A younger generation more open to selling subsurface rights has increased supply for the minerals and royalties market, and Mesa Minerals III is buying up interests in the Permian and Haynesville.
Drill-to-earn arrangements have been utilized in the Permian for years in the forms of joint ventures, farm-outs and other customizable agreements.
Enverus’ minerals expert Phil Dunning pulls back the curtain on generational changes and seismic shifts in the U.S. minerals market that make it challenging to for aggregators to achieve scale.
Operators have been hard at work on ground game dealmaking from the Permian to Appalachia through the first half of the year, according to reports by Continental Resources, Antero Resources, HighPeak Energy and others.
Coterra Energy took an against-the-grain stance on consolidation long before merger mania hit the U.S. E&P space, and it’s paying—to its shareholders—meaningful dividends.
Halliburton said a softer North American market was affected by E&Ps integrating assets from recent M&A as the company continues to see international markets boosting the company’s bottom line.
ConocoPhillips didn’t show up until April 25, while two other unidentified public E&Ps were bidding for Marathon, according to a filing with the Securities & Exchange Commission.
Gas-weighted assets’ M&A values have declined with gas futures since 2022, according to J.P. Morgan Securities analysis.
When other E&Ps were packing up and exiting Oklahoma, Mach Natural Resources went all-in on the Midcontinent. Now Mach CEO Tom Ward says the company is exploring M&A options in other basins as competition and prices creep back up.
What role do firms controlled by descendants of the original Permian Basin wildcatters play in a sector increasingly dominated by scale?