Shale bets on dividends to match supermajors, revive sector
First came the production discipline, and now here’s the cash.
Unconventionals
After blowing $300bn, US shale finally makes money
Marathon Oil Corp. used to represent everything that was wrong with U.S. shale: enormous debtloads, lavish executive pay and a seeming willingness to spend whatever it took to boost output. The company hemorrhaged money, and the stock plunged 84% from a peak in 2014 through the end of last year.
Pioneer to buy DoublePoint in $6.4bn Permian deal
Pioneer Natural Resources Co. is buying DoublePoint Energy LLC in a deal valued at $6.4 billion, less than three months after completing its purchase of fellow shale driller Parsley Energy Inc. as it expands in the U.S. Permian Basin.
Equinor to sell Bakken assets for $900m, slides to losses of $4.2bn in 2020
Equinor has reached a deal to sell its stakes in the Bakken field, onshore US, to Grayson Mill Energy, backed by EnCap Investments, for $900 million.
Exxon SEC probe highlights concerns over inflated shale reserves
The Securities and Exchange Commission has been largely silent on the financial wreckage of the U.S. shale industry in recent years, but that may be about to change.
Conoco to buy Concho for $9.7bn to create shale giant
ConocoPhillips agreed to buy Concho Resources Inc. for about $9.7 billion in stock, the largest shale industry deal since the collapse in energy demand earlier this year and one that will create a heavyweight driller in America’s most prolific oil field.