Four Wells Coming Off Confidential List; WTI At $93 -- February 14, 2022

Active rigs:

$93.02	2/14/2022	02/14/2021	02/14/2020	02/14/2019	02/14/2018
Active Rigs	33	15	56	65	57

Monday, February 14, 2022: 29 for the month, 84 for the quarter, 84 for the year

• 34067, conf, Enerplus, Cobweb 149-92-32D-29H, Heart Butte, first production, 8/21; t--; cum 66K 12/21;
• 34065, conf, Enerplus, Tarantula 149-92-32C-29H, Heart Butte, first production, 8/21; t--; cum 132K 12/21;

Sunday, February 13, 2022: 27 for the month, 82 for the quarter, 82 for the year

• 36581, conf, CLR, Pasadena Federal 12-11H1, Banks, first production, 9/21; t--; cum 68K 12/21;

Saturday, February 12, 2022: 26 for the month, 81 for the quarter, 81 for the year

• 36580, conf, CLR, Pasadena Federal 13-11HSL, Banks, first production, 9/21; t--; cum 121K 12/21;

RBN Energy: smaller, crude-oil-focused producers are on a buying spree. Archived.

Multibillion-dollar mergers and acquisitions have attracted a lot of attention the past couple of years. Chevron buys Noble. ConocoPhillips acquires Concho. Cabot merges with Cimarex. Pioneer adds Parsley and DoublePoint. While it’s understandable that these mega-deals grab the spotlight, they tend to overshadow the many smaller-but-still-substantial agreements being announced at a rapid pace over the same period. Many of these less-than-$4-billion deals involve crude-oil-focused producers expanding their holdings in basins where they were already active, and many — no surprise — are happening in the Permian, although acreage in the Denver-Julesburg and the Eagle Ford are in play as well. In today’s RBN blog, we look at a few of the more interesting small and midsize acquisitions announced recently.

The period since the COVID-related meltdown in crude oil prices in April 2020 has been marked by the most impactful wave of corporate consolidation among E&Ps since the turn of the century, when a plunge in oil prices spurred deals that helped to form many of today’s supermajors and large independents. The last round of big-ticket M&As isn’t about getting bigger for bigness’s sake. Instead, the common goals among the acquiring E&Ps have been to boost their inventories of high-margin assets, accelerate free cash flow generation, and grow shareholder returns while slashing capital and corporate expenditures.