Yesterday, a forward-looking co-worker mentioned that he would be interested to see if Barack Obama's capture of the Democratic nomination for presidential candidate might spike oil prices. While one would surmise that any major U.S. political event would be translated into financial markets and oil prices, it seems that other, more economic, factors ruled the day. Oil prices dropped below $124 per barrel, more than $11 below May 22's trading record of $135.09 per barrel, not in reaction to the historic political event, but because Federal Reserve chairman Ben Bernanke reported that inflation has become a prominent concern. The Fed chairman's comments about rising prices and his inclination to leave interest rates alone for now sent the dollar higher and lessened the chance that oil would exceed the record highs of last month, at least in the short term. We exhale today, but wait for the next supply disruption. Did I just hear someone mention hurricane season has started? You, go lay down by your dish.
Matador Resources to Bolt-on Delaware Basin’s Advance Energy in $1.6 Billion Deal
2023-01-24 - Matador said the deal to purchase Advance Energy, an EnCap-backed company, will not increase its leverage and adds more than 200 net drilling locations in the northern Delaware.
Chesapeake Sells Black Oil Window Eagle Ford Assets to INEOS for $1.4 Billion
2023-02-21 - In a span of about 34 days, Chesapeake has divested more than $2.82 billion in Eagle Ford assets as it makes a push toward a natural gas producing powerhouse.
Baytex Energy Stock Takes Hit as Investors Weigh $2.5B Ranger Oil Deal
2023-03-03 - Baytex Energy’s acquisition of Ranger Oil Corp. is financially accretive and adds much-needed inventory, but analysts and investors have questions about the $2.5 billion deal.
Chesapeake Finds ‘Much Better Deal’ in Eagle Ford Sale to INEOS
2023-02-24 - INEOS Energy Chairman Brian Gilvary told Hart Energy the $1.4 billion Chesapeake acquisition adds “good, economic barrels to add to [the company’s] portfolio.”
ProPetro’s Low-Carbon Future Still Begins and Ends in the Permian
2023-01-17 - Following some A&D in 2022, the Permian-focused oilfield service company is shifting its mindset from aggressive growth to sustainability.