CBP On the Market

Exxon Explores ~$1.B Sale of Conventional Permian Basin Assets; Go Long: Exxon, EOG Extend Permian Laterals, Lead US Onshore Drilling; Exxon Sees 2050 Oil Use at Current Level, Despite Net Zero Goal; From Exxon to APA, E&Ps Feel Need to Scratch Exploration Itch

Author

Rob Quigley
August 28, 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 Explores ~$1.B Sale of Conventional Permian Basin Assets.

Exxon to Divest Permian Basin Assets

ExxonMobil is reportedly planning to sell a portion of its assets in the Permian Basin, according to Bloomberg Law. The move is part of the company's strategy to streamline operations and focus on more lucrative investments. The Permian Basin, a major oil-producing region in the U.S., has been a significant part of Exxon’s portfolio, but the sale indicates a shift in its business priorities.

www.reuters.com/business/energy/exxon-sell-some-permian-assets-bloomberg-law-reports-2024-08-27

Go Long: Exxon, EOG Extend Permian Laterals, Lead US Onshore Drilling.(Hart Energy)

Exxon Sees 2050 Oil Use at Current Level, Despite Net Zero Goal.(Rigzone.com)

From Exxon to APA, E&Ps Feel Need to Scratch Exploration Itch.(Hart Energy)

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

  • Enverus releases inaugural rankings of top US drillers.(Enverus)

  • Go Long: Exxon, EOG Extend Permian Laterals, Lead US Onshore Drilling.(Hart Energy)

  • Exxon Sees 2050 Oil Use at Current Level, Despite Net Zero Goal.(Rigzone.com)

  • From Exxon to APA, E&Ps Feel Need to Scratch Exploration Itch.(Hart Energy)

  • Building a Better Non-op? Control the Purse Strings, Executives Say.(Hart Energy)

  • Permian Basin rig counts grow, led by Lea County.(PB Oil & Gas Magazine)

  • Mexico appoints new Pemex CEO to revive oil and gas production.(World Oil)

Deal Flow

M&A/Investment

  • Exxon Explores ~$1.B Sale of Conventional Permian Basin Assets.(Reuters)

  • Texas Pacific Land acquires minerals/surface acreage for $169MM of Permian Acreage.(Hart Energy)

  • Granite Ridge increases drilling in Delaware and Midland Basins.(PB Oil & Gas Magazine)

  • Woodside nears completion of a $900MM acquisition of Tellurian.(Hart Energy)

  • Harbour Energy to close its $1.12B deal with Wintershall DEA ahead of schedule.(Hart Energy)

  • Hibiscus Petroleum to acquire a stake in Malaysia/Vietnam PSC.(Rigzone)

IPO/Direct Listing/Issuances/Block Trades

  • Pieridae announces $30 million equity rights offering with a $25 million standby commitment.(BOE Report)

Our firm has been in the business of appraising oil and gas assets for nearly 30 years. We have always prioritized customer service, and we fully understand the technical and financial importance of our reports for numerous stakeholder groups. We are here to provide clear and accurate analysis that supports reserves and valuations you can trust.

Stan S. Valdez, P.E. President

Only the Finest, Refined Memes:

Meme of the Day: #3

Meme of the Day: #2

Meme of the Day: #1