After Chevron closes its $53 billion megadeal with Hess, what parts of Hess' portfolio could hit the market? This is you’re A&D Minute powered by BOK Financial Securities.
While Chevron's acquisition of Hess is mostly about the massive oil growth play offshore Guyana, the deal also includes a large Bakken Shale footprint, midstream assets and more. Will Chevron monetize Hess Midstream or Hess' natural gas assets offshore Malaysia and Thailand? This will be a space to watch as the deal comes to a close next year.
And in the hottest oil basin, Matador Resources who saw its Permian production hit record levels during the third quarter, spent around $65 million on its brick by brick acquisition strategy in the Permian, which consists of a mix of a dozen or so deals, including non-operated interests and boosting stakes and operated wells and new acreage.
Non-OP specialist Northern Oil and Gas also continued its M&A ground game in the Permian scooping up about 514 net acres and several future drilling locations during Q3. So far this year, NOG added over 1,800 net acres through 31 different transactions.
That's your A&D Minute powered by BOK Financial Securities. Watch new episodes every Wednesday with our A&D Watch newsletter. Sign up at hartenergy.com/deals.
Recommended Reading
Equinor Acquires Stake in Standard Lithium Smackover Projects
2024-05-08 - Equinor’s transaction, completed effective May 7, includes interests in Standard Lithium’s flagship South West Arkansas Project and East Texas properties.
Crescent Point Divests Non-core Saskatchewan Assets to Saturn Oil & Gas
2024-05-07 - Crescent Point Energy is divesting non-core assets to boost its portfolio for long-term sustainability and repay debt.
Permian Resources Adds More Delaware Basin Acreage
2024-05-07 - Permian Resources also reported its integration of Earthstone Energy’s assets is ahead of schedule and raised expected annual synergies from the deal.
Evolution Petroleum Sees Production Uplift from SCOOP/STACK Deals
2024-05-07 - Evolution Petroleum said the company added 300 gross undeveloped locations and more than a dozen DUCs.
Riley Exploration Permian Closes Delaware Basin Bolt-on
2024-05-08 - Riley Exploration Permian said it added 13,900 acres and up to 25 net locations in Eddy County, New Mexico.