EnCap Investments pulled off a rarity in the U.S. shale business earlier this month with the sale of Felix Energy to rival WPX. However, EnCap's big payday proved short-lived.
A wounded oil and gas industry enjoys better numbers the day after prices plummeted, but steep debt will likely bring about a wave of M&A, bankruptcies and litigation.
U.S. Energy Corp.’s acquisition of New Horizon Resources adds assets in a mature field, primarily in North Dakota’s McKenzie and Divide counties, with existing cash flow, low decline and significant upside potential.
WPX Energy expected the Felix transaction—the largest E&P deal announced in the U.S. during the fourth quarter—to significantly boost its free cash flow, allowing the company to implement a dividend.
Shane Sealy joins global investment bank Houlihan Lokey as a managing director in the firm’s oil and gas group based in Houston.
A report in early January citing unnamed sources gave the acquisition of RS Energy Group by Enverus, formerly Drillinginfo, a roughly $1 billion valuation.