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Oil and gas mergers

Oil and gas mergers total $250 billion in just 12 months

Are you updated with the latest Oil and gas mergers? We have been in the habit of somewhat cavalierly discussing things like the federal budget or U.S. debt in terms of trillions of dollars. In recent years, numbers are so enormous that they defy the human mind’s ability to comprehend them. One number jumps off the page of the latest quarterly review of oil and gas upstream mergers and acquisition activity from energy data and analysis firm Enverus Intelligence Research (EIR).

EIR finds that over the past 12 months, upstream consolidation deals have totaled to an unprecedented $250 billion. This equates to a quarter of a trillion. So, we haven’t reached $1 trillion, but the very fact this number can be reasonably expressed as a meaningful fraction of that level is somewhat astonishing. It shows just how intense this latest rush to consolidate and grow larger in America’s shale patch has been.

have you heard the $22.5 billion merger between oil giants ConocoPhillips and Marathon Oil? it is the most current quarter of April through June saw more than $30 billion in new deals transacted. Andrew Dittmar. The principal analyst at EIR, notes that upstream M&A activity has reached that level in just three previous quarters since EIR began tracking this information.

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Source: Forbes

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oil rig count

Oil rig count jumps as drilling activity picks up

The oil rig count of active drilling rigs for oil and gas in the United States rose this week, according to new data that Baker Hughes published on Friday.

The total rig count rose by 3 to 589 this week, compared to 664 rigs this same time last year.
The number of oil rigs rose by 5 this week, after falling by a single rig in the week prior. Oil rigs now stand at 482—down by 47 compared to this time last year. The number of gas rigs fell by 2 this week to 101, a loss of 27 active gas rigs from this time last year. Miscellaneous rigs stayed the same at 6.

Crude Oil Production

Meanwhile, U.S. crude oil production stayed the same for the week ending July 19. Current weekly oil production in the United States, according to the EIA, is now on par with the all-time high of 13.3 million bpd.

Primary Vision’s Frac Spread Count, an estimate of the number of crews completing wells that are unfinished, fell sharply in the week ending July 19, from 238 to 228—the lowest levels since June 2021.

Drilling activity in the Permian fell by 1 this week at 304, a figure that is 30 fewer than this same time last year. The count in the Eagle Ford rose by 1 this week, rising to 49 after climbing by 1 rig in the week prior. Rigs in the Eagle Ford are now 5 below where they were this time last year.
Oil prices were down sharply on Friday. At 1:00 p.m. ET, the WTI benchmark was trading down $1.19 (-1.52%) on the day at $77.09. The Brent benchmark was trading down $1.29 (-1.57%) on the day at $81.08.

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Source: Oil Price

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US oil and gas

US oil and gas drilling activity sees rebound

The total number of active drilling rigs for oil and gas in the United States rose this week. This is according to new data that Baker Hughes published on Friday.

The total rig count rose by 2 to 586 this week, compared to 669 rigs this same time last year.

The number of oil rigs fell by 1 this week, falling by a single rig in the week prior. Oil rigs now stand at 477—down by 53 compared to this time last year. The number of gas rigs rose by 3 this week to 103, a loss of 28 active gas rigs from this time last year. Miscellaneous rigs stayed the same at 6.

Meanwhile, U.S. crude oil production rose 1 million bpd to 13.3 million bpd for for the week ending July 12. Current weekly oil production in the United States, according to the EIA, is now on par with the all-time high of 13.3 million bpd.

Primary Vision’s Frac Spread Count

Primary Vision’s Frac Spread Count an estimate of the number of crews. It is completing wells that are unfinished, fell in the week ending July 12, from 242 to 238.

Drilling activity in the Permian stayed the same this week at 305. This is a figure that is 28 fewer than this same time last year. The count in the Eagle Ford rose by 1 this week, rising to 49 after falling by 1 rig in the week prior. Rigs in the Eagle Ford are now 8 below where they were this time last year.Oil prices were down sharply on Friday. At 1:10 p.m. ET, the WTI benchmark was trading down $2.13 (-2.57%) on the day at $80.69. The Brent benchmark was trading down $1.99 (-2.34%) on the day at $83.12.

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Source: Oil Price

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The Permian basin is projected to produce around $350B in gross product and provide around 1.2M jobs for the nation’s economy by 2050.

Permian basin contributes over $100 billion, 800,000 jobs on leading US oil and gas production

The Permian basin continues to grow rapidly. It reflects the region’s importance as an economic powerhouse for Texas, New Mexico, and the country.

This year’s Economic Report from the Permian Strategic Partnership (PSP) highlights the region’s essential role in supporting critical government functions. These include road improvements, public schools and teachers, police and fire departments, community hospitals, and universities.

The report also emphasizes the area’s status as the second lowest producer of CO2 emissions per barrel of oil. This is equivalent among the major onshore producing basins worldwide.

As a world leader in oil production, the Permian basin is projected to produce around $350 billion in gross product. It provide around 1,200,000 jobs for the nation’s economy by 2050.

“The Permian basin provides indispensable resources to energy security, making significant contributions to our nation’s robust economy every year,” said Don Evans, Permian Strategic Partnership Chairman.

“As the world’s largest secure energy supply, our region is fundamental to our national, economic, and energy security. Texas and New Mexico can promote further growth and support the American economy in collaboration with the energy industry through investment and expansion of our region’s infrastructure.”

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Source: Oil & Gas 360

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BP's latest energy outlook forecasts oil demand to peak in 2025, but the decline will be gradual, with consumption remaining high in 2035.

Oil and gas Stays and Are here to stay

The energy transition is showing signs of losing momentum over the past few months. EV sales are slowing, wind and solar capacity additions are not expanding fast enough, and electricity is getting more instead of less expensive. But experts still believe that Oil and gas Stays!

With those signs, others have been flashing red, too. Despite the push against oil and gas, these are here to stay for the long haul—and demand won’t even decline that much after peaking, according to the latest energy outlook of BP.

The supermajor, which used to compile the Statistical Review of World Energy, now does its own review. And according to its latest edition, oil demand will peak next year. And it’s not the first time it’s called the peak for oil demand.

Statistical Review

The last time its statistical review said that demand growth had peaked—in 2019—it turned out to be very wrong. In reality, oil demand soared after the end of the pandemic lockdowns to reach new all-time highs.

Now, BP has noted that over the past five years, oil demand has been growing at an average of half a million barrels daily since 2019, but that is about to end, with demand on the decline over the next couple of decades. But here’s the thing. Before, BP forecast that this decline would be quite substantial. Now, it expects that in 2035, the world will still consume 97.8 million barrels of oil per day in 2035, which would be a relatively minor decline from the current rate of consumption, which is about 100 million barrels daily, which may rise above that this year if demand strengthens in the second half.

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Source: Oil Price

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Oil prices rise

Oil prices rise as inflation eases, bolstering market hopes for Fed rate cut later this year

KEY POINTS ON OIL PRICES RISE:
-Crude oil futures climbed on Thursday, getting a lift from cooling inflation data.
-The consumer price index fell 0.1% in June from the prior month, bringing the 12-month rate to 3%.
-The inflation data bolstered hopes for interest rate cuts from the Federal Reserve in September. Lower rates stimulate economic growth, which can boost demand for oil.

Crude oil futures rose Thursday as inflation eased. It is bolstering hopes that the Federal Reserve will cut interest rates later this year.

Inflation as measured by the consumer price index dropped 0.1% from May to June. It is putting the 12-month rate at 3%, near the lowest level in more than three years, according to the U.S. Department of Labor.

The market is expecting the Federal Reserve to start cutting interest rates in September. Lower interest rates typically stimulate economic growth, which can bolster crude oil demand.

The inflation and interest rate outlook overshadowed mixed signals on oil demand for this year. The Paris-based International Energy Agency said global demand growth eased to 710,000 barrels per day year on year in the second quarter, the slowest increase since the fourth quarter of 2022, as consumption in China contracted.

The IEA is forecasting global oil demand growth will average just under one million barrels per day in 2024 due to subpar economic growth, greater energy efficiency and electric vehicle adoption.

OPEC, on the other hand, is much more bullish, forecasting demand growth of 2.2 million barrels per day as the cartel sees solid economic growth of 2.9% this year.

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Source: CNBC – Trusted Resource

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Future of mineral rights

Future of mineral rights post-pandemic: An analysis

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DISCLAIMER: We are not financial advisors. The content on this website related to the future of mineral rights is for educational purposes only and merely cites our own personal opinions. In order to make the best financial decision that suits your own needs, you must conduct your own research and seek the advice of a licensed financial advisor if necessary. Know that all investments involve some form of risk and there is no guarantee that you will be successful in making, saving, or investing money; nor is there any guarantee that you won’t experience any loss when investing. Always remember to make smart decisions and do your own research!

The COVID-19 pandemic has brought unprecedented challenges to various industries, including the mineral rights sector. As the world gradually emerges from the crisis, it’s essential to analyze the implications for mineral rights holders and stakeholders. This comprehensive examination delves into the future of mineral rights post-pandemic, exploring shifts in demand, regulatory changes, and strategies for adaptation.

The pandemic’s impact on the mineral rights industry has been multifaceted, influencing global demand, market dynamics, and regulatory frameworks. Understanding these changes is crucial for navigating the post-pandemic landscape effectively.

Market Trends

One of the key factors shaping the future of mineral rights is evolving market trends. The pandemic disrupted supply chains, leading to fluctuations in demand for various minerals. While some sectors experienced downturns, others, such as renewable energy and technology, witnessed increased demand. Analyzing these trends can help mineral rights holders identify emerging opportunities and adjust their strategies accordingly.

Technological Advancements

Advancements in technology continue to reshape the mineral rights landscape, with innovations in extraction techniques, data analytics, and environmental monitoring. Post-pandemic, there is likely to be a greater emphasis on sustainable practices and efficient resource utilization. Mineral rights holders must stay abreast of these developments to remain competitive in the evolving industry.

Environmental Considerations

The pandemic highlighted the interconnectedness of human health, environmental sustainability, and resource extraction. As governments and organizations prioritize environmental conservation and climate action, mineral rights holders face heightened scrutiny and regulatory pressure. Adapting to these changing norms requires proactive measures, such as adopting eco-friendly practices and engaging in stakeholder dialogue.

Regulatory Outlook

Post-pandemic regulatory changes are inevitable as governments reassess their policies in light of evolving priorities and challenges. From permitting processes to taxation policies, mineral rights holders must anticipate regulatory shifts and ensure compliance to mitigate risks and maintain operational continuity.

Community Engagement

Community relations have become increasingly important for mineral rights holders, particularly in the wake of the pandemic. Engaging with local communities, addressing concerns, and fostering mutually beneficial partnerships can enhance social license to operate and mitigate conflicts. Post-pandemic, proactive community engagement will be integral to the sustainable development of mineral resources.

Investment Strategies

Navigating the post-pandemic mineral rights landscape requires strategic investment decisions informed by market insights, regulatory analysis, and risk assessment. From diversifying portfolios to exploring emerging markets, mineral rights holders must adopt a forward-thinking approach to maximize returns and mitigate volatility.

The future of mineral rights post-pandemic is marked by uncertainty, yet brimming with opportunities for those willing to adapt and innovate. By staying abreast of market trends, embracing technological advancements, prioritizing environmental sustainability, and fostering positive community relations, mineral rights holders can navigate the evolving landscape with confidence and resilience. As the world rebuilds and recovers, the mineral rights sector remains a cornerstone of economic growth and development, poised to play a pivotal role in shaping the future of resource extraction.

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Quantum Capital to acquire Caerus Oil and Gas in $1.8bn deal

Quantum Capital to acquire Caerus Oil and Gas in $1.8bn deal

US-based private equity firm Quantum Capital Group has recently finalized an acquisition deal. It is with Caerus Oil and Gas, a prominent energy company. They are operating in the Rocky Mountain region. The agreement, valued at $1.8 billion, marks a significant move in the energy sector. It underscores Quantum Capital’s strategic expansion plans. According to reports from Bloomberg, sources have confirmed the successful acquisition. It involves Quantum Capital purchasing Caerus from its existing investors. Moreover, it includes Oaktree Capital Management, Anschutz Investment Company, and Old Ironsides Energy.

The transaction has garnered attention in the industry, and representatives from Quantum Capital and Caerus have refrained from offering official comments on the matter. The news has sparked curiosity and speculation among industry experts and stakeholders. This is as the acquisition signals a potential shift in ownership dynamics within the energy market. Despite requests for clarification, parties involved in the deal, including Oaktree Capital Management, Anschutz Investment Company, and Old Ironsides Energy, have chosen to remain tight-lipped, leaving room for anticipation and analysis within the investment community.

Caerus currently operates more than 7,400 wells across the Piceance Basin in Colorado and Uinta Basin in Utah.

The company also has related infrastructure including more than 3,862km of gas and water pipelines, as well as numerous water treatment and storage facilities.

“Quantum Capital to acquire Caerus Oil and Gas in $1.8bn deal ” was originally created and published by Offshore Technology, a GlobalData owned brand.

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Source: yahoo!finance

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family oil companies

Family oil companies attract huge M&A attention

Since its initial exploration and development over a century ago, the Permian Basin continues to showcase its enduring value and potential. As the largest resource basin in America, the Permian Basin remains a sought-after location for operators looking to establish a strong foothold in the industry. Amidst this competitive landscape, many operators are now turning their attention to the long-standing families who have been integral to the Permian’s growth since its inception.

Today, family-owned oil and gas companies have emerged as particularly attractive prospects for mergers and acquisitions within the basin. This trend follows a historical pattern of consolidation in the industry, making these companies highly coveted assets for larger operators seeking to expand their presence in the Permian Basin. Despite the shifting dynamics of the industry, the legacy of these families and their enduring contributions to the development of the Permian Basin remain key factors in shaping its future trajectory.

Family Owned Oil and Gas Companies

In recent years, the Permian Basin has witnessed a notable surge in mergers and acquisitions involving family-owned oil and gas companies. This trend can be attributed to the strategic appeal of these entities as sought-after assets within the basin’s landscape. With a historical backdrop of industry consolidation, these family-owned companies have become prime targets for larger operators aiming to bolster their footprint and operational capabilities in the Permian Basin. The allure of these acquisitions lies not only in the potential for expanded production and market share but also in the opportunity to inherit the legacy and expertise that these families have cultivated over generations.

Despite the evolving dynamics of the oil and gas sector, the enduring contributions and legacies of these families continue to play a pivotal role in shaping the future trajectory of the Permian Basin. Their deep-rooted ties to the region, longstanding relationships with stakeholders, and wealth of industry knowledge have established them as integral components of the basin’s ecosystem. As such, the preservation and integration of these family-owned entities into larger corporate structures represent a delicate balance between honoring tradition and embracing innovation in the pursuit of sustainable growth and development in the Permian Basin. With each merger or acquisition, the industry landscape evolves, reflecting a blend of the old guard and the new players striving to navigate the complexities of the energy market.

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Source: HARTENERGY

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supply concerns

Supply concerns and demand optimism are boosting oil prices

Oil prices surged this week as hurricane season began, demand improved, and both U.S. crude and gasoline inventories fell. This triggers supply concerns. Rising geopolitical risk around the world only added to bullish sentiment.

Friday, June 21, 2024

The onset of hurricane season in the US is improving demand figures. It is corroborated by shrinking crude and product inventories. It is becoming more visible Chinese buying have come together to lift oil prices to their highest since early May. The market was also reminded of the dysfunctional Red Sea navigation with the Houthis sinking another bulker this week, adding upward pressure to oil prices.

Chevron-Hess Merger Stalled by Arbitrage Delays.

Three months have passed since the case for a contract arbitration panel on Chevron’s planned takeover of Hess’ Guyana assets was filed. Still, there is no final arbitrator selected, delaying the $53 billion merger.

Alberto Becomes the New Scare for the Gulf. 

A storm system has made landfall in Mexico’s northeast regions. It is becoming the first named tropical storm of the 2024 Atlantic hurricane season, with Tropical Storm Alberto bringing heavy rains that disrupted lightering operations in Corpus Christi and Beaumont.

Here Comes the New PE-Backed Gas Giant.

US private equity giant Carlyle Group (NASDAQ:CG) will form a new Mediterranean-focused oil and gas company after purchasing Energean’s (LON:ENOG) assets in Italy, Croatia, and Egypt for $945 million, naming former BP boss Tony Hayward as its new CEO.

Europe Approves 14th Russia Sanctions Package.

The European Union approved a 14th package of sanctions against Russia that bans re-exports of Russian LNG in the EU, however steering clear of banning LNG imports per se, whilst also blocking any financing for Russia’s planned Arctic and Baltic LNG terminals.

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Source: Oil Price

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