Oil and Gas Investor Magazine - October 2015
Cover Story
Oil In The New World Order
Rebalancing of supply and demand is underway, but the inflection point keeps shifting to the right.
Feature
A Conundrum For Energy Lenders
When the Feds turned a critical eye to energy lender portfolios this summer, they risked limiting banks’ options to help troubled clients.
Appalachian Basin: Robust And Viable
Conservative exploration and production strategies are being emphasized in order to better position operators in the depressed price environment and become well positioned for a price recovery.
Central Anadarko Upswing
As other major basins contract, operators in the Woodford, Scoop and Stack plays are finding the economics inviting.
Giving Thanks For Fossil Fuels
This pro-industry advocate says we owe the energy industry an apology—and the freedom to keep innovating.
Good Intentions, Bad Returns
University endowments are facing increasing pressure to divest fossil fuel investments. But should they? And what’s the potential effect on the E&P industry?
Oil Wilts, Gas Sparks
At the recent A&D Strategies & Opportunities Conference, deal flow was described as “brutal.” But quality natural gas assets have attracted the attention of LNG suppliers.
A&D Trends
Falling Metrics
Only 10 asset deals—valued at $1.74 billion—were transacted in first-quarter 2015. Bid-ask gap between sellers and buyers is very wide, with deals unwinding, being re-traded or being shelved.
At Closing
A Good Day For Goodrich
With $44 million market cap and close to $600 million in debt heading into summer—and no more JV partners—Goodrich began taking measures to shore up its financial situation.
Bright Spots
Meet Jody Crook
He has worked at Enron, Southwestern Energy and Jones Energy in a number of different roles including land, operations, business development and A&D. He is a fourth-generation oilman.
Completions
Unlocking The Golden Handcuffs
“We had trouble competing because we were not willing to buy in to and underwrite deals based on what we viewed to be substantial price upside on the oil side,” said Scott R. Smetko, director, in a webcast at EnerCom’s The Oil & Gas Conference.
E&P Momentum
Rethinking Refracks
In the Barnett Shale, the industry has a long history of reentering old vertical wells that were fracture-stimulated with crosslink gels and re-fracking the wells using slickwater.
From the Editor-in-Chief
Looking Up?
Overall U.S. production is down only slightly, a nudge that just a few good new wells could offset, not to mention the thousands of drilled but uncompleted wells.
Legends
Chatting With Bruce Vincent
In February, Bruce H. Vincent retired as president and board member of Houston-based Swift Energy Co., where he worked for 25 years. Vincent was a co-founder of NAPE and OGIS.
On the Money
A Multiyear Capex Crunch?
But global upstream capex never declined for two consecutive years over this period—a trend that looks all but certain to be broken amid the current plunge in commodity prices.