We conclude our interview series with Justin T. Stolte, partner at Gibson, Dunn & Crutcher LLP with part four. Part four looks at who is doing the deals.
“On the public side, you have public shareholders that are requiring that companies in a lot of instances either scale or sell or restructure. You are having a lot of consolidation with these smaller E&Ps. We are continuing to see that. That is an active source of transactions. Private equity remains a significant part of the industry. They have in most instances served as the source of capital to help E&Ps and midstream companies buildout infrastructure, build wells. Private equity players continue to be active players in the industry,” said Stolte.
Coupled with software enhancements and machine learning, manned rigs of today are morphing into autonomous units of tomorrow.
The Chevron and Occidental deal marks the first significant investment by energy groups into the technology developed by Carbon Engineering, a Bill Gates-backed start-up based in Canada.
Technology for reusing flowback and produced water offers solutions for regions facing limited water sources and drought.