Ovintiv: We'd Like SM-Uinta Multiples, Please

Ovintiv looks to sell Uinta Basin assets for $2B, refocusing on the Permian; Enterprise buys Pinon Midstream for $950M in major Permian expansion; Halliburton hit by cyberattack affecting operations; source confirms incident; The story of Northern Oil and their red hot M&A streak.

Author

Assistant Quigley
August 22, 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:

Ovintiv explores a $2 billion sale of Uinta Basin assets, narrowing its focus on the lucrative Permian Basin.

Ovintiv explores $2 billion Uinta basin business sale to focus on Permian shale operations

Ovintiv’s operations in the Central basin of Utah involves drilling in about 2,600 feet of oil saturated reservoir rock, according to its website. The asset could attract interest from private equity-backed energy groups, the people said.

www.worldoil.com/news/2024/8/21/ovintiv-explores-2-billion-uinta-basin-business-sale-to-focus-on-permian-shale-operations

Enterprise buys Pinon Midstream for $950M in major Permian expansion.(ogj.com)

Halliburton hit by cyberattack affecting operations; source confirms incident. (boereport. com)

The story of Northern Oil and their red hot M&A streak.(startribune.com)

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

  • Halliburton hit by cyberattack affecting operations.(boereport.com)

  • OPEC has limited scope to restore oil output, BP economist says.(rigzone.com)

  • The story of Northern Oil and their red hot M&A streak.(startribune.com)

  • Avant Natural expands in North Delaware Avalon tests.(hartenergy.com)

  • Norway urges oil firms to increase exploration efforts.(oedigital.com)

  • Long Canadian rail strike could affect US NGLs, crude.(hartenergy.com)

  • Brazos Midstream advances gas processing in the Permian.(ogj.com)

  • US crude inventories fall by 4.6 million barrels, says EIA.(ogj.com)

  • Ghana starts building $12bn petroleum hub project.(offshore-technology.com)

  • Oil demand may top 110 MMbpd by 2050, predicts Enbridge CEO.(worldoil.com)

Deal Flow

M&A/Investment

  • Enterprise Products Partners to acquire Pinon Midstream for $950 million to expand its Permian operations.(ogj.com)

  • Ovintiv considers selling its Uinta Basin business for $2 billion to focus on Permian operations.(worldoil.com)

  • Saudi Aramco grants a $2 billion contract for strategic offshore expansion, underscoring its growth strategy.(upstreamonline.com)

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