Peak Resources LP, a Powder River Basin E&P led by industry veteran Jack E. Vaughn, is positioning itself for an IPO, filings show.
Dorchester Minerals agreed to buy Permian Basin interests in the Midland and Delaware basins for roughly $215 million, based on its Sept. 16 unit price.
Beth McDonald joins SM Energy as its new executive vice president and COO, bringing with her about 20 years of experience as an executive at Pioneer Natural Resources.
Non-operated specialist Northern Oil & Gas is going after larger acquisitions by teaming up with adept operating partners like SM Energy and Vital Energy. It’s helping bridge a capital gap in the upstream sector, say NOG executives Nick O’Grady and Adam Dirlam.
The acquisition of Permian Basin interests in Dawson County, Texas, follows a July deal by Rising Phoenix Royalties for a non-operated working interests in the Denver-Julesburg (D-J) Basin.
Proceeds from an Ovintiv divestiture in the Uinta Basin could help fund a deal for Double Eagle’s Midland Basin assets, but analysts say the money could just as easily be used for debt reduction.
As they trail E&Ps in the public markets, some non-operated oil and gas companies are taking firmer control of drilling decisions as executives look to reinvent their business model.
Devon Energy is perfecting its spacing and completion recipe in Wyoming’s Powder River Basin play to possibly unleash full-field development later this decade.
Since finding backing from Quantum Energy Partners, Bison Oil & Gas IV has built an 83% HBP position in the Denver-Julesburg Basin, including more than 400 net locations and an average 20,000 boe/d, says CEO Austin Akers.
Chevron aims to grow Permian volumes past 1 MMboe/d in 2025—less than a decade after it averaged less than 100,000 boe/d from legacy holdings in West Texas and New Mexico, Chevron CEO Mike Wirth said.