Concerns on remaining inventory are a big driver of M&A activity, but improving drilling efficiencies allow for low rig counts to keep high production, says Dan Pickering, the chief investment officer of Pickering Energy Partners.

Concerns on remaining inventory are a big driver of M&A activity, but improving drilling efficiencies allow for low rig counts to keep high production, says Dan Pickering, the chief investment officer of Pickering Energy Partners.