Producers aren't retreating in the face of softening oil and gas prices. Most surveyed North American oil and gas operators expect to be net buyers of reserves this year. The survey was of nearly 800 of the approximately 1,900 reserve purchasers listed in the Oil and Gas Finance Sourcebook. The asset buyers and sellers represent some 700 public and private E&P companies. Among them, 75% expect to be net buyers of oil and gas reserves this year, 60% expect asset prices will cost as much this year as last, and 55% expect average natural gas prices to be as good this year as last. In the lattermost results, 30% expect higher gas prices. One participant added, "We have reviewed and rejected over $90 million worth of acquisitions so far in the first quarter." The survey was conducted in early March. For more on this, see the April issue of Oil and Gas Investor. For a subscription, call 713-260-6441.
Recommended Reading
Expand Appoints Dan Turco to EVP of Marketing, Commercial
2025-02-13 - Expand Energy Corp. has appointed industry veteran Dan Turco as executive vice president of marketing and commercial.
Imperial Appoints New President, CEO Following Brad Corson’s Retirement
2025-02-13 - Imperial’s board of directors has appointed Exxon Mobil’s John Whelan as president effective April 1 and to assume the roles of chairman and CEO on May 8.
Italy's Intesa Sanpaolo Adds to List of Banks Shunning Papua LNG Project
2025-02-13 - Italy's largest banking group, Intesa Sanpaolo, is the latest in a list of banks unwilling to finance a $10 billion LNG project in Papua New Guinea being developed by France's TotalEnergies, Australia's Santos and the U.S.' Exxon Mobil.
Trump Nominates E&P Advocate Sgamma to Head Bureau of Land Management
2025-02-12 - If confirmed by the Senate, Kathleen Sgamma, president of the Western Energy Alliance, would oversee management of approximately 245 million acres of surface lands.
Chevron to Lay Off 15% to 20% of Global Workforce
2025-02-12 - At the end of 2023, Chevron employed 40,212 people across its operations. A layoff of 20% of total employees would be about 8,000 people.
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.