To substantially increase drilling activity, E&Ps in the Midcon and Rockies need to see a healthy increase in oil and natural gas prices, according to the third-quarter Kansas City Fed Energy Survey.
Powder River Basin E&P Peak Resources expects to raise more than $57 million in net proceeds and follows a number of companies that have gone public or intend to test the public markets.
With just half as many public E&Ps around today as there were in 2017, Kimmeridge and Managing Partner Ben Dell think the E&P space still has—and needs—plenty more M&A.
After a whirlwind run of upstream consolidation, experts anticipated a wave of portfolio rationalization and divestitures. But with high-quality drilling locations already scarce, E&Ps may cling to operated inventory.
The U.S. Energy Information Administration reduced its forecasts for WTI oil prices and Lower 48 oil production growth in its latest Short-Term Energy Outlook report.
Even with lower commodity prices, producers have maintained healthy shareholder returns through dividends and buybacks thanks to M&A, drilling efficiencies and capital discipline.
Chevron Corp., waiting to close a $55 billion takeover of Hess Corp., is selling off non-core assets in Canada and Alaska.
The market for new E&P and energy IPOs has been tepid since the COVID-19 pandemic. But investor appetite is growing for new small- and mid-sized energy IPOs, says Citigroup Managing Director Dylan Tornay.
Prairie Operating closed an acquisition of acreage and production in Weld County, Colorado, where the D-J Basin player is drilling its first Niobrara horizontals.
Federal regulators signed off on a blockbuster tie-up between Chevron and Hess Corp. but banned CEO John Hess from sitting on the Chevron board.
