Permian EOR Firm Plans Reverse Merger with Coconut Water Brand
Roosevelt Resources, which is developing an EOR project in the Texas Permian Basin, aims to go public through a reverse merger.
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Midstream
Matador Consolidates Midstream Subsidiary, JV in $600MM Deal
Matador is merging its Delaware Basin Pronto Midstream subsidiary with its San Mateo Midstream joint venture with Five Point Energy to showcase assets an analytical firm called "underappreciated."
Joint Ventures
Shell, Equinor JV to Create UK’s Largest Independent Oil, Gas E&P
The joint venture will produce more than 140,000 boe/d in 2025, Shell said. In the U.K., Equinor currently averages 38,000 boe/d and Shell 100,000 boe/d.
Acquisitions & Divestitures
CNX’s $505MM Bolt-On Adds Marcellus, Deep Utica in Pennsylvania
CNX Resources CEO Nick Deluliis said the deal to buy Apex Energy underscores CNX’s confidence in the stacked pay development opportunities unlocked in the deep Utica.
Shale Plays
The Midland—Oxy’s Second Growth Engine—Already Purring
From 18,000-ft laterals to new exploration in the Emma Barnett, Thaimar Ramirez, president and general manager of Oxy’s Midland Basin Business Unit, detailed the integration of its $12 billion CrownRock takeover.
Liquefied Natural Gas (LNG)
Arbitration Looms for Venture Global Dispute, With Billions at Stake
Claims against Venture Global LNG’s Calcasieu Pass could cost up to $5.4 billion over 6 mtpa of disputed LNG sales, according to Jefferies Group analysts.
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Oil and Gas Investor Magazine
Classic Rock, New Wells: Permian Conventional Zones Gain Momentum
Spurned or simply ignored by the big publics, the Permian Basin’s conventional zones—the Central Basin Platform, Northwest Shelf and Eastern Shelf—remain playgrounds for independent producers.