The recently announced agreement by Pioneer Natural Resources to acquire DoublePoint Energy, with multiple private equity sponsors, also adds further indications of a shift toward private upstream activity, analyst says.
The combined oil and gas rig count rose two to 432 in the week to April 9, its highest since April 2020, Baker Hughes said in its weekly report.
EOG Resources Austin Chalk wells, Diamondback and Centennial completions in the Permian’s Delaware Basin plus more drilling planned by Shell at its Blacktip prospect in the U.S. Gulf of Mexico top this week’s oil and gas drilling activity highlights from around the world.
Analysts said it was normal for LNG plants and gas pipelines supplying them to shut for maintenance in the spring when demand is low.
Goodrich Petroleum COO shares insight on its operations in the gassy Haynesville Shale as forecasts show natural gas prices and LNG exports rising.
While U.S. natural gas demand was mostly flat in 2020, Mexico’s grew. And it came from Texas. The outlook is that Mexico will be ordering more, including from the Eagle Ford’s underdeveloped gas fairway.
Here’s a snapshot of recent energy deals including two large Permian Basin deals including the surprise $6.4 billion acquisition of DoublePoint Energy by Pioneer Natural Resources.
Here’s a quicklist of oil and gas assets on the market including Starboard, Max Permian Northern Delaware Basin leasehold plus an Antrim Shale ORRI well package and a state lease sale in New Mexico’s Lea County.
The largest week-over-week increase was in the Gulf Coast, where eight new rigs were added, primarily in the Eagle Ford Shale, according to Enverus.