WTI Continues To Drop As Hurricane Recedes -- Four Wells Coming Off Confidential List Today -- July 9, 2024

Locator: 48084INV.

WTI: $81.78.

Wednesday, July 10, 2024: 26 for the month; 26 for the quarter, 352 for the year
40299, conf, Whiting, Sanish Bay E Federal 5292 31-6 3B
40253, conf, CLR, Benner 5-7H,
39894, conf, Hess, EN-Madisyn-LE-154-94-0705H-10,

Tuesday, July 9, 2024: 23 for the month; 23 for the quarter, 349 for the year
40252, conf, CLR, Benner 4-7H,
39964, conf, Petroshale, Primus 1TFH,
39527, conf, Petro-Hunt, Burian 144-98-15B-22-2H,
39427, conf, Hunt, Blue Ridge 159-100-5-8H 3, 

RBN Energy: EOG's focus on organic growth stands out amid E&P consolidation wave. Archived.

While many larger E&Ps have been growing bigger through massive, headline-grabbing acquisitions, EOG Resources — by market cap, the second-largest non-integrated U.S. producer — has been expanding for a quarter century now by focusing on the stealthy exploration and development of new resource plays. The results of EOG’s long-standing strategy have been impressive, and include finding and development (F&D) costs that are significantly lower than its Oil-Weighted peer group and a higher-than-average reserve replacement rate. In today’s RBN blog, we analyze the scope and impact of EOG’s singular focus on organic growth instead of M&A. 

 A few weeks ago we discussed ConocoPhillips’s planned $22.5 billion purchase of Marathon Oil and noted that the big-money deals closing this year may well set an all-time record — surpassing an extraordinary 2023. Already in 2024, ExxonMobil closed (in May) on its $60 billion purchase of Pioneer Natural Resources, and a long list of other deals — Chevron’s planned $53.5 billion acquisition of Hess Corp., Occidental Petroleum’s $12 billion buyout of privately held CrownRock, Chesapeake Energy’s $11.5 billion purchase of fellow gas producer Southwestern Energy and Diamondback Energy’s planned $26 billion acquisition of Endeavor Energy Resources — are expected to close over the next few months.