Oil and Gas Investor October 2023 cover featuring Ovintiv President and CEO Brendan McCracken

Oil and Gas Investor Magazine - October 2023

The OGInterview -Magnifying the Margins
Ovintiv President and CEO Brendan McCracken has beefed up the E&P’s portfolio with a major acquisition in the Permian and by adding exposure to the lucrative Canadian LNG market.

Generative AI - Part one
Potential or Peril? Or Both?
AI capabilities can help E&Ps optimize workflows and manage vast troves of data, but there is risk in trusting a system that can ‘talk nonsense confidently.’

Increasingly, You Can't Spell Workflow Without AI
From oilfield to the back office, the industry is able to improve worker safety and better maintain assets.

Prepare for Disruption
AI technology is expected to further boost productivity and 'change the world as we know it.'

Who's Who in A&D and Capital Formation 2023
Oil and Gas Investor presents our annual directory of A&D, "Who's Who in A&D" combined with our annual Capital Formation directory. These two directories contain contact information from hundreds of A&D and capital formation professionals including presidents, CEOs, founders and managers. Additionally, our A&D and Finance editorial experts explore the state of capital formation and investment in 2023.

Cover Story

Ovintiv CEO McCracken: Magnifying Margins

Ovintiv President and CEO Brendan McCracken has beefed up the E&P’s portfolio with a major acquisition in the Permian and added exposure to the lucrative Canadian LNG market.

The OGInterview: Ovintiv Magnifies Margins [WATCH]

Ovintiv President and CEO Brendan McCracken has beefed up the E&P’s portfolio with a major acquisition in the Permian and added exposure to the lucrative Canadian LNG market.

Feature

Generative AI: From Detecting Faults to Dehydrated Workers, AI Infiltrates the Oil Patch

From the oil field to the back office, AI is helping the industry speed up workflows, improve worker safety and better maintain assets.

Generative AI: Prepare for Disruption

Generative AI technology is expected to further boost productivity and ‘change the world as we know it.’

Generative AI: The 'Potential and Peril' for Oil and Gas' Future

AI capabilities are evolving and helping optimize workflows  and aiding E&Ps with the vast troves of data they collect daily.

A&D Watch

Diamondback’s Viper Energy Grabs $1B in Permian Basin Royalty Interests

Viper Energy’s cash-and-equity deal adds 2,800 net royalty acres in the Midland Basin and 1,800 net royalty acres in the Delaware Basin with an average 0.7% net revenue interest.

Enbridge Launches Bid to be NAM’s Largest Gas Utility with $14B M&A

Enbridge said it would buy multiple companies from Dominion Energy that will forge the company in North America’s largest gas utility, ultimately delivering more than 9 Bcf/d of gas to approximately 7 million customers.

Equinor Acquires 25% Stake in Bayou Bend CCS Project

Bayou Bend is being developed on 140,000 gross acres of pore space for permanent CO2 sequestration and gross potential storage resources of more than 1 billion metric tons.

Peak 10 Energy Launches with Permian Basin Acquisition

Peak 10 Energy announced its launch as an oil and gas investment platform focused on the acquisition of assets in the U.S. and particularly in the Permian Basin.

Permian Resources Buys Earthstone Energy for $4.5 Billion

The deal, which comes after extensive M&A by Earthstone, will increase Permian Resources’ leasehold to more than 400,000 net acres and its production to 300,000 boe/d.

At Closing

Big Money is Flowing into the Powder River Basin

More long money is entering the multi-million-acre Powder River Basin, proving early entrants’ potential from the stacked pay.

Commentary

Commentary: Reaganomics and the Texas Grid

ERCOT’s frequent energy conservation alerts this summer only serve to remind Texans the grid has not been fixed in the face of unaccountable bureaucracy.

Oil to Rise, But Won’t Break $100

Stratas Advisors still holds the view that oil prices will not break through $100/bbl this year. 

Pitts: Has US Policy Toward Venezuela Already Failed?

As Chinese and Venezuelan relations grow closer, the U.S. scrambles to salvage its failed sanctions strategy against President Nicolás Maduro.

Recognizing Industry Contributions to Decarbonization

Bolstered by billions in federal loans, grants and tax incentives, investments are being made in both energy transition and oil and gas projects, an indication of long-term sustainable growth.

Strong Demand is Keeping Oil Prices Elevated—But for How Long?

Rig counts are falling—a reflection of higher interest rates and labor costs that now affect drilling costs, moving break-even prices even higher out in the price curve.

Two Charts Diverged in the Energy Transition

Will oil and gas companies take the less traveled road of the energy transition, or stick to business as usual?

Energy Transition

Chevron’s Jeff Gustavson Talks New Energies, Taking Risks

Chevron is spending about 10% to 12% of its overall budget in the low carbon space as it strives for net-zero emissions by 2050, its new energies president says.

Hurry Up and Wait? IRA Puts Transmission, Other Woes in Spotlight

At the end of 2022, more than 2,000 gigawatts of generation and storage were awaiting interconnection across the U.S.—almost double the amount of today’s generation capacity.

Finance & Investment

EY: E&Ps Remain Disciplined as Shareholder Returns Outpace Development Spending

E&Ps have been expanding capital budgets, producing more ESG reporting and returning capital to shareholders and companies appear poised to return to M&A, a report by EY found.

Private Equity Ownership in E&Ps Slips, Reducing Overhang: Truist

A Truist Securities study finds more diversity in private equity ownership of E&Ps and predicts more of them will keep their ownership for the longer term.

Global Energy

Chart Talk: Venezuela’s Subsidized Fuels Range from Free to Cheap

In OPEC-member Venezuela, fuels are subsidized or unsubsidized while prices range from free to cheap at $0.02/gallon on the low end. But drivers still leave a tip: beans and rice.

Is Venezuela the New Iran? Sanctions, Elections Weigh on Oil Powerhouse

Luis Vicente León, president of Datanalisis, Venezuela’s top polling firm, spoke with Hart Energy in an exclusive interview about Venezuela’s oil sector under the weight of U.S. sanctions, potential gas exports to Trinidad and Tobago and the shape of the country’s 2024 presidential elections.

Midstream

In the Pipe: Clearfork Midstream’s Haynesville System Ready for LNG’s Next Wave

From the outset Clearfork Midstream LLC’s acquisition of Azure Midstream in 2022, the goal was a rapid expansion to meet the needs of the Haynesville Shale as a source of global LNG supply.

Technology

Universities Tackle Crude Pipeline Wax Deposits

Teams at the University of Tulsa at University of Texas at Austin are researching flow control options to prevent paraffin deposits in pipelines.