Fewer companies expect to increase oil and gas production this year as many turn to renewables for growth opportunities.
Expect E&Ps to engage in more strategic consolidation, place more emphasis on carbon markets and attempt to get ahead of the SEC’s guidance on emissions reporting.
The dust has settled on acquisitions, and the leading players have publicized five-year plans that demonstrate a commitment to increasing production from Canada’s premier shale plays.
With outside pressures expanding potential liabilities across the energy industry, producers need to understand the current royalty litigation landscape.
In 2023, majors Chevron and Exxon Mobil took four public names off the board—Pioneer Natural Resources, Denbury, PDC Energy and Hess Corp.— using all-equity takeout mechanisms with scant premiums.
The big have grown bigger and Tier 1 acreage is even pricier in America’s hottest oil basin.
Following M&A in 2023, four companies are now positioned to control about 58% of future production in the Permian Basin.
Delaware Basin E&P Battalion Oil is being acquired in a go-private transaction by a newly formed E&P Fury Resources. Could go-private sales become more common for small E&Ps with limited runway in the public markets?
Megadeals between Chevron and Hess and Exxon and Pioneer Natural Resources are under intensified scrutiny but the oil and gas firms say they will cooperate in the U.S. Federal Trade Commission’s “second request” for information.
Exxon reported more scrutiny from the FTC on Dec. 6, while Pioneer Natural Resources’ incoming CEO Rich Dealy told Hart Energy both firms will be transparent with the inquiry.