Oil and Gas Investor Magazine - July 2025
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In this issue of Oil and Gas Investor, Editor-in-Chief Deon Daugherty does a deep dive into the annual Top 100 Private Producers list, developed in conjunction with Enverus, for a special report about the state of private producers in the industry. Interviews with several of the key producers on the list shed light on developing and new technology and how that has changed the metrics that indicate guidance. Our staff also spoke with leadership at several private equity firms, analyzed the surprising acquisition of Encino Energy by EOG Resources, and dug into the data to estimate a value for BPX Energy if the U.S. subsidiary of BP is put on the market.
Special OGI Report
Feeding on Volatility
The uncertainty of the times does not scare the top private E&Ps, those shrewd enough to keep production steady and M&A options open.
The New Shape of the Top Private Producers List
The ranking of top U.S. private producers demonstrates changes in the space following a massive consolidation trend in the upstream sector, Enverus says.
Features
Money Talks: Private Equity Makes Its Own Momentum
Firms with longtime loyalty to the oil and gas industry are raising funds that are steadily adding to their coffers, accumulating billions of dollars’ worth of dry powder.
Constitution Resurrection?
With encouragement from the president, Williams moves forward on two contentious pipeline projects in the Northeast that had been left for dead. But it won’t be easy.
Harnessing Pressure Geothermal Power, Storage
Cindy Taff, CEO of Sage Geothermal, has her Houston-based company using its oil and gas knowledge to advance geothermal power and storage projects.
Positioned to Thrive in the Golden Age of Gas
Diversified Energy’s recent Cherokee JV and western Haynesville deals provide exposure to emerging plays without drilling risks, says CEO Rusty Hutson.
'Family Man' Shepherds Big Money into Oil and Gas
Keith Behrens has helped family office money to become a critical pool of energy capital.
Brisk Return to Deal Flow in Second Half
Private equity firms are loaded for “pent-up” portfolio rationalization after rampant industry consolidation, particularly in the Permian, but the timing is anyone’s guess.
Finance & Investment
Top US Private Producers See Opportunity in Market Volatility
Privately held oil and gas producers from Surge Energy, Northeast Natural Energy, Anschutz Exploration, Greylock Energy and Jonah Energy dish on their plans in the Delaware, Midland Appalachian basins, where they ready to pounce on M&A opportunities.
Midstream
NOPEC for Natural Gas: OPEC for LNG Unlikely—Despite Booming Global Gas Market
As LNG demand and geopolitical influence grow, talk of a natural gas cartel resurfaces. But structural, technical and political hurdles make an OPEC-style group nearly impossible, analysts say.
Trends & Analysis
Veteran, Newly Listed Private Producers on Top 100 Hungry for M&A
The new 2025 ranking of top U.S. private producers demonstrates changes in the space following a massive consolidation trend in the upstream sector, Enverus says.