资产/投资组合管理

运营商数量减少,二叠纪产量减少

该地区渴望钻探的独立和私营公司因强劲的并购而流失,这意味着活动放缓,预计将影响该国最大油田的产量。

超级巨头雪佛龙预计到 2025 年底,其二叠纪盆地资产的产量将超过 100 万桶油当量/天。
超级巨头雪佛龙预计到 2025 年底,其二叠纪盆地资产的产量将超过 100 万桶油当量/天。
资料来源:雪佛龙。

2023 年下半年席卷德克萨斯州西部二叠纪盆地和新墨西哥州东南部的价值超过 1000 亿美元的石油行业整合浪潮可能已经达到顶峰,但仍显示出势头,这可能会在今年剩余时间内带来更多交易年。需要证据吗?看看 2 月份Diamondback Energy 和竞争对手 Endeavour Energy Resources 价值 500 亿美元的合并

Endeavour 于 1979 年作为一家刚刚起步的独资企业在德克萨斯州米德兰县钻探了第一口井。到 2016 年,这家私营公司已转型为该地区顶级水平井运营商之一,在 Diamondback 交易时,已完成 1,100 多口水平井作业,每天生产超过 400,000 桶油当量。

过去几个月,响尾蛇与奋进号的联姻只是该地区盛大的自助餐中的配菜。去年10月,埃克森美孚达成协议,以约600亿美元收购先锋自然资源公司。

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Asset/portfolio management

Fewer Operators, Lower Volumes in View for the Prolific Permian

Losing drill-hungry independent and private companies in the region to robust M&A will mean an activity slowdown that is expected to impact volumes coming from the nation’s largest oil field.

Supermajor Chevron expects to end 2025 producing over 1 million BOE/D from its Permian Basin assets.
Supermajor Chevron expects to end 2025 producing over 1 million BOE/D from its Permian Basin assets.
Source: Chevron.

The $100-billion-plus wave of oil industry consolidation that swept through the Permian Basin of west Texas and southeast New Mexico in the second half of 2023 may have crested but is still showing momentum that will likely result in more deals over the remainder of this year. Need evidence? Look to February’s $50-billion combination of Diamondback Energy and rival Endeavor Energy Resources.

Endeavor began as a green-shoot sole-proprietorship in 1979 to drill its first well in Midland County, Texas. By 2016, the private company had transitioned into one of the region’s top horizontal well operators—completing over 1,100 gross operated horizontal wells and producing more than 400,000 gross operated barrels of oil equivalent per day at the time of the Diamondback deal.

The Diamondback/Endeavor marriage was the side salad in an otherwise grand buffet of deals that ran roughshod through the region over the past several months. Last October, ExxonMobil cut a deal to acquire Pioneer Natural Resources for around $60 billion.

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