The company purchased mineral rights under its existing acreage to increase its working interest and net revenue interest.
Even companies with large inventories continue to seek out value in buying companies. Goldman Sachs rated companies in a point system that determines the likelihood of M&A activity. Top picks include RSP Permian.
FMC Technologies will contribute 39% of the company’s enterprise value and own 49% of a stake in the merger with Technip. But is it worth it?
For the upcoming week Stratas Advisors expects that the price of Brent crude oil will trade between $47 and $49 during the first part of the week, and then will move toward $50 later in the week. Additionally, the firm is forecasting that the Brent-WTI differential will trade between 5 cents and 45 cents with respect to the July contract.
Oil markets will rebalance in the near term, but natural gas imbalances will be much longer-term, the long-time oil and gas executive told the recent Houston Producers Forum.
Despite Vanguard’s loss of the Scoop/Stack acreage and a pared-back borrowing base, the company forecasts it will generate a substantial amount of excess cash flow in 2016.
While Aubrey McClendon’s legacy won’t be tarnished by the closing of his final venture, the company will lose 100 employees who had worked under his guidance.
Oil supplies are stable, low prices are expected to continue in 2016 and ‘there are no plans to purchase E&P assets,’ a Korean oil executive says.