The big have grown bigger and Tier 1 acreage is even pricier in America’s hottest oil basin.
Following M&A in 2023, four companies are now positioned to control about 58% of future production in the Permian Basin.
Delaware Basin E&P Battalion Oil is being acquired in a go-private transaction by a newly formed E&P Fury Resources. Could go-private sales become more common for small E&Ps with limited runway in the public markets?
Megadeals between Chevron and Hess and Exxon and Pioneer Natural Resources are under intensified scrutiny but the oil and gas firms say they will cooperate in the U.S. Federal Trade Commission’s “second request” for information.
Exxon reported more scrutiny from the FTC on Dec. 6, while Pioneer Natural Resources’ incoming CEO Rich Dealy told Hart Energy both firms will be transparent with the inquiry.
After nine months of Permian Basin M&A ranging from private buyouts to major mergers, Wood Mackenzie’s Ryan Duman discusses what’s next for dealmakers in the basin.
E&Ps large and small are scouring the Permian Basin to buy up top-quality drilling locations. But they’ll have to pay a hefty premium to get longer in America’s hottest oil play, according to WoodMac research.
Exxon Mobil’s acquisition of Pioneer Natural Resources diminishes—at least, temporarily—the swagger of U.S. independents.
Exxon Mobil scooping up Permian Basin giant Pioneer Natural Resources in a $60 billion deal could spur other megadeals across the U.S. oil patch, experts say.
After Exxon Mobil’s deal to buy Denbury, CCS sequesterers and transporters appear to be “leading the dance” in driving carbon capture and sequestration projects, midstream operators and legal experts say.