· 2 min read
illuminem summarizes for you the essential news of the day. Read the full piece on Forbes or enjoy below:
🗞️ Driving the news: Enverus has published a new report ranking the Top 100 Private Oil Drillers based on metrics like well counts, rig movements, and gross production over the past year
• The report highlights the shift in merger and acquisition activities, particularly with private companies becoming attractive takeover targets
🔭 The context: The recent surge in mergers and acquisitions has heavily involved public buyers and private sellers, reshuffling the rankings
• Notably, Continental Resources, Ascent Resources, and Aetheon Energy lead the list despite not being major players in the Permian Basin, which has traditionally seen the most activity
🌍 Why it matters for the planet: Understanding the dynamics of oil production and the key players can influence energy policies and sustainability efforts
• Identifying major private operators helps stakeholders navigate the environmental impacts and regulatory landscapes of oil drilling
⏭️ What's next: The report suggests a continued focus on private operators as potential acquisition targets, with regional shifts in top players
• Future mergers and acquisitions will likely reshape the industry's landscape further
💬 One quote: "Inventory count and quality has also significantly driven private operator valuations, and in many cases, there has been a goal of growing production to become more attractive to takeout targets." – Justin Lepore, Lead Consultant, Enverus
📈 One stat: Hilcorp, ranking #6, operates more than 20,000 wells, the highest among the listed companies
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