, products and gas organization into two segments: upstream and downstream, midstream and chemicals.