A private seller retained RedOaks Energy Advisors for the sale of certain royalty properties in the D-J Basin.
Exxon Mobil and Chevron plan to tap West Texas and New Mexico for oil and gas production growth in 2024, the U.S. majors reported in their latest earnings.
Newly released guidelines by the Department of Justice and Federal Trade Commission suggest that a post-deal, combined market share of more than 30% is potentially problematic.
Select Water Solutions Inc. added disposal and recycling capacity in the Haynesville Shale and the Rockies across three acquisitions in January.
The Permian’s Tier 1 acreage opportunities for startup E&Ps are dwindling. Investors are beginning to look elsewhere.
Houston-based Prairie Operating Co. is scaling its D-J Basin footprint with a $94.5 million acquisition of Nickel Road Operating LLC.
Ellipsis U.S. Onshore, backed by private equity firm Westlawn Group, bolted on more assets in the Permian Basin and expanded its reach into Colorado and Louisiana.
Permian Basin well productivity has trended down. Top-tier drilling locations are scarce. Capital is at a premium. E&Ps need low-cost inventory and scale, and they’re willing to pay big bucks to get them.
Following M&A in 2023, four companies are now positioned to control about 58% of future production in the Permian Basin.
As Occidental spends $12 billion to add scale in the Midland Basin, analysts wonder if the E&P will divest assets in the Gulf of Mexico, the Rockies or other parts of its portfolio.