Here’s a snapshot of recent energy deals including the closing of the $9.25 billion all-stock merger of Cabot Oil & Gas and Cimarex Energy forming Coterra plus a Midland Basin bolt-on acquisition by Earthstone Energy.
Here’s a quicklist of oil and gas assets on the market including BC Operating Delaware Basin properties plus a California Resources San Joaquin Basin opportunity and Utica Shale wells operated by Southwestern Energy.
Caliber Resource Partners retained EnergyNet for the sale of nonop interest in eight producing horizontal Utica Shale wells operated by Southwestern Energy in Ohio’s Monroe County.
The Permian and Anadarko basins had the largest weekly increases while Appalachia lost the largest number of rigs week over the past week.
Operators in the U.S. and Middle East have used this autonomous directional drilling solution to achieve greater efficiency and sustainability benefits.
Two Bone Spring wells completed by Devon Energy in a new field in the Permian Basin in New Mexico’s Lea County plus Southwestern Energy Marcellus Shale wells and a gas discovery reported in Jordan top this week’s oil and gas drilling activity highlights from around the world.
Coterra Energy, to be headquartered in Houston, was previously estimated to have an enterprise value of approximately $17 billion with a top tier asset base across the Marcellus, Permian and Anadarko shale basins.
Buyers’, investors’ and others’ growing demands for carbon-lite fuels and ESG in operations have U.S. gas producers and shippers stepping up to differentiate themselves from peers. The prize may be a higher price per Mcf for their products. Or it may simply mean continued existence.
The deal is expected to close in the fourth quarter of 2021, after which Cimarex Energy shareholders would own 50.5% of the combined entity and Cabot Oil & Gas shareholders the rest.
Here’s a quicklist of oil and gas assets on the market including Centennial Resource Development Delaware Basin assets, a Bayou Oak nonop Haynesville position plus several Continental Resources packages in the Midcontinent region.