Chevron aims to grow Permian volumes past 1 MMboe/d in 2025—less than a decade after it averaged less than 100,000 boe/d from legacy holdings in West Texas and New Mexico, Chevron CEO Mike Wirth said.
Private equity firm Quantum Capital Group closed an acquisition of Caerus Oil and Gas. Quantum is splitting Caerus’ assets in Colorado and Utah between two portfolio companies.
Civitas Resources poured billions of dollars into Permian M&A, but the company still sees room to run in its foundational portfolio in Colorado.
A younger generation more open to selling subsurface rights has increased supply for the minerals and royalties market, and Mesa Minerals III is buying up interests in the Permian and Haynesville.
Fury Resources' new offer reduces the amount of consideration payable to Battalion’s stockholders. Battalion said it was reviewing the amended terms of a merger agreement that was announced in December.
Berry Corp., which has a large footprint in California’s San Joaquin Basin, might be more excited about deals and drilling near its Uinta Basin acreage.
Tourmaline Oil is adding high-quality drilling locations in Canada’s Montney Shale with the CA$1.3 billion (US$950 million) acquisition of Crew Energy Inc.
Operators have been hard at work on ground game dealmaking from the Permian to Appalachia through the first half of the year, according to reports by Continental Resources, Antero Resources, HighPeak Energy and others.
Diamondback Energy, one of the Permian’s largest oil producers, curtailed some Permian oil output to limit associated gas production. Permian gas output is near record highs, and takeaway capacity out of the basin is bottlenecked.
Aethon Energy, already a large LNG feed-gas supplier, sees Woodside’s acquisition of Tellurian and the Driftwood LNG project as a validation of the natural gas industry’s prospects.
