Following Quantum Capital Group’s closed $1.8 billion acquisition of Caerus Oil and Gas, KODA Resources gained 160,000 acres on the Uinta side.
Adding new-well inventory going forward will require “exploration or other creative measures,” said Nick O’Grady, whose Northern Oil and Gas holds interests in 10,000 Lower 48 wells.
Northern Oil and Gas CEO Nick O’Grady said the Uinta Basin has stayed off the radar but a time may come when Utah’s best kept secret starts to heat up in the M&A market.
Smaller, non-publicly owned midstream companies are moving quickly for a position in a consolidation-driven market.
Liberty Energy capitalized on its “competitive edge” when navigating a challenging demand environment in third-quarter 2024, CEO Chris Wright said in the company’s quarterly earnings call.
Private E&P Hilcorp Energy will pay a $9.4 million civil penalty stemming from natural gas fracking operations in New Mexico’s San Juan Basin.
Upstream M&A activity fell sharply in the third quarter as public consolidation slowed and Permian Basin targets dwindled, according to Enverus Intelligence Research.
To substantially increase drilling activity, E&Ps in the Midcon and Rockies need to see a healthy increase in oil and natural gas prices, according to the third-quarter Kansas City Fed Energy Survey.
With just half as many public E&Ps around today as there were in 2017, Kimmeridge and Managing Partner Ben Dell think the E&P space still has—and needs—plenty more M&A.
Even with lower commodity prices, producers have maintained healthy shareholder returns through dividends and buybacks thanks to M&A, drilling efficiencies and capital discipline.