Oil and gas dealmaking continued at a high clip in the first quarter, especially in the Permian Basin. But a thinning list of potential takeout targets, and an invigorated Federal Trade Commission, are chilling the red-hot M&A market.
Following the transaction, GE Goodson will operate as The JF Petroleum Group’s Midland branch on a go-forward basis.
Continental Resources is adding leases in Midland and Ector counties, Texas, as the private E&P hunts for drilling locations to explore. Continental is also testing deeper Barnett and Woodford intervals across its Permian footprint, CEO Doug Lawler said in an exclusive interview.
Rock Oil Holdings has retained PetroDivest Advisors for the sale of a mineral and royalty opportunity in Howard County, Midland Basin.
The Midland Basin is the center of U.S. oil drilling activity. But only those with the biggest balance sheets can afford to buy in the basin's core, following a historic consolidation trend.
Enterprise Products Partners began service on two natural gas plants: the Leonidas in the Midland Basin and the Mentone 3 in the Delaware Basin, each with a capacity to process 300 MMcf/d of natural gas and 40,000 bbl/d of NGLs.
Once a company with low outside expectations, Surge Energy is now a premier private producer in one of the world’s top shale plays.
Diamondback Chairman and CEO Travis Stice first offered “at least $25 billion” for Endeavor Energy Resources on Dec. 8. The deal closed just weeks later for $26 billion.
Global commodities trading house Vitol likes exposure to the U.S. upstream space—while supermajor producer Exxon Mobil is digging deeper into its trading business, executives said at CERAWeek by S&P Global.
The E&P is looking to hitch a ride on heated, renewed Permian Basin M&A.