October 2016

Cover Story

 A fledgling recovery is underway as E&P companies send a few rigs back to the field and put debt behind them. Here’s what the bulls and bears think.

From the Editor-in-Chief

Seasoned E&Ps are seizing unique opportunities to expand during the downturn.


Southern Delaware producer Centennial Resource Development Inc. dipped its toe in the IPO pool June 22, becoming the first U.S. upstream company to do so in two years.

E&Ps are tapping into a broader range of financing options—and at times on surprisingly attractive terms—to get deals done.

Operators report the potential for strong well economics by placing laterals in the legendary San Andres and other formations in this geologic thrust.

Bucking the notion that supermajors can’t keep up with independents in the resource plays, Shell has retooled its portfolio and its standards, and is now operating best-in-class wells across many parts of its core holdings.

Investor spotlights rising stars from E&P, A&D, Midstream, Finance and Consulting who will lead the industry into the future.

The most unconventional election in modern times nears the finish line.


These executives successfully managed the upturn to help their companies grow through the downcycle.

A&D Trends

Conventional wisdom keeps shouting the same two names: Permian and Stack.

Bright Spots

Lance Turner has been a lynchpin in FTS International’s financial strategy.

At Closing

E&Ps’ skill at high-grading drilling and cutting costs is setting them up for a slower recovery.

E&P Momentum

The recovery looks like a lower case “w,” the predominant pattern for markets in chronic oversupply.

On the Money

Like the guest who stays too long, crude oil inventories are frustrating investors.