EUCI Blog

By Mark Jaffe, EUCI energy writer The U.S. shale oil and gas sector is poised for a “new wave of consolidation” among small- and medium-sized producers facing an increasingly competitive landscape, according to industry consultant Rystad Energy. “Scale and efficiency are key catalysts for exploration and production (E&P) players who are seeking favorable business valuations,…

By Mark Jaffe, EUCI energy writer While geopolitical risks tend to push up the price of oil, an increase in supply and global economic uncertainties has tamped down the price of oil to its lowest in nearly three years. Global petroleum inventories rose by an average of 1.8 million barrels a day in the second…

By Mark Jaffe, EUCI energy writer Oil and gas field mergers and acquisitions in 2024 reached $207 billion – a 331% year-over-year increase – as consolidation continued among the largest U.S. companies in the sector, according to Ernst & Young LLP. At the same time, some operators trimmed share buybacks and dividends to shareholders, and…

By Mark Jaffe, EUCI energy writer Growth in spending and production in the U.S. oil industry are projected to slow over the next few years, after a boom in drilling and capital spending between 2015 and 2024, according to an International Energy Agency (IEA) analysis. Upstream oil investments are on track to fall by nearly…

By Mark Jaffe, EUCI energy writer Upstream oil and gas mergers and acquisitions opened 2025 with $17 billion in deals, the second-best start since 2018, but it was largely powered by one company. Prospects for the rest of the year are uncertain, according to Enverus Intelligence Research. Diamondback Energy dominated the quarter with its $4.08…

By Mark Jaffe, EUCI energy writer The Trump administration’s goal of “energy dominance” and its mantra of “drill, baby, drill” have run into production limitations, economic uncertainty caused by the administration’s tariff policies, and increased output from OPEC+. In his first weeks in office, President Donald Trump issued executive orders to speed permitting, reduce regulations,…

By Mark Jaffe, EUCI energy writer New Mexico is seeing the country’s most rapid increase in oil and gas production – with an output of 2 million barrels a day in 2024 – more than double the 2019 amount, according to a Federal Reserve Bank of Dallas study. New Mexico shares the Permian Basin, the…

By Mark Jaffe, EUCI energy writer U.S. oil and gas upstream mergers and acquisitions reached $105 billion in 2024 – the third highest total in more than a decade – even as deals cratered in the second half of the year, according to Enverus Intelligence Research. In the fourth quarter of 2024, activity was $9.6…

Gulf of Mexico Oil, Gas Production Almost Fully Restored After Hurricane September 17, 2024 Gulf of Mexico oil and gas production is almost fully restored following hurricane Francine, a statement posted on the Bureau of Safety and Environmental Enforcement’s (BSEE) website on Monday revealed. In the statement, the BSEE noted that, from operator reports, it…

Exxon looks to sell non-core oil assets in the US Permian Basin August 27, 2024 Top U.S. oil company Exxon Mobil (XOM.N), opens new tab is looking to sell oil assets in the U.S. Permian Basin that could fetch $1 billion, Bloomberg Law reported on Tuesday. Exxon, which purchased Pioneer Natural Resources for $60 billion…

U.S. oil and gas M&A tops $30 billion for the third straight quarter Energize Weekly, August 7, 2024 Oil and gas mergers and acquisitions (M&A) in the second quarter of 2024 marked the third consecutive quarter of $30 billion or more in transactions, according to energy consultant Enverus Intelligence Research. Before this run, quarterly deals…

Energy companies win dismissal of Baltimore’s climate change case July 11, 2024 A Maryland judge on Thursday dismissed a lawsuit by the city of Baltimore seeking to hold energy giants such as Exxon Mobil(XOM.N), opens new tab, BP(BP.L), opens new tab and Chevron(CVX.N), opens new tab responsible for climate change, saying the case went beyond…