Page 2 - David Messler News Today

Despite a strong increase in shale oil production in 2023, lower prices in 2024 could bring about a sharp curtailment of drilling and a moderate reduction in completion activity in shale

The race among major players to acquire Crownrock LP, a Midland basin-focused private E&P with 100K acres and 150K BOEPD production, is heating up.

As merger-mania in the American shale patch continues to gain momentum, ConocoPhillips is now said to be considering an offer for Permian basin producer CrownRock LP

The latest oil and gas news, dedicated to all things oil and gas: people, technologies, transactions, trends, and macro-economic analysis that impact commodity prices.

Shale companies turn to mergers to address reserve replacement challenges, with Pioneer Natural Resources and Devon Energy leading the way.

As major oilfield service companies surge, smaller firms like ProFrac Holdings are poised for a significant market rebound, driven by shifting rig counts and strategic acquisitions.

Amid the consolidation phase in shale E&Ps, companies strategically merge and acquire to boost acreage profiles, optimize costs, and enhance Return-On-Invested-Capital, leading to a revitalized and more stable shale drilling industry.

Permian Basin oil production is declining due to the decline in quality acreage, indicating an upcoming inflection point in production and implications for investors.

ExxonMobils $4.9 billion acquisition of Denbury Resources marks a significant move into the profitable business of Carbon Capture and Underground Storage (CCUS).

Earthstone Energy is utilizing a strategic roll-up acquisition strategy to consolidate assets in the Delaware and Midland basins of the Permian, with the recent acquisition of Novo Oil and Gas Holdings significantly increasing their production and reserves.