It’s All Relative: Family Oil Companies Attract Huge M&A Attention
What role do firms controlled by descendants of the original Permian Basin wildcatters play in a sector increasingly dominated by scale?
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Chris Mathews joined Hart Energy as Senior Reporter of Shale and A&D in February 2023. He covers the North American upstream shale energy industry and the acquisition and divestiture deal markets. Before joining Hart, Mathews spent over four years with the Houston Business Journal, most recently as Energy Reporter. He began his reporting career with HBJ covering Houston’s finance and technology sectors. Mathews graduated from the University of Missouri School of Journalism with a bachelor’s degree in 2016. He was born and raised in San Antonio, Texas.
What role do firms controlled by descendants of the original Permian Basin wildcatters play in a sector increasingly dominated by scale?
Shares for SM Energy were trading down after announcing a multibillion-dollar entry into Utah’s Uinta Basin, an unusual move that nonetheless adds scale to the company’s Eagle Ford Shale and Permian Basin operations.
After a historic run of E&P consolidation, oilfield services and equipment providers in the Permian are competing to woo a dwindling number of upstream customers, according to the second-quarter Dallas Fed Energy Survey.
TXO Partners, an upstream MLP founded by XTO Energy executive Bob Simpson, is acquiring assets in the Williston Basin—a region the XTO team knew quite well.
Fort Worth, Texas-based U.S. Energy Development Corp. continues to add to its operated footprint in the Permian’s Delaware Basin.
Japanese firm Mitsui & Co. is adding to its shale gas footprint in Texas through M&A, the Tokyo-based company announced June 24.
While U.S. E&Ps squabble for pieces of the Permian Basin, international energy giants are all-in on the Eagle Ford Shale in South Texas.
U.S. gas producers continue to wade through low commodity prices, a situation made even stickier by record Permian gas production, said Chesapeake COO Josh Viets. But with a “constructive” natural gas market on the horizon, producers are consolidating and exploring for drilling runway.
Refracs and other redevelopment projects might not be needle-moving growth drivers—but they’re becoming more common for E&Ps levered in maturing plays like the Eagle Ford and Bakken, experts discussed at URTeC 2024.
The past decade has been difficult for the San Juan Basin, which suffered from a lack of activity and exits by major operators. But experts say inventory-hungry operators shouldn’t overlook the San Juan’s long-term potential.
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