In one frame, bankruptcies continued to unravel debt-laden E&Ps. Opposite that, massive megadeals fused together oil and gas companies into Permian Basin behemoths.
2020 has been a dark year for A&D, but a variety of factors point toward bright spots in the foreseeable future. Leaders from Detring Energy Advisors, EnergyNet and UBS Investment Bank share their thoughts on why.
The Permian Basin remains king, but Pioneer Natural Resources CEO Scott Sheffield said he thinks the best shale producers have already been “picked off” in mergers.
Surf’s up, and the merger waves are crashing onshore. Although as the E&P universe continues to shrink, the jury is still out as to whether the recent slew of combinations will be able to generate the returns needed to attract investor interest.
Here’s a snapshot of recent energy deals including the merger of Denver-Julesburg Basin producers Bonanza Creek Energy and HighPoint Resources in a $376 million deal.
Here’s a snapshot of recent energy deals including the closing of Warren Buffet’s Berkshire Hathaway acquisition of the Dominion gas business worth nearly $10 billion acquisition plus the sale of Schlumberger’s rod-lift business to Lufkin Industries.
"We do not need to increase our scale to further lower costs," CEO Travis Stice said during a call with analysts, noting Diamondback Energy's well costs are about 30% lower than in 2019.
Here’s a snapshot of recent energy deals including the $735 million purchase of Chevron’s Appalachia assets by EQT plus a Laredo Petroleum Permian Basin asset acquisition.
Castleton Resources is now the U.S. E&P consolidation platform of investment-grade Tokyo Gas Co. Ltd.