Acquisitions Divestitures

Exclusives

Cox Oil To Acquire Energy XXI Gulf Coast For $322 Million

Energy XXI said it will terminate its previously announced partnership with Orinoco Natural Resources as a result of the Cox Oil transaction.

June 18, 2018

HEADLINES: Saudi Energy Minister Calls OPEC Output Boost ‘Inevitable’

Also this week, Phillips 66 to expand Texas NGL project. Meanwhile, Exxon Mobil and Plains pursue Permian pipeline JV and Pioneer sells Colorado assets.

June 14, 2018

DGO Unveils $575 Million Acquisition Of Appalachia Assets

The proposed acquisition is expected to more than double DGO’s daily production from legacy gas wells in the Appalachian Basin.

June 14, 2018

Pioneer Exits Colorado’s Raton Basin For $79 Million

Pioneer Natural Resources continues to sell assets as it moves toward becoming a Midland Basin pure-play.

June 13, 2018

A&D - E&P

Hess CEO: Focus On Returns Now Will Hurt Long-Term US Shale Investment

"Investor sentiment in the last year has really, markedly changed. I'd say it's gone from, 'drill, baby, drill,' to 'show me the money,'" says Hess CEO John Hess speaking at the OPEC International Seminar.

10:15 am

US Oil Producers Face Output Squeeze As Permian Pipelines Fill

Pioneer's Scott Sheffield said this week that overall Permian output could flatten in the 12-month period ending September 2019, when proposed pipelines are completed.

9:30 am

Venezuela Says US Sanctions Hurt Oil Market Stability

U.S. sanctions on Venezuela are an attack against the stability of the global oil market, Venezuelan Oil Minister Manuel Quevedo said on June 21.

9:13 am

Marketed: Permian Basin Position, Eddy And Lea Counties, New Mexico

Jalapeño Corp. retained EnergyNet as its exclusive adviser to market their interest within the Permian Basin located in Eddy and Lea counties, N.M.

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Insight

Analyst: Texas Crude Production To Double In Five Years

As production from the Permian Basin continues to rise, taking exports to new highs, takeaway capacity can’t seem to catch up.

June 20, 2018

Report: Supermajors Need To Spend $30 Billion To Hit Permian Production Targets

The investment ramp-up could bring about cost inflation that might challenge smaller E&Ps and eventually make way for Permian consolidation, IHS says.

June 18, 2018

The Rockies: Re-Emerging As A Real Contender

Stratas expects capital outlays for unconventional oil in the Rockies to top $12 billion in 2018 as the industry’s views of the Bakken, Wattenberg and Powder River Basin change.

June 15, 2018

Production Delays To Halt $10 Billion Worth Of Crude Despite Boom In US Exports

As U.S. exports continue to soar, the capacity shortfall will force production to flatline.

June 12, 2018

Joint Ventures

BP Invests In Israeli Fast-Charge Battery Company

The investment, BP Ventures said, is part of a push to tap into the growth in electric vehicle technologies and infrastructure.

May 22, 2018

Congress May Get Tougher On Foreign Investors

Outwardly, U.S. shale seems a tough sell to Chinese NOCs these days, but their reluctance may have more to do with the scrutiny that has been brought on to NOCs for years.

May 14, 2018

EP Energy Modifies Permian JV To Focus On Eagle Ford Instead

The JV, formed in January 2017 between EP Energy and a subsidiary of Apollo Global Management LLC, was originally intended to drill up to 150 Wolfcamp wells.

May 8, 2018

W&T Offshore, Baker Hughes Team Up For GoM Drilling Project

The project utilizes a commercial model that consolidates BHGE engineering, products and services expertise in order to reduce total project costs and time to first production.

April 30, 2018

Mergers & Acquisitions

Cheniere Energy, Cheniere Partners Holdings Announce Definitive Merger Agreement

Transaction is expected to close by the end of the third quarter.

June 19, 2018

Canada's Baytex To Buy Oil Producer Raging River For C$2.8 Billion

Canadian oil and gas producer Baytex Energy said it would buy rival Raging River Exploration for about C$2.8 billion (US$2.13 billion) to expand in the oil-rich Duvernay Field in Alberta.

June 18, 2018

Hong Kong’s CKI Launches $9.8 Billion Bid For Australia’s Top Gas Transporter

Hong Kong’s CK Infrastructure Holdings has made a AU$12.98 billion (US$9.8 billion) takeover offer for Australia’s biggest gas pipeline company, APA Group, offering a hefty 33% premium to tap into a tight gas market on June 13.

June 13, 2018

M&A Forecast For 2018: ‘Mixed But Promising’

KPMG analysts are bullish about a pickup in oil and gas deal making, with foreign investment expected in the U.S. renewables market.

June 13, 2018

Midstream

Fluid Growth: Water Costs To Increase With Record-Breaking Permian Production

Crude production out of the Permian is set to grow at a dynamic rate in the coming years, but breakeven prices are expected to increase with higher water usage.

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DUG East: Update – Record-Breaking Utica Wells

Eclipse Resources has broken several laterals records in the Utica Shale and CEO Ben Hulburt told DUG East attendees he expects the company to break even more records.

June 20, 2018

California Looks To Boost Natural Gas Stored In SoCalGas Aliso Canyon

Massive leak from 2015 continues to make region prone to shortages.

June 20, 2018

US Oil Pipeline Companies, Producers Seek Relief From Steel Tariffs

More than 500 requests made for exemptions; most steel used in U.S. pipeline construction is imported.

June 19, 2018

Service & Supply

Drillinginfo Acquires 1Derrick, PLS Research And Database Business

Austin, Texas-based Drillingingo said it expects the acquisition of 1Derrick and PLS' research and database business to expand its market analysis and deal valuation products.

June 13, 2018

Podcast: DUG Technology, Ep. 1 — Big Data Delivers

In this first episode of the DUG Technology podcast, we dive deep into the opportunities big data presents to shale players.

June 12, 2018

Canadian Drilling Firms Akita, Xtreme To Merge

The combined company will operate under the Akita name and have a fleet of 44 high-spec drilling rigs with operations in several major resource basins in the U.S. and Canada.

June 11, 2018

Tracking Sand: Miners Talk Permian Proppant

Frack sand suppliers are racing to fill growing sand needs and address logistical concerns in the Permian Basin.

June 8, 2018