March 2018

Cover Story

Private-equity sponsors are seeing opportunities to invest in oil and gas, but exits are becoming increasingly complex.


While 2017 A&D got away from E&Ps, higher oil prices and tax breaks bode well for 2018. But will private equity steal the deal where public-equity investors fear to tread?

Global crude oil and condensate production in fourth-quarter 2017 was about 76.6 million barrels per day (MMbbl/d), a 370,000-bbl/d drop compared with third-quarter 2017.

The Marcellus-Utica regions have tremendous natural gas potential as well as regulatory and stability challenges.

The game remains the same for drilling joint ventures in the oil and gas industry—only the players have changed, energy lawyer from Gibson, Dunn & Crutcher says.

Analysts expect slow industry responses to the U.S. Department of Interior’s mega U.S. oil and gas lease sale proposal.

Triple Double Advisors examines Saudi Aramco’s pending IPO, which is expected to value the energy giant at up to $2 trillion. Is it worth this?

Bolt-ons and acreage trades are positioning E&Ps to grow production in Wattenberg Field. One obstacle, midstream constraints, should fall later in 2018.

Ted Collins Jr.’s closest partners remember his integrity, his friendship and his eagerness to do a deal.

A&D Trends

At the crossroads of the Merge, Stack and Scoop plays, Roan Resources LLC is being built with plans to go public, likely later this year.

At Closing

We recently attended the 25th annual edition of NAPE in Houston, which was a bigger affair than in 2016 or 2017—and certainly this time around, the aisles were full of people in a more upbeat mood.

Bright Spots

Colte Koen’s entrepreneurial spirit led him into the oil and gas industry in 2014.

E&P Momentum

Close counts in horseshoes, hand grenades—and for “good enough” in oil and gas.

From the Editor-in-Chief

Energy research analyst David Deckelbaum likened the recent crude rally following several years of living below the per-barrel poverty line to the anticipation of an all-you-can-eat buffet.

On the Money

By the time you read this, you’ll likely know whether E&Ps—in the face of swooning global equity markets in early February—used this earnings season to woo new investors and bolster E&P stock valuations that trailed moves in crude prices for much of last year.