Together, the Appalachia and Permian basins are expected to supply about 53% of the North American gas market by 2030, according to McKinsey and Co.
Natural gas makes up for a majority of Chesapeake Energy's production. But the company has been shifting its focus to oil production as gas prices have been pressured.
U.S. oil producer Continental Resources Inc reported a 19.7% fall in quarterly adjusted profit on Aug. 5 as weaker crude and natural gas prices more than offset a rise in overall production.
The Occidental-Anadarko takeover plus the completion of Encana and Chesapeake’s multibillion-dollar mergers top our list of upstream deal-making from the first half of 2019.
Encana edged past estimates for quarterly profit on July 31, helped by increased shale oil production in the Anadarko and Permian basins.
Apache recently agreed to sell its Midcontinent positions in the Western Anadarko Basin and Scoop/Stack in separate transactions with two private-equity backed E&Ps.