What’s going on in West Texas? The M&A market is heating up while our team is in Calgary covering the 24th World Petroleum Congress with Hart Energy LIVE, and this is your A&D Minute powered by BOK Financial Securities.
Vital Energy is spending over $1.1 billion to extend its drilling runway in the Permian Basin, agreeing to acquire three private E&Ps with assets in the Midland and Delaware basins, and bulking up on drilling inventory that analysts say was sorely needed.
Kimbell Royalty Partners is also growing in the Permian, adding royalty interests in the Delaware and Midland basins as well as in the Midcontinent in a $455 million cash deal. The acreage offers exposure to major operators like EOG, Occidental, ConocoPhillips and Pioneer Natural Resources.
And here in Canada, Murphy Oil closed on sales of non-operated assets in the Kaybob Duvernay and Montney plays, and plans to take proceeds from the Canadian sales and put the money to work on new developments in Vietnam and the Ivory Coast.
That’s your A&D Minute powered by BOK Financial Securities with Hart Energy LIVE at the 24th World Petroleum Congress. Watch new episodes every Wednesday with our A&D Watch newsletter. Sign up at hartenergy.com/deals.
2023-11-27 - A delayed OPEC meeting, Russian oil export sanctions, falling confidence in Chinese multinational companies and the Israeli-Hamas conflict are all playing a hand at affecting oil prices this week.
2023-11-05 - Rising hydrocarbon production has allowed the U.S. to join the world’s leading energy exporters. Robust natural gas production will allow it to stay there.
2023-11-22 - While the oil market is currently dismissing geopolitical risks, Stratas Advisors' John Paisie says the possibility of the Israel-Hamas conflict progressing in an unpredictable manner may cause a spike in oil prices.
2023-10-20 - Geopolitical events in the Middle East and fears of escalation may stand to benefit Venezuela both indirectly from a run-up in oil prices and directly through further easing of U.S. sanctions.
2023-10-19 - The U.S. Office of Foreign Assets Control (OFAC) issued a license that authorizes some transactions by Venezuela’s oil and gas industry for a limited time, but a meaningful production ramp up would require massive investments over multiple years, analysts say.