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Kimmeridge Bows Out
SilverBow wins; Kinder Morgan makes strategic Texas oilfield move.
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Oil and Gas industry news for A&D professionals. Your daily source for the latest A&D/M&A news, industry news, and expert interviews.
What Caught My Attention:
Kimmeridge Exits SilverBow Proxy Fight - Kimmeridge Energy's decision to exit its proxy battle with SilverBow Resources marks a significant turn in the energy sector's power dynamics. This move comes after SilverBow's recent $2.1B deal with Crescent. Hart Energy
Kinder Morgan's Texas Oilfield Play - "Kinder Morgan's latest carbon tax strategy in Texas oilfields is set to make waves." | Zachry Holdings Bankruptcy and Golden Pass LNG Lawsuit - "Zachry Holdings files for bankruptcy amid a high-stakes lawsuit with Golden Pass LNG." | Shell Abandons North Slope Oil Leases - "Shell pulls out of North Slope oil leases, raising questions about Alaska's energy future." |
Daily Headlines
Phillips 66 Expands Permian Natgas, NGL Network with Pinnacle Midstream Deal
Summary: "Phillips 66 bolsters its Permian footprint through the acquisition of Pinnacle Midstream." RBN Energy
Shell Abandons North Slope Oil Leases
Summary: "Shell exits its North Slope oil leases, sparking discussions on Alaska's energy future." Alaska Beacon
Citi Research Expects OPEC to Hold Output Cuts Through 3rd Quarter
Summary: "Citi Research predicts OPEC will maintain its production cuts through the third quarter of 2024." BOE Report
Zachry Holdings Files for Bankruptcy Amid Golden Pass LNG Lawsuit
Summary: "Zachry Holdings' bankruptcy filing follows a contentious lawsuit with Golden Pass LNG." Biz Journals
Why Oil May Regain Upward Momentum
Summary: "Market conditions suggest a potential upward trajectory for oil prices." OilPrice.com
U.S. Secures Critical Rare Earths Supply Chain by 2027
Summary: "The U.S. aims to secure its domestic rare earths supply chain by 2027 to reduce dependency on foreign sources." Oil and Gas 360
OPEC's Output Cuts Expected to Hold Through Q3
Summary: "Citi's latest analysis shows OPEC's output cuts are likely to continue through the third quarter." BOE Report
Shell Abandons North Slope Oil Leases
Summary: "Shell's withdrawal from North Slope oil leases raises questions about future energy projects in Alaska." Alaska Beacon
Oil Prices and Market Dynamics
Summary: "Current trends indicate a potential rise in oil prices due to various market factors." OilPrice.com
U.S. Oil and Gas Lease Sale in Montana and North Dakota Set for July
Summary: "The upcoming oil and gas lease sale in Montana and North Dakota scheduled for July 2024." NBC Montana
Deal Flow
M&A/Investment
Kimmeridge Exits SilverBow Proxy Fight
Summary: "Kimmeridge Energy ends its proxy battle with SilverBow Resources following the latter's $2.1B deal with Crescent." Hart Energy
Kinder Morgan Buys Texas Oilfield Carbon Tax Play
Summary: "Kinder Morgan acquires a Texas oilfield, positioning itself in a new carbon tax play." Hart Energy
IPO/Direct Listing/Issuances/Block Trades
None to report today.
Debt
None to report today.
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