The Midland Basin depleted its inventory of excess DUCs the most last year, falling from two months of runway to one during the past year, according to a report by Enverus Intelligence Research.
Nabors Industries’ blank check company will merge with e2Companies at a time when oilfield service companies are increasingly seeking on-site power solutions for E&Ps in the oil patch.
Activist investor Elliott Capital Management disclosed Feb. 11 it has built a $2.5 billion position in Phillips 66 and issued a series of initiatives, including the sale or spinning off of the company’s midstream assets.
Prairie Operating Co. will purchase about 24,000 net acres from Bayswater Exploration & Production, which will still retain assets in Colorado and continue development of its northern Midland Basin assets.
Following its $22.5 billion deal to buy Marathon Oil, ConocoPhillips is targeting $2 billion in asset sales— a goal a company executive said would largely be achieved this year.
ONEOK Inc. and MPLX have entered into agreements to invest $1.4 billion to build a 400,000 bbl/d LPG export terminal in Texas and a $350 million pipeline project.
Viper Energy said that in addition to a $4.45 billion dropdown by Diamondback Energy, the company would also purchase royalty acreage in Howard County, Texas, for $330 million.
Hess Corp. “continues to make the most of its independent status,” delivering earnings driven by higher crude production and lower operating costs, an analyst said.
Upstream M&A hit a high of $105 billion in 2024 even as deal values declined in the fourth quarter with just $9.6 billion in announced transactions.
In the Haynesville, Delaware and Utica, Post Oak Energy Capital is supporting companies determined to make a profitable footprint.
