Two Wells Coming Off Confidential List Today -- February 6, 2024

Locator: 46746B.

TSMC: to build a second semiconductor fabrication plant at its site in Kumamoto, Japan. To be in operation before the end of 2027. Partners: Sony, Denso, Toyota Motor. Link here.

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Back to the Bakken

WTI: $73.19.

Wednesday, February 7, 2024: 10 for the month; 69 for the quarter, 69 for the year
39536, conf, Hess, EN-Person A-156-94-1522H-4,
39155, conf, Hess, RS-F Armour 156-92-1224H-6,
38992, conf, Whiting, Bigfoot 42-26-26TFHU,

Tuesday, February 6, 2024: 7 for the month; 66 for the quarter, 66 for the year
38325, conf, EOG, Liberty LR 56-2320H,
38324, conf, EOG, Liberty LR 119-2320H,

RBN Energy: exploring the drivers of burgeoning upstream consolidation. 

Brutal arctic cold may have chilled broad swaths of the U.S. last month, but the scorching pace of upstream M&A activity continued to be red hot, with nearly $20 billion in deals announced in January after a record-setting 2023. Last year’s transaction value totaled an astounding $192 billion, a mark 79% higher than the previous 10-year high and more than the previous three years combined. Why the surge? A wide range of factors influenced corporate decisions to grow through acquisitions rather than organic investment, including commodity prices, equity values, debt levels, operating costs, and production trends. In today’s RBN blog, we’ll analyze M&A trends through several statistical lenses and provide some insights into 2024 activity.