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Shale Plays
Ovintiv to Boost 2024 Free Cash Flow to Nearly $2B
Ovintiv management reported its on track to generate $1.9 billion in 2024 free cash flow but skirted a question about the company’s possible pursuit of Midland Basin E&P Double Eagle.
Surge of Longer Lateral Drilling to Enhance Reservoir Recovery
With energy demand growing, operators look to supply hydrocarbons by drilling longer wells.
Found in Mitchell County, Permian Basin: 2.5-mile Wolfcamp Stepouts
Bayswater Exploration & Production has taken its Midland Basin oil play far east into Mitchell County where a high carbonate content “gives us a chance to really compete with the big guys.”
CEO Darren Woods: What’s Driving Permian M&A for Exxon, Other E&Ps
Since acquiring XTO for $36 billion in 2010, Exxon Mobil has gotten better at drilling unconventional shale plays. But it needed Pioneer’s high-quality acreage to keep running in the Permian Basin, CEO Darren Woods said at CERAWeek by S&P Global.
More Top Stories in Shale Plays
Post Oak Backs New Permian Team, But PE Faces Uphill Fundraising Battle
As private equity begins the process of recycling inventory, likely to be divested from large-scale mergers, executives acknowledged that raising funds has become increasingly difficult.
October 11, 2024
Post Oak Capital Backs Permian Team, Invests in Haynesville
Frost Cochran, managing partner at Post Oak Energy Capital, said the private equity firm will continue to focus on the Permian Basin while making opportunistic deals as it recently did in the Haynesville Shale.
October 11, 2024
ONEOK’s EnLink/Medallion Deal is Market-wise, Financially Astute
In addition to bolstering its multi-basin network, ONEOK pulled off a $5.9 billion transaction while leaving its credit rating intact.
October 11, 2024
Utica Oil: EOG’s New Downspacing Test Came on With 1,108 bbl/d
EOG Resources’ five-well Shadow pad surfaced 72,022 bbl its first 13 days online.
October 11, 2024
‘Worried’ E&Ps Keep Merging as Shale Ages, Costs Rise—Kimmeridge
With just half as many public E&Ps around today as there were in 2017, Kimmeridge and Managing Partner Ben Dell think the E&P space still has—and needs—plenty more M&A.
October 11, 2024
Atlas Commissions 42-mile Dune Express Conveyor, Lowers 3Q Guidance
Atlas Energy Solutions said its Dune Express proppant conveyor remains on time and on budget, but the company expects lower revenue and EBITDA for the third quarter.
October 10, 2024
LNG Sector Under Fire as Activists’ Lawsuits Surge
ESG litigation is increasingly affecting the LNG industry while, more broadly, nearly 70% of climate-related cases are filed in the U.S.
October 10, 2024
APA Curtails Natgas, NGL Output Amid Low Waha Prices
Apache parent APA Corp. curtailed more natural gas and NGL output than previously anticipated as it realized just $0.15/Mcf in the U.S.
October 10, 2024
After M&A, Some ‘Stingy’ E&Ps Plan to Hold Operated Shale Inventory
After a whirlwind run of upstream consolidation, experts anticipated a wave of portfolio rationalization and divestitures. But with high-quality drilling locations already scarce, E&Ps may cling to operated inventory.
October 10, 2024
Election-proof? Shale Likely Unaffected by Presidential Outcome
Under a Trump or Harris administration, shale producer’s focus on shareholder returns and market forces will likely influence E&Ps more than politics, Rystad Energy analysts say.
October 9, 2024