At 44.1 MBOEPD, Endeavor Energy Resources is a private name which stands large in the Midland Basin The Permian Basin continues to be the hottest basin in the country, with companies piling in and investors willing to give them premium multiples. The play has become so desirable that general reading about the industry often feels like you’re sifting through “Permian
FourPoint Energy, LLC announced a new equity financing agreement and the closing of a strategic upstream and midstream acquisition in the Anadarko Basin. Quantum Energy Partners has agreed to invest $489 million in common equity in FourPoint, making it one of the largest unit holders. Existing equity holders have also invested an additional $36 million bringing the total of new
Texas dunes, HCLP provide answers Texas is the motherlode when it comes to decade after decade of oil and gas production in the U.S., and the Permian basin is widely considered to hold some of the best rock in the country for oil production from shale formations. In addition, the industry’s Permian operators are learning how to best optimize their
A report by the Federal Reserve Bank of Dallas indicated that, in May, employment in the Permian basin remained steady, hovering around 158,000 jobs since February. This comes following the period between mid-2014 and early-2016, when Permian employment dropped from approximately 180,000 to approximately 150,000 jobs. The unemployment rate itself decreased from 4.4% in April to 4.1% in May. From
Ameredev II, backed by a $400 million private equity commitment from EnCap, is currently in the process of building its core acreage in the northern Delaware basin in Lea County, New Mexico. The acreage itself rests along the state line. Ameredev is targeting to initiate production in its acreage in late 2017-early 2018, when it starts drilling delineation wells. In
Pioneer’s Scott Sheffield points to the Permian’s full potential, Cheniere CCO Anatol Feygin touts U.S. LNG export growth at the EIA 2017 Energy Conference It’s been an interesting week or two for U.S. energy on the world stage. The new administration’s pro-energy development posture has gone into overdrive. From energy-focused cabinet leaders mandating studies as to the need for new
With producing acreage in the Midland basin and Maverick basin, SM Energy (ticker: SM) is zoning in on its most lucrative acreage. SM holds approximately 88,000 net acres in the Midland basin and another approximately 167,000 net acres in the Maverick basin. SM closed the sale of non-operated assets within the Eagle Ford for $800 million gross. Venado EF L.P.
Raising our 2020 oil production target to 60,000 BOPD: Centennial CEO Mark Papa Denver’s Centennial Resource Development, Inc. (ticker: CDEV) said on Monday it is acquiring undeveloped acreage and producing oil and gas properties in the core of the Northern Delaware basin from privately held GMT Exploration for $350 million in cash. The acreage total in the acquisition comes to 11,860, all in Lea County, N.M. Pro-forma for
Parsley has full borrowing capacity available for Permian development Permian driller Parsley Energy (ticker: PE) said it has amended its revolving credit agreement, increasing the borrowing base by 60% to $1.4 billion, with a company-elected commitment amount of $1.0 billion. The amendment also adds five new lenders under the credit agreement: Canadian Imperial Bank of Commerce, New York Branch; Capital One, National Association; Citibank, N.A.; PNC Bank, National
Pipeline constraints limiting the value of Appalachian operators It’s a Wall Street quandary. It is no secret that the Permian has become the hottest play in the United States with E&Ps competing to acquire acreage, but the companies operating there may not always attract the most attractive multiples from investors. In January, EnerCom Analytics took an in-depth look at what
Pipeline will provide route to export Permian’s gas to Mexico and ship as LNG Kinder Morgan, Inc. (ticker: KMI) has announced the start of a non-binding open season for firm natural gas transportation service on its proposed Gulf Coast Express Pipeline Project, which will provide an outlet for increased natural gas production from the Permian Basin to growing markets along the
Marathon enters Permian for $13,900 per acre; exits oil sands with $2.5 billion cash sale to Shell and Canadian Natural Resources Marathon Oil (ticker: MRO) has agreed to acquire approximately 70,000 net surface acres in the Permian basin from BC Operating, Inc. and other entities for $1.1 billion in cash. The acquisition includes 51,500 acres in the Northern Delaware basin of
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