Despite the downturn in oil and gas prices and other commodities, natural resources fundraising may set a record this year.
Since August, RSP Permian’s acquisitions have added net production of 3,500 boe/d, 277 net horizontal locations and 47,000 net effective horizontal acres while raising liquidity enough to offset overspending.
WPX Energy and Bill Barrett are among E&Ps actively divesting assets to pay off debt, pay for their own acquisitions or focus on core plays. Other companies are trying to buy, but continue to see private equity beat them out.
Diamondback Energy is changing its pace, slowing down after three years of meteoric growth to settle into a prolonged run of hard-knuckled, steadily efficient operations.
After purchasing Permian Basin acreage for $2.75 billion, WPX Energy is set on selling assets in the San Juan Basin, Kansas and the Piceance Basin as it clears the deck of debt.
Noble gets a subpar price for some of its interest offshore Cyprus, including the Aphrodite natural gas discovery, while new regulations force the sale of offshore Israel licenses.
Cheniere’s CEO tells producers that more competition, liquidity on the horizon.
Dire market conditions may have caused some to consider halting investment offshore, especially given a strong shale presence onshore. But Noble Energy sees opportunity.