The $1T Play That Almsot Wasn't

The story of how Exxon almost walked away from its $1 trillion Guyana oil discovery; New Permian natgas pipeline hits FID; Rising Phoenix expands with DJ Basin deal; Natural gas leads US electricity generation.

Author

Rob Quigley
August 02, 2024

by VSO Petroleum Consultants. Oil and Gas industry news for those in the deal flow (Investors and A&D Professionals). Your daily source for the latest A&D/M&A news, industry news, and expert interviews.

First Things First:

Exxon almost walked away from its $1 trillion Guyana oil discovery.

Exxon Nearly Abandoned $1 Trillion Guyana Oil Discovery

ExxonMobil almost decided against pursuing its major oil discovery in Guyana, which is now valued at nearly $1 trillion. It explores the strategic and financial considerations that nearly led to abandoning the project and discusses the potential impact of this discovery on both ExxonMobil and the global oil market.

www.bloomberg.com/news/features/2024-08-01/exxon-almost-walked-away-from-1-trillion-guyana-oil-discovery

Rising Phoenix expands with DJ Basin deal. (Hart Energy)

New Permian natgas pipeline hits FID. (Hart Energy)

Natural gas leads US electricity generation. (OilPrice)

VSO is the go-to consulting firm for buy-side technical due diligence. We can handle all your technical evaluations or can be your spare capacity when you need overflow help. If you’re in the deal flow, let’s work together.

Daily Headlines

  • Exxon almost walked away from its $1 trillion Guyana oil discovery.(Bloomberg)

  • New Permian natgas pipeline hits FID.(Hart Energy)

  • APA ramps Permian activity to boost US oil.(Hart Energy)

  • Crescent and SilverBow form bigger Eagle Ford player.(World Oil)

  • US boosts oil reserve buys to 40M barrels.(Rigzone)

  • Natural gas leads US electricity generation.(OilPrice)

  • SLB, Aker win Gulf Coast carbon capture project.(World Oil)

  • Large barrels found in Ohio’s Utica play.(Hart Energy)

  • Ex-Glencore trader charged with corruption(Guardian)

  • Trafigura's top US oil traders depart(Rigzone)

Deal Flow

M&A/Investment

  • Rising Phoenix expands with D-J Basin deal.(Hart Energy)

  • Viaro Energy acquires Shell, Exxon’s North Sea assets.(Hart Energy)

  • Occidental completes $1.2B CrownRock acquisition.(Hart Energy)

  • Apollo completes $1.85B US Silica acquisition.(Hart Energy)

  • Canada postpones Trans Mountain divestment to 2025.(Pipeline Journal)

IPO/Direct Listing/Issuances/Block Trades

  • No deals to include.

Debt

  • No deals to include.

SPAC

  • No deals to include.

Bankruptcy/Restructuring/Distressed

  • No deals to include.

Fundraising

  • No deals to include.

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