Onshore

Earnings , Shale Plays

Endeavor Integration Brings Capital Efficiency, Durability to Diamondback

The combined Diamondback-Endeavor deal is expected to realize $3 billion in synergies and have 12 years of sub-$40/bbl breakeven inventory.

February 22, 2024

Liquefied Natural Gas (LNG) , Exploration & Production

Woodside’s Pluto Train 2 Nears 2026 Start Up with Modules Delivery

First 3 of 51 modules have arrived on site in Western Australia for the onshore LNG project that will receive gas from the offshore Scarborough project.

February 21, 2024

Acquisitions & Divestitures

Benchmark Buys Revolution Resources’ Anadarko Assets in $145MM Deal

Benchmark Energy II is acquiring Revolution Resources just over four years after Revolution bought out Jones Energy Inc.’s Midcontinent portfolio.

February 20, 2024

Earnings , Shale Plays , Completions , Drilling

Patterson-UTI Braces for Activity ‘Pause’ After E&P Consolidations

Patterson-UTI saw net income rebound from 2022 and CEO Andy Hendricks says the company is well positioned following a wave of E&P consolidations that may slow activity.

February 19, 2024

Acquisitions & Divestitures , Mergers , Shale Plays

Analysts: Diamondback-Endeavor Deal Creates New Permian Super Independent

The tie-up between Diamondback Energy and Endeavor Energy—two of the Permian’s top oil producers—is expected to create a new “super-independent” E&P with a market value north of $50 billion.

February 12, 2024

Acquisitions & Divestitures

Diamondback Energy to Acquire Permian’s Endeavor for $26B

Diamondback Energy will acquire Endeavor Energy in a cash-and-stock agreement that will create a Permian juggernaut with a combined value of more than $52 billion in a merger of near equals.

February 11, 2024

CCS/CCUS , Bioenergy/Biomass

Summit Carbon Solutions, POET Partner on CCS Project

The partnership will incorporate POET’s 12 facilities in Iowa and five facilities in South Dakota into Summit’s carbon capture and storage project.

February 7, 2024

Mergers

California Resources Corp., Aera Energy to Combine in $2.1B Merger

The announced combination between California Resources and Aera Energy comes one year after Exxon and Shell closed the sale of Aera to a German asset manager for $4 billion.

February 7, 2024

Acquisitions & Divestitures

Tellurian Exploring Sale of Upstream Haynesville Shale Assets

Tellurian, which in November raised doubts about its ability to continue as a going concern, said cash from a divestiture would be used to pay off debt and finance the company’s Driftwood LNG project.

February 6, 2024

Rig Counts , Field Development , Shale Plays , Unconventional

Chevron Hunts Upside for Oil Recovery, D&C Savings with Permian Pilots

New techniques and technologies being piloted by Chevron in the Permian Basin are improving drilling and completed cycle times. Executives at the California-based major hope to eventually improve overall resource recovery from its shale portfolio.

February 6, 2024