OGI March 2019

Oil and Gas Investor Magazine - March 2019

As Leslie Haines, executive editor-at-large, shares back in the day the industry was all about spending more capital but now that has all changed. Now, the next wave seems to be about determining how much maintenance capex is needed to keep the decline rate flat and therefore, extend the timeline to drill out the inventory. This issue of Oil and Gas Investor focuses on these practices by private buyers particularly in the Marcellus and Utica basins.

As Leslie Haines, executive editor-at-large, shares back in the day the industry was all about spending more capital but now that has all changed. Now, the next wave seems to be about determining how much maintenance capex is needed to keep the decline rate flat and therefore, extend the timeline to drill out the inventory. This issue of Oil and Gas Investor focuses on these practices by private buyers particularly in the Marcellus and Utica basins.

Also in this issue: 

  • Acquisitive E&Ps backed by powerful private equity seek more production, and more profits.
  • Today’s non-ops go the extra mile to ensure the latest data for investing in wells and
    future inventory.
  • Forces within the energy sector compete for dominance.

Cover Story

Appalachian Buyers Buildup

Acquisitive E&Ps backed by powerful private equity seek more production, and more profits.

Feature

A&D Review: Upstream M&A’s Unfinished Symphony

Splashy mergers worth billions dominated the talk, but many companies spent 2018 playing it safe as E&P executives fretted over trade, interest rates, demand for oil, how to please investors and how long better times would last.

A&D’s Long And Twisted Road

The middle class of E&P companies is shrinking as consolidators target companies valued between $3- and $10 billion, leaving dozens of lesser-valued companies to sweat as access to public equity markets remains blocked and oil prices recede.

Anadarko Petroleum CEO Al Walker’s Views

The chairman and CEO of Anadarko Petroleum Corp. weighs in on the Permian, LNG, investor sentiment, politically motivated barrels and why he is not worried.

Co-Developing The Scoop

Stacked-pay basins present both opportunity and challenge when evaluating the most economic variations of development. Three companies active in the Scoop play in the southern Anadarko Basin reveal their current full-field development strategies.

Energy Capital: Volatile But Range Bound

Two leading data providers tell a tale of woe for energy capital availability, but one credit analyst sees rays of hope ahead.

Executive Q&A: Transforming DJR Energy

A D-J Basin veteran’s start-up will apply horizontal drilling to the Mancos Shale on assets acquired from Encana Corp. in the San Juan Basin.

Nonop E&P Strategies: In Search Of Superior Wells

Today’s nonop E&P teams go the extra mile to ensure the latest data for investing in oil and gas wells and future inventory.

Vaca Muerta: Poised For Liftoff

In 2018, oil production in Argentina reached nearly 500,000 barrels per day (bbl/d), up 2% from 2017 and halting a multiyear decline.

A&D Trends

A&D Trends: Buck Rogers Vs. Michael Corleone

The beginning of February brought a sense of just how off-kilter 2019 is setting out to be.

At Closing

A Neat Hat Trick

Is maintenance capital the new, wholesome benchmark?

E&P Momentum

E&P Momentum: Living Within Cash Flow

The tight formation revolution rewarded technically skilled managerial teams. Now Wall Street’s demand for shareholder-friendly free cash flow presages a different business philosophy.

From the Editor-in-Chief

Oil And Gas Investor: Valuing Rocks And Stocks

Mike Grimm, president of Rising Star Petroleum, reflects on one of the biggest upstream oil and gas deals in 2018.

On the Money

Volatility Crushes E&P Investor Confidence

Recent reports by Citi have warned of a period of commodity volatility, especially in crude markets.