Good morning! Deals back in the news today. Coterra taking down Avant and Franklin Mountin in the Delaware for $4B. Aethon said they're exploring a sale, or an IPO, again.... Carnelian-backed Eagle Ford operator Ridgemar is marketing their asset for ~$1B after <12 months in possession. In the news it looks the Reublicans will retain control of the House to give Trump a unified government. And finally, Exxon announced their plans to cut ~400 Pioneer jobs, mostly in Midland and Dallas. Raise your glass to those in that process. Let's drill down.

Daily Headlines

• Republican sweep may fuel more U.S. oil and gas projects Financial Post$$$

• Exxon Plans to Cut Almost 400 Pioneer Jobs in Texas by 2026 Bloomberg

• Major data center to benefit from unique direct gas supply ENR

• Oil firms increase investment in advanced shale tech Google News

• Big players eye M&A opportunities in distressed energy assets Google News

• Analysts suggest oil prices could drop to $40 if OPEC unwinds production cuts, impacting global supply CNBC

• U.S. associated natural gas production increased nearly 8% in 2023 EIA$$$

• U.S. crude oil prices expected to stabilize at $60-80/bbl range BOE Report

Deal Flow

M&A/Investment

• Coterra Energy to acquire oil and gas assets for $3.95 billion, expanding its holdings in a strategic move BOE Report

• Aethon Energy considers options for its $10B U.S. natural gas assets amid market shifts Hart Energy$$$

• Ridgemar explores $1B+ sale of its U.S. oil production assets BOE Report

• ExxonMobil plans to sell certain Permian Basin assets to Hilcorp as part of its portfolio optimization Offshore Technology

Only the Finest, Refined Memes:

Meme of the Day: #3

Meme of the Day: #2

Meme of the Day: #1