Enverus: M&A Set to Cool with Smaller Deals, Higher Breakevens
With fewer acquisition targets, Enverus Intelligence Research said the quality of acquired inventory is declining, with breakevens averaging $50/bbl in 2024 versus $45/bbl in 2022 and 2023.
Kinder Morgan Acquires Bakken NatGas G&P in $640MM Deal
The $640 million deal increases Kinder Morgan subsidiary Hiland Partners Holdings’ market access to North Dakota supply.
On The Market This Week (Jan. 6, 2025)
Here is a roundup of listings marketed by select E&Ps during the week of Jan. 6.
Shale Outlook: E&Ps Making More U-Turn Laterals, Problem-Free
Of the more than 70 horseshoe wells drilled to date, half came in the first nine months of 2024 as operators found 2-mile, single-section laterals more economic than a pair of 1-mile straight holes.
PRB’s Sage Butte Ready for M&A Across Lower 48, Maybe Canada Too
Private E&P Sage Butte Energy, which operates in the Powder River Basin, is less interested in the Permian Basin, citing the cost of entry.
Analysis: Middle Three Forks Bench Holds Vast Untapped Oil Potential
Williston Basin operators have mostly landed laterals in the shallower upper Three Forks bench. But the deeper middle Three Forks contains hundreds of millions of barrels of oil yet to be recovered, North Dakota state researchers report.
Delek Closes $285MM Buyout of Permian’s Gravity Water Midstream
Delek Logistics continues to focus on bolstering its Permian Basin infrastructure holdings with the acquisition of Gravity Water Midstream.
Vitesse Energy to Buy Bakken Pureplay Lucero in $220MM Deal
Vitesse Energy will acquire Lucero Energy’s Bakken/Three Forks assets, including 25 net remaining locations, 1.9 net DUCs and 20 wells that are candidates for recompletions.
Marketed: Hess 3-Well Package in Bakken Shale
Hess Corp. has retained EnergyNet for the sale of a three-well Bakken Shale package in Mountrail and Ward counties, North Dakota.
Nabors, ProPetro Plan to Deliver High Voltage to Drillers
Nabors Industries, in partnership with e2Companies, and, separately, ProPetro Holding Corp., both launched oilfield electrification solutions on Dec. 10.