TGIF -- August 16, 2024

Locator: 48432B.

Recession: back on the table. 

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Back to the Bakken

WTI: down a whopping 3% overnight -- now below $76 again, as peace breaks out in the Mideast.

Sunday, August 18, 2024: 45 for the month; 101 for the quarter, 427 for the year
40237, conf, WPX, Missouri River 25-26HC,
39902, conf, Liberty Resources, Alvin E 158-95-18-19-2MBH,
39795, conf, Enerplus, Sapphire 148-95-03B-10H,
39254, conf, Hess, SC-4WX-153-98-3130H-6,

Saturday, August 17, 2024: 41 for the month; 97 for the quarter, 423 for the year
40416, conf, Kraken, Fasching 15-22-27 4H,
40389, conf, WPX, Missouri River 25-26HW,
24360, conf, Grayson Mill, Knight 35-26 2H,

Friday, August16, 2024: 38 for the month; 94 for the quarter, 420 for the year
40465, conf, Kraken, Fasching LE 15-22-27 12H,
40388, conf, WPX, Missouri River 25-26HA,
39903, conf, Liberty Resources, Alvin E 158-95-18-19-4MBH,
39797, conf, Enerplus, Topaz 148-95-03B-10H,

RBN Energy: amid M&A frenzy, some E&Ps pause to sell non-core assets as others seek "bolt-ons."

There’s been a frenzy of M&A activity in the Permian Basin the past couple of years, and in recent months many of the acquiring E&Ps have reviewed their expanded base of assets, determined which acreage, wells and future well sites are core to their business going forward, and initiated the process of divesting the rest. At the same time, others — including some producers that were part of the merger mania — are on the hunt for what they see as underappreciated assets with the potential to shine.

Folks, we’re in the early stages of what you might call “The Great Permian Reshuffling” — a rapid-fire exchange of upstream assets in the nation’s most prolific shale play. In today’s RBN blog, we discuss a few of the most noteworthy “bolt-on” deals and what they tell us.