Noble Energy has targeted divestitures of between $500 million to $1 billion in assets sales to support its ambitious, though frugal plans for 2019.
The middle class of E&P companies is shrinking as consolidators target companies valued between $3- and $10 billion, leaving dozens of lesser-valued companies to sweat as access to public equity markets remains blocked and oil prices recede.
As public companies upgrade to data analytics and supply chain management to further improve their bottom lines, private-equity E&Ps will have to work harder to make assets appealing to buyers.
Double Eagle Energy Holdings III LLC’s young co-CEOs have seen life-altering success in Oklahoma and Permian Basin deals. But it’s a renewable resource—relationships, that is—that powers the company.
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