This week, two major U.S. shale acquisitions were officially announced when ConocoPhillips announced their acquisition of Concho Resources and Pioneer Natural Resources announced their agreement to acquire Parsley Energy. The Pioneer all-stock transaction valued at $4.5 Billion (inclusive of Parsley’s debt increases the value to $7.6 Billion) is significantly less than the all-stock transaction of the ConocoPhillips deal valued at $9.7 Billion (inclusive of Concho’s debt increases the value to $13.3 Billion) but is significant nonetheless. Major moves in the U.S. oil and gas sector indicate that consolidation is the future.
In this week’s episode of the Periodical Podcast, your hosts Kevin and Tavis reveal that falling oil prices and a
Falling oil prices and a surge in green energy policies have breathed new life into an old idea: to nationalize the fossil fuel industry. The problem is, nationalizing oil and gas would be a radical step, and alone it would not be enough to deliver a comprehensive energy transition that can meet climate goals as well as the social objectives of the Green New Deal. While calls have been made to nationalize oil and gas development in the U.S., the inefficiency of government oversight cannot do a better job than private enterprise at developing and managing these natural resources.
A wild week in oil news saw some of the world’s top analytics firms’ predictions on the future of the oil and gas industry in the United States be overshadowed by the possibility of a massive merger between two shale powerhouses and approval of an expansion for the Dakota Access Pipeline. As temperatures begin to cool off into the winter season, election season is causing the oil industry to heat up.
Neel Duncan is a senior project development and asset management executive at Integrated Petroleum Technologies. Between working for large E&P