Upstream M&A activity fell sharply in the third quarter as public consolidation slowed and Permian Basin targets dwindled, according to Enverus Intelligence Research.
The planned sale could fetch upwards of $500 million, two sources told Reuters. They said it was part of Exxon's efforts to focus on assets with the highest growth potential after a $60 billion takeover of rival Pioneer Natural Resources in May.
After a whirlwind run of upstream consolidation, experts anticipated a wave of portfolio rationalization and divestitures. But with high-quality drilling locations already scarce, E&Ps may cling to operated inventory.
The U.S. Energy Information Administration reduced its forecasts for WTI oil prices and Lower 48 oil production growth in its latest Short-Term Energy Outlook report.
Bryan Sheffield, managing partner of Formentera Partners and founder of Parsley Energy, discussed E&P capital, M&A barriers and how longer laterals could spur a “growth mode” at Hart Energy’s Energy Capital Conference.
Formentera Founder and Partner Bryan Sheffield delves into the company's drilling operations including the unique history of how Formentera took up assets in Australia's Beetaloo, in this Hart Energy Exclusive interview.
Canada’s Montney Shale play has already attracted U.S. companies Ovintiv, Murphy and ConocoPhillips while others, including private equity firms, continue to weigh their options.
Energy Transfer co-CEOs discuss pipeline pain points, needed M&A, regulatory woes and much more in this Midstream Business exclusive.
Devon Energy Corp. completed its $5 billion acquisition of Grayson Mill Energy, expanding its Williston Basin operating scale and production.
Legendary dealmaker Stephen Trauber keeps his eyes open for out of the box ideas: Why not a BP-Shell merger? Or Chevon and ConocoPhillips?