Oil and Gas Investor Magazine - December 2023
Buy & Buy
Vital Energy’s rapid growth in the Permian Basin’s stems from CEO Jason Pigott’s strategy of acquiring smaller private producers—one after the other.
Between a Rock and a Wind Turbine
EIG’s chairman and CEO says private equity investors are steering clear of fossil fuels but balk at energy transition projects’ lackluster returns.
'A Transformational Acquisition'
Four years after the controversial acquisition of Anadarko, Occidental CEO Vicki Hollub has silenced the doubters.
Is Endeavor Worth $30 Billion?
Based on Exxon Mobil’s valuation of Pioneer Natural Resources and other data, analysis
suggests the Midland Basin pure-play could attract a very high price.
Does M&A Reduce CO2?
Dan Pickering: “Consolidation is going to translate to probably more intensive efforts
around low carbon.”
Big Tech, Bad Rep Draining Talent
Attracting younger hires requires changing hearts and minds, says industry advocate.
Energy's New Math: Addition, Not Transition
Tech experts spell out how the industry can educate the public about the energy transition.
In Memoriam: Jim Henry
Oil and Gas Investor Presents: Hart Energy's Hall of Fame 2023
In a special 13th issue of the 2023 production year celebrating the 50th anniversary of Hart Energy, Oil and Gas Investor presents its inaugural Hall of Fame, celebrating the icons of the industry—fifty of the most impactful and influential people in the oil and gas industry, as well as 19 Agents of Change in Energy (ACEs), people who are paving the way for the future of the industry.
Vital Energy’s rapid growth in the Permian Basin stems from CEO Jason Pigott’s strategy of acquiring smaller private producers—one after the other.
Exxon Mobil’s valuation of Pioneer Natural Resources plus new Endeavor data suggests buying Endeavor Energy Resources could come with a high price tag, according to Hart Energy analysis.
Recruiting new talent requires improving the oil and gas industry’s image panelists at the Society of Petroleum Engineers’ (SPE) Annual Technical Conference and Exhibition said on Oct. 16.
R. Blair Thomas, EIG chairman and CEO, says private equity investments have been balkanized as investors steer clear of fossil fuels but balk at energy transition project’s lackluster returns.
Drawing in younger talents requires changing hearts and minds about the industry, Energy Workforce & Technology Council president says.
James “Jim” Henry, a longtime Permian Basin wildcatter who last month sold his company to Vital Energy, has passed away.
‘Consolidation is going to translate to probably more intensive efforts around low carbon,’ Pickering Energy Partners founder says in the wake of Exxon Mobil's massive acquisition of Pioneer Natural Resources.
Four years after acquiring Anadarko Petroleum, Occidental CEO Vicki Hollub has proved her critics wrong, and she credits the deal with carrying the company through the depths of the pandemic.
Crescent Point is extending its premium drilling inventory in the Alberta, Canada, Montney Shale with a roughly US$1.86 billion (CA$2.55 billion) acquisition of Hammerhead Energy.
After pushing Chesapeake to pivot into a pure-play natural gas company, activist investor Kimmeridge wants to see a deal come together with Southwestern Energy—for the right price.
Permian Resources isn’t ruling out more large-scale M&A after closing a $4.5 billion acquisition earlier this month, but the growing E&P sees multiple opportunities for small-scale bolt-ons in the Delaware Basin.
Chevron is entering the Bakken Shale play in a big way through its $53 billion acquisition of Hess Corp. After closing, will the supermajor be in North Dakota to stay?
A Vistra Corp. chief, ERCOT’s vice chairman and a private investor talk about what’s really happening on the U.S. grid, and it’s not just a Texas thing.
Chevron appears to be in Venezuela to recoup money from the OPEC country while confronting a number of headwinds, including political uncertainties and a now truncated General License No. 44.
With OPEC+ meetings in Vienna on Nov. 26, Saudi Arabia remains the de facto head of the group — and a wildcard.
Reading between the lines of midstream management's third-quarter commentary, executives had plenty to say about dividends, M&A and misjudged opportunities.
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.
As 2023 closes and we look ahead, energy prices remain volatile and dependent on weather and geopolitical factors.
As Hart Energy commemorates its 50th anniversary in the December issue of Oil and Gas Investor, Hart looks back on what truly drives the oil industry—the romance and thrill of the business.
Our energy policy needs to reflect and enhance our role as the global energy and environmental leader.
NextEra Energy Inc. said its renewables arm, NextEra Energy Resources, added more than 3.2 gigawatts of projects to its backlog.
Finance & Investment
Without any imminent threats to natural gas supplies, a forecasted El Niño typically leads to warmer weather and less demand in the Lower 48.
Third-quarter earnings for U.S. natural gas producers plummeted compared to last year, when prices spiked to their highest levels since the Great Recession. Now, all eyes are turned toward growing gas demand to serve new U.S. LNG export capacity coming online.
A survey by law firm Haynes Boone found equity and free cash flow are expected to meet nearly half of oil and gas companies’ capital needs in the next 12 months.
Analysts are supportive of Exxon Mobil and Chevron’s all-stock deals in response to some grumbling among stockholders, saying the supermajors are saving cash for optionality and avoiding debt.
Chevron’s $53 billion all-stock deal for Hess Corp. will see the California oil giant team up with its Texas counterpart Exxon Mobil to create an American “dream team” in Guyana’s offshore Stabroek Block where production has been rising exponentially each year.
A potential deal between Washington and Caracas to ease sanctions on Venezuela could see the South American country boost production by 200,000 bbl/d—a relative drop in the bucket for world oil markets, Rystad Energy says.
Venezuela’s Vice President Delcy Rodríguez accused Guyana’s president Mohamed Irfaan Ali of following mandates from Exxon Mobil Corp. and the U.S. Southern Command regarding the small English-speaking country’s claims to the disputed Essequibo territory located between the two South American countries.
Pipeline company M&A continues as Lower 48 production soars while midstream companies also hiked dividends despite weak commodity prices.
Amazon Web Services, Shell and SLB are collaborating to streamline workflows and transform workloads.
From fool’s errands to potentially “breaking” systems, cybersecurity executives should tread carefully as they strengthen legacy oil and gas infrastructure — and better communicate risks to decision-makers.
In areas with limited takeaway capacity like the Uinta Basin, using natural gas to power bitcoin mining can prevent operators from having to shut in production.
Vijay Swarup, senior director for climate strategy and technology at Exxon Mobil, said existing technologies have had decades to develop while newer emissions advances are just starting to deploy.