There goes the neighborhood? In early spring 2019, Exxon Mobil announced it would turn its Permian Basin position into a kind of dreadnought, raising questions about how it will coexist with its neighbors.
In the coming year, public oil and gas companies may face a better chance of being acquired and taken private.
In an unpredictable market, newly minted E&Ps have abandoned the old models of building ready-to-drill assets and instead are forging ahead with new models, operating strategies and leaders.
Jones Energy, which entered bankruptcy with $1 billion in debt in April, agreed to an all-cash deal for its Anadarko Basin assets.
The deal would create the largest pure-play northern Midland Basin E&P with a 73,000-net-acre position and 12,000 boe/d of production that is expected to more than double through 2020.
Speaking at the Marcellus-Utica Midstream Conference, The Williams Cos. said export demands will fuel need for additional supply growth through 2028.
Third-quarter conference calls indicated prudence reigns among the E&Ps, and most people would say thank you and amen to that.
Is oil and gas investing the new yachting for the super-wealthy?
Activist investor Carl Icahn, who owns about 2.5% of the company’s stock, appears set on seizing control of the company by replacing its 10 board members.
A majority of midstream deals are now orchestrated by private-equity buyers, and some public companies are getting big money offers to abandon their ticker symbols and go private.
