D–J Basin
Shale Plays , Private Equity , Acquisitions & Divestitures
PE-backed Ellipsis Acquires Interests in Permian, Other US Basins
Ellipsis U.S. Onshore, backed by private equity firm Westlawn Group, bolted on more assets in the Permian Basin and expanded its reach into Colorado and Louisiana.
Shale Plays , Mergers , Exploration & Production
Shale Outlook: Scarce Inventory to Drive Upstream M&A in ‘24
Permian Basin well productivity has trended down. Top-tier drilling locations are scarce. Capital is at a premium. E&Ps need low-cost inventory and scale, and they’re willing to pay big bucks to get them.
Acquisitions & Divestitures , Shale Plays
Analysts: Will Occidental Sell in GoM, Rockies After $12B Permian Deal?
As Occidental spends $12 billion to add scale in the Midland Basin, analysts wonder if the E&P will divest assets in the Gulf of Mexico, the Rockies or other parts of its portfolio.
Business , Shale Plays
Chevron Plans $6.5 Billion US Shale Capex, Permian Growth in ‘24
California major Chevron Corp. is setting aside $6.5 billion to develop its U.S. shale portfolio next year, with the bulk of the spend allocated in the Permian Basin.
Earnings , Acquisitions & Divestitures , International
Chevron CEO: Upstream Returns to be ‘Structurally Higher’ than Downstream
Chevron’s $53 billion acquisition of Hess Corp. will concentrate the California major even further in upstream oil and gas production—the part of its portfolio where Chevron sees the most future upside.
Acquisitions & Divestitures
Which Assets Will Chevron Shop After $53B Hess Deal?
Chevron is entering the Bakken Shale play in a big way through its $53 billion acquisition of Hess Corp. After closing, will the supermajor be in North Dakota to stay?
Acquisitions & Divestitures , Shale Plays , Crude Oil , CCS/CCUS
Silencing the Doubters: Occidental CEO Vicki Hollub Lauded for Anadarko Deal
Four years after acquiring Anadarko Petroleum, Occidental CEO Vicki Hollub has proved her critics wrong, and she credits the deal with carrying the company through the depths of the pandemic.
Acquisitions & Divestitures , Finance
Civitas Resources $1B Senior Notes Offering to Fund Vencer Acquisition
The unsecured notes offering will finance Civitas Resources’ Vencer Energy acquisition, another funding step in the company’s multibillion dollar expansion into the Permian Basin.
Acquisitions & Divestitures , Mergers
A&D Minute: Making Sense of M&A Scramble [WATCH]
In this week's A&D Minute, East Daley Analytics' Justin Carlson answers the question of what drives deals across the shale patch and where those deals get inked.
Rig Counts , Crude Oil
$70, $80, $90? No Matter WTI Price, Production to Creep Along
As public E&Ps hold fast with capital discipline, even exuberant prices might not be enough to substantially bump up production, although private operators remain a wild card, analysts said.