Signals coming out of major shale basins in 2019 were mixed. Concerns over cash flow, renewed focus on capital discipline, and lowered production outlooks spurred U.S. upstream and OFS companies to circle the wagons. According to Deloitte, last year saw significant consolidation, with Callon acquiring Carrizo for $2.7 billion (Delaware and Eagle Ford Basins), Parsley acquiring Jagged Peak for $2.3 billion (Delaware Basin), and Citizen Energy acquiring Roan Resources for $1 billion (SCOOP/STACK), among others. The oilfield services sector was less active, yet Keane merged with C&J Energy Services in a $724 million deal in June, creating NexTier Oilfield Solutions.
In the first quarter of 2020, the coronavirus crisis was exacerbated by record-setting price declines for crude oil. More interest in consolidation seems likely as capital markets refuse to thaw and topline U.S. production growth shifts from meteoric to modest. Independents are not the only ones to watch, as the Majors have indicated appetite for shale assets remains at the right price. If the shale industry remains stressed, the price may well be right.
Will this trend continue in 2020? Oil and Gas Investor’s A&D Strategies & Opportunities Conference will reflect on recent deal activity, explore the impact of reduced trade flows and commodity prices, and offer predictions for what lies ahead.
Dive into challenges facing producers today. As the market evolves, global considerations are relevant, yet day-to-day operations remain foremost concerns.
Understand how today’s technology is driving new approaches at each stage of development. Get ideas on how to steer your company through complex shifts in regulations and technology.
Interact with industry leaders and technical peers. Gain firsthand insight from those facing challenges similar to yours and meet face to face with subject matter experts.
The Hart Energy Advantage
Hart Energy is the leading information provider for businesses focused on U.S. shale activity. We equip executive suite leaders with indispensable insight on today’s challenges and the near-future outlook. Our speakers represent both private and public companies leading, financing and enabling North America’s shale revolution and the globalization of natural gas markets. Houston-based Hart Energy produces the Oil and Gas Investor, E&P and Midstream Business media platforms and an complementary array of online news and data services, as well as leading industry conferences (like the DUG™ series), GIS data sets and mapping solutions; and a growing number of online services.