What’s going on in West Texas? The M&A market is heating up while our team is in Calgary covering the 24th World Petroleum Congress with Hart Energy LIVE, and this is your A&D Minute powered by BOK Financial Securities.
Vital Energy is spending over $1.1 billion to extend its drilling runway in the Permian Basin, agreeing to acquire three private E&Ps with assets in the Midland and Delaware basins, and bulking up on drilling inventory that analysts say was sorely needed.
Kimbell Royalty Partners is also growing in the Permian, adding royalty interests in the Delaware and Midland basins as well as in the Midcontinent in a $455 million cash deal. The acreage offers exposure to major operators like EOG, Occidental, ConocoPhillips and Pioneer Natural Resources.
And here in Canada, Murphy Oil closed on sales of non-operated assets in the Kaybob Duvernay and Montney plays, and plans to take proceeds from the Canadian sales and put the money to work on new developments in Vietnam and the Ivory Coast.
That’s your A&D Minute powered by BOK Financial Securities with Hart Energy LIVE at the 24th World Petroleum Congress. Watch new episodes every Wednesday with our A&D Watch newsletter. Sign up at hartenergy.com/deals.
Recommended Reading
Kimmeridge’s Dell: Every US Basin Contains Both High-quality Inventory, Risk
2024-10-05 - Inventory management is a problem for the E&P space, no matter the basin, said Kimmeridge Energy Management's Ben Dell at Hart Energy's Energy Capital Conference in Dallas.
Utica Oil E&P Infinity Natural Resources Latest to File for IPO
2024-10-04 - Utica Shale E&P Infinity Natural Resources has not yet set a price or disclosed the number of shares it intends to offer.
Private Equity Gears Up for Big Opportunities
2024-10-04 - The private equity sector is having a moment in the upstream space.
Venezuela Lost Citgo, But the Battle’s Not Over Yet
2024-10-04 - Amber Energy’s $7.3 billion purchase of Citgo fell well short of analyst’s valuations. PDVSA Ad Hoc expects to appeal the decision soon in its battle to protect its claim on Citgo.
Energy Transition in Motion (Week of Oct. 4, 2024)
2024-10-04 - Here is a look at some of this week’s renewable energy news, including the startup of a solar module manufacturing facility with an annual 2-gigawatt capacity.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.