Eagle Ford

U.S. Oil, Natural Gas M&A Slows in 2022 as Megadeals Dominate

U.S. Oil, Natural Gas M&A Slows in 2022 as Megadeals Dominate

Mergers and acquisitions (M&A) within the U.S. upstream fell to their lowest annual volume in nearly two decades last year, according to new research by Enverus Intelligence Research (EIR). Exploration and production (E&P) firms recorded 160 transactions valued at $58 billion total, the Enverus subsidiary found. This is the lowest number of deals since 2005.…

January 26, 2023
Sitio, Brigham Complete $4.8B Merger to Form U.S. Mineral, Royalties Giant

Sitio, Brigham Complete $4.8B Merger to Form U.S. Mineral, Royalties Giant

Minerals firm Sitio Royalties Corp. closed the books on a successful merger with Brigham Minerals Inc., combining “two of the largest public companies in the mineral and royalty sector,” the companies said. The $4.8 billion all-stock transaction has added 15,000 boe/d of oil-weighted pro forma production to Denver-based Sitio’s portfolio, which now stands at about…

December 30, 2022
Oil, Natural Gas Permitting Tick Up in Rockies as Permian, Marcellus Dip

Oil, Natural Gas Permitting Tick Up in Rockies as Permian, Marcellus Dip

Oil and natural gas permitting in the Lower 48 slowed down sequentially in October, although the monthly permit count was up on both a year/year basis and when compared to pre-Covid October 2019 numbers, Evercore ISI data show. Operators filed a total of 3,308 permits last month, down 16% from September but up 25% versus…

November 21, 2022
Marathon Oil Nearly Doubling Eagle Ford Position with $3B Acquisition of Natural Gas, Condensate-Rich Assets

Marathon Oil Nearly Doubling Eagle Ford Position with $3B Acquisition of Natural Gas, Condensate-Rich Assets

Marathon Oil Corp. has entered a deal to acquire the natural gas and condensate-weighted Eagle Ford Shale assets of Ensign Natural Resources for $3 billion in cash. The assets span 130,000 net acres in South Texas’ Live Oak, Bee, Karnes and Dewitt counties across the condensate, wet gas and dry gas phase windows of the…

November 4, 2022
Chesapeake Aiming to Be Major Natural Gas Supplier in U.S. LNG Capacity Expansion

Chesapeake Aiming to Be Major Natural Gas Supplier in U.S. LNG Capacity Expansion

A revamped Chesapeake Energy Corp. continues streamlining its strategy around supplying natural gas to the Gulf Coast LNG corridor, executives said in an earnings call on Wednesday. The company sees a somewhat softer natural gas market in 2023, with no real structural demand growth until new export capacity comes online starting in 2024. “As export…

November 3, 2022
Lower 48 Oil, Natural Gas Permitting Slumps, but Up from Year Ago

Lower 48 Oil, Natural Gas Permitting Slumps, but Up from Year Ago

August natural gas and oil permitting across the Lower 48 reversed course from July, particularly in the Permian Basin, but activity still was higher than a year ago, according to data compiled by Evercore ISI. New well permitting declined in August by 3,106 month/month (m/m). Still, the tally last month was 27% higher than in…

September 19, 2022
Haynesville Continuing to Lead Natural Gas Production Growth in Latest EIA Projections

Haynesville Continuing to Lead Natural Gas Production Growth in Latest EIA Projections

Spearheaded by the Haynesville Shale, natural gas production from seven key U.S. onshore regions will approach 95 Bcf/d in October, according to the latest modeling from the Energy Information Administration (EIA). Combined output from the Haynesville — along with the Anadarko, Appalachian and Permian basins, as well as the Bakken, Eagle Ford and Niobrara formations…

September 12, 2022
Sitio, Brigham in $4.8B Merger to Create Largest Publicly Traded Mineral, Royalty Company

Sitio, Brigham in $4.8B Merger to Create Largest Publicly Traded Mineral, Royalty Company

Sitio Royalties Corp. and Brigham Minerals Inc. said Tuesday they have agreed to merge in a roughly $4.8 billion, all-stock transaction. The combined firm would be the largest publicly traded mineral and royalty company in the United States, according to Sitio and Brigham. The plan is to focus on industry consolidation across diverse operators and…

September 6, 2022
U.S. Ethane Production Seen Climbing 16% in 2022, Says EIA

U.S. Ethane Production Seen Climbing 16% in 2022, Says EIA

Production of ethane, a natural gas liquid (NGL), should grow by about 9% in the United States during the second half of 2022 compared to first-half levels, according to an Energy Information Administration (EIA) forecast. “Ethane is consumed almost exclusively as a feedstock in petrochemical plants known as steam crackers to produce ethylene, a precursor…

August 31, 2022
Callon Raising Natural Gas Price Exposure at HSC, Reducing Waha

Callon Raising Natural Gas Price Exposure at HSC, Reducing Waha

Recent Permian Basin natural gas pipeline marketing deals will reduce Callon Petroleum Corp.’s reliance on Waha Hub pricing, management of the Texas-focused independent said earlier this month. “These transactions will increase our pricing exposure to Gulf Coast gas pricing and provide additional flow assurance benefits,” CEO Joe Gatto told analysts during the second quarter earnings…

August 25, 2022
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