Harold Hamm: prognostication. Think about that when looking at note below.
- predicts 19% jump in US oil prices within six months
- regardless of what happens in the Mideast
- only says "tightening supplies"
- he didn't mention "right kind of oil"
- he didn't mention recent stories about global demand for US light, sweet oil
- WPX, Oklahoma-based, focuses on the Bakken and the Permian
- Felix Energy, Denver-based
- WPX specifically interested in Felix's acreage in Texas' Loving, Winkler, and Ward counties in Texas near the New Mexico border; part of the core region of the Permian, Delaware Basin
- price: $900 million in cash; $1.6 billion in WPX stock;
- Other deals possible:
- buyers:
- EOG, COP, Pioneer Natural Resources, Noble Energy, Devon Enery, FANG
- maybe XOM, Chevron, Shell
- lesser extent: BP, Total
- could be acquired:
- WPX
- Callon Petroleum, which just merged with Carrizo
- Parsley Energy (part of the 2019 deal scene -- all stock merger between Parsley and Jagged Peak Energy Inc)
- Cimarex Energy
- Centennial Resource Development
- Laredo Petroleum
- Lots of talk:
- XOM - EOG ($51 billion, $88.80)
- EOG - Laredo
- Barron's suggests seven potential 2020 targets (market cap, recent share price):
- Laredo Petroleum
- Centennial Resource Development
- Matador Resources
- QEP Resources ($1.1 billion, $4.70)
- SM Energy ($1.4 billion, $12.10, recent jump in price)
- WPX Energy ($5.9 billion , $14.14)
- Halcon Resources (privately held)
- Four I didn't see mentioned:
- Whiting ($730 million, $8.00)
- Oasis ($1.2 billion, $3.60)
- Enerplus ($1.6 billion, $7.25)
- Encana($6.4 billion, $4.90)
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