Devon, Diamondback Energy Power Past Estimates on Oil Price Surge
Both U.S. shale producers sweetened the pot for investors by announcing higher returns, with Devon Energy raising its quarterly dividend to $1.55 from $1.27 and Diamondback Energy hiking share repurchases by $2 billion to $4 billion.
Marketed: KONA Oil & Gas Nonoperated Multibasin Opportunity
KONA Oil & Gas Properties retained Detring Energy Advisors for the sale of nonoperated oil and gas interests concentrated in top resource plays throughout the Lower 48 including the Delaware Basin, SCOOP/STACK and Williston Basin.
Continental’s Solid Q2 Overshadowed by Harold Hamm’s Take-private Offer
An analyst said Harold Hamm’s $4.1 billion offer to Continental Resources private remains the “elephant in the room” for the company.
Hess Eyes Higher Output, Dividends, Stock Repurchases
Hess looks to further boost its production in the Bakken shale play and offshore Guyana in the second half of 2022 while also increasing its dividend and share repurchases.
Energy A&D Transactions from the Week of July 27, 2022
Here’s a snapshot of recent energy deals including an agreement by Shell USA to acquire all remaining interests in Shell Midstream Partners in a $1.96 billion buyout.
On the Market Oil and Gas Quicklist (Week of July 27, 2022)
Here’s a quicklist of oil and gas assets on the market including a BLM Nevada geothermal lease sale covering roughly 232,500 acres plus an Eagle Resources Group Mississippi Lime package.
Horsepower, Sand Supply Limits Suggest Tight Frac Market
Additional horsepower capacity will come online later this year, but it may not be enough to bridge the gap to projected demand in the frac market.
Devon Closes $865 Million Cash Acquisition of RimRock Oil and Gas
Devon Energy expects the RimRock transaction to position the company’s Williston Basin assets to maintain high-margin production and strong cash flow for several years.
Energy A&D Transactions from the Week of July 20, 2022
Here’s a snapshot of recent energy deals including the acquisition by ConocoPhillips of a stake in a Texas LNG project plus a $307 million stock-for-stock deal by Houston’s VAALCO Energy.
On the Market Oil and Gas Quicklist (Week of July 20, 2022)
Here’s a quicklist of oil and gas assets on the market including an Abraxas Petroleum Delaware Basin opportunity in Pecos County, Texas, plus an Excess Energy multibasin royalty divestiture.