Shale Has ‘Run Its Course'? Sheesh.

US Shale Revolution Has ‘Run Its Course,’ Quantum’s Wil VanLoh Says; FTC set to greenlight Chevron's $53 bln buy of oil rival Hess, sources say; Vital Energy and NOG close $1.1 billion acquisition of Delaware Basin's Point Energy assets; Texas sues Biden administration over lizard's endangered status, cites oil industry threat; BP seeks to divest more assets as part of its transition strategy.

Author

Rob Quigley
September 24, 2024

Good morning! What a quote from WVL: "The US shale revolution has ‘run its course'." Sheesh! After months of delays due to the FTC investigation and threats of litigation, the Chevron deal for Hess looks like it’s finally going to get done! Vital and NOG have completed their $1.1 billion acquisition of Point Energy Partners in Delaware. The State of Texas is suing the Biden administration over the 'lizard law,' which would significantly hamper oil and gas activities in the Permian Basin. Finally, BP is seeking to divest more assets as part of its broader energy transition strategy. Let’s drill down.

Daily Headlines

  • US Shale Revolution Has ‘Run Its Course,’ Quantum’s Wil VanLoh Says Bloomberg.

  • Texas sues Biden administration over lizard's endangered status, cites oil industry threat Reuters.

  • I Guess (They’d) Rather Be In Colorado - Upstream And Midstream Consolidation In The DJ Basin RBNenergy.

  • BP seeks to divest more assets as part of its transition strategy Bloomberg.

  • U.S. LNG export freeze boosts export growth in Canada and Mexico OilPrice.

  • Chevron's U.S. carbon capture project clears key regulatory hurdle Upstream Online.

  • SLB partners with NVIDIA to develop AI solutions for energy sector Oil and Gas 360.

  • EIA: Decline in natural gas price drove decrease in U.S. oil producer revenue in early 2024 EIA

  • PetroChina ramps up investment in natural gas exploration Bloomberg.

Deal Flow

M&A/Investment

  • FTC set to greenlight Chevron's $53 bln buy of oil rival Hess, sources say Reuters.

  • Vital Energy and NOG close $1.1 billion acquisition of Delaware Basin's Point Energy assets Hart Energy.

  • Kimmeridge to halve stake in Louisiana LNG project after FID, says CEO Naturalgasworld

  • Cresent Midstream selected for $1 billion CCS gas-fired power plant development by Entergy Hart Energy.

IPO/Direct Listing/Issuances/Block Trades

  • Diamondback Energy to sell $2.2 billion shares held by Endeavor stockholders Hart Energy.

  • Matador Resources offers $750 million senior notes following the Ameredev acquisition Hart Energy.

Fundraising

  • KKR raises $4.6 billion in debut North America mid-market deals fund Reuters.

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.

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