After the lost year of 2020, have private E&Ps and their sponsors had to rethink everything?
It’s not the Keynes kind; it’s the Jack London kind. E&P executives are restless, according to a Dallas Fed survey, and they’re going mano a mano for market share. Will it manifest in consolidation? Where to next for the sellers? For some, it’s a new land rush: energy transition.
Like the E&P sector that precedes it, U.S. oilfield services companies are facing a precipitous drop in capex for 2021. The hard reality? Adapt or die.
The U.S. oil and gas industry is under extreme pressure by capital providers, stakeholders and elected officials to mitigate greenhouse gas emissions and to show compliance to globally accepted climate change goals. Can a hydrocarbon-producing company win in this scenario?
After enduring a wild year, oil and gas producers seek a “new normal.” It will depend on the balance between supply and demand and the economic recovery.
Securing federal drilling permits, further proving the merits of midspacing wells, making free cash flow, achieving scale and finding an exit or, if not, how to go forward otherwise. Here’s what’s on the minds of oil and gas operators in the Delaware Basin today.
Wall Street kicked U.S. independents to the curb, fed up with a decade of capital destruction, misaligned executive incentives and an indifference to environmental impacts. Do E&P management teams have the chutzpah to transform their models to win back investors?
Shale operators have plans to restart production. But with OPEC seemingly satisfied with $40 oil prices, U.S. producers are facing the prospect of becoming ‘zombie companies’—all dressed up but with nowhere to drill.
Kicked out of the club in 2012, the Haynesville was resurrected beginning in 2017 to take on the mighty Marcellus in metrics, aided by a proximity-to-market kicker. Now, it’s taking on oil basins at the IRR weigh-in.
Zero- and lightly levered private operators throughout U.S. oil basins are on the lookout to buy—and not just where they operate currently. These five producers—in Wyoming, Oklahoma, Colorado and South Texas—share their plans.
With the prospect of associated gas from the Permian and Eagle Ford diminishing, many producers view the future of dry gas plays in the Appalachian Basin more positively. Those well-positioned and well-capitalized companies are staring at an unexpected opportunity.
As E&Ps jam the brakes on capex spend, the largest U.S. oilfield service providers respond in unison, cutting costs where they can and laying down equipment where they must.
In a market environment where buyers and sellers are at odds over price and the public market is openly hostile to deals, E&P shoppers may sit out an uncertain 2020.