A Federal Trade Commission majority opinion in May barred former Pioneer Natural Resources CEO Scott Sheffield from serving in any capacity with Exxon Mobil Corp. following its acquisition of the Permian Basin E&P.
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.
Widespread consolidation has reshaped the list of top public producers, says Enverus CEO Manuj Nikhanj.
The Permian Basin’s core is in full-scale manufacturing mode, with smaller intrepid operators pushing the basin’s boundaries further and deeper.
A Federal Trade Commission majority opinion in May barred former Pioneer Natural Resources CEO Scott Sheffield from serving in any capacity with Exxon Mobil Corp. following its acquisition of the Permian Basin E&P.
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.
Widespread consolidation has reshaped the list of top public producers, says Enverus CEO Manuj Nikhanj.
The Permian Basin’s core is in full-scale manufacturing mode, with smaller intrepid operators pushing the basin’s boundaries further and deeper.
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.
Increasing gas demand is expected to rally prices and boost midstream planning as a new Trump administration pledges to loosen permitting—setting the stage for M&A in the Appalachian Basin.
Prices, consolidation and financial firepower will push deals forward, says EY.
Despite the Uinta Basin’s recent flurry of M&A activity, Scout Energy Partners isn’t looking to sell anytime soon, said the company’s executive vice president, Juan Nevarez, at Hart Energy’s Executive Oil Conference.
Concerns on remaining inventory are a big driver of M&A activity, but improving drilling efficiencies allow for low rig counts to keep high production, says Dan Pickering, the chief investment officer of Pickering Energy Partners.
Within the first nine months of 2024, oilfield services dealmaking hit $19.7 billion—the highest since 2018, according to Deloitte.