Any permits or regulatory?
Houston..we have a problem....
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Last: 3 days ago by one MEEN Ag
No permits but the operator has put in significant regulatory effort on the unit for development so we have fairly high confidence in the likelihood it will get drilled.
If you want to PM me the details I can get you some info.
cmiller00 said:
If you want to PM me the details I can get you some info.
That's why we have NIL.
nu awlins ag said:cmiller00 said:
If you want to PM me the details I can get you some info.
That's why we have NIL.
Think Big Walt would be interested in some TMS or Miss Lime minerals?
Endeavor has put itself up for sale.
My bet is an all cash offer from XOM.
My bet is an all cash offer from XOM.
Oh man…
Think this will happen soon or in 6 months? XOM has plenty of cash….
Think this will happen soon or in 6 months? XOM has plenty of cash….
I agree. I've heard that PXD was having discussions with Endeavor when XOM came knocking. XOM said don't do that, we'll scoop up both. I am surprised by the timing though. i would have expected the PXD deal to get approved by FTC before XOM making that move.
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My buddy at Endeavor said Autrey came out before the news broke and said there'd be a false news story coming out that they were exploring a sale. I doubt this is fake though.
I had heard earlier this year that XOM was also looking at Endeavor around the same time the PXD news first broke. And XOM has said they weren't done after the PXD announcement.
I had heard earlier this year that XOM was also looking at Endeavor around the same time the PXD news first broke. And XOM has said they weren't done after the PXD announcement.
PM sentcmiller00 said:
If you want to PM me the details I can get you some info.
I can cosign this part of it at leastMaverick06 said:
I agree. I've heard that PXD was having discussions with Endeavor when XOM came knocking. XOM said don't do that, we'll scoop up both. I am surprised by the timing though. i would have expected the PXD deal to get approved by FTC before XOM making that move.
In the recently filed S-4 with the SEC, the history of the XOM/PXD merger starts with the following statement.
Quote:
In recent months, as part of evaluating potential strategic alternatives, Pioneer engaged in discussions with another upstream company regarding the acquisition of that company by Pioneer. After discussion regarding a potential transaction and its possible terms, Pioneer concluded that the transaction with ExxonMobil would be more advantageous to its shareholders than remaining independent and potentially pursuing any other acquisition.
Well there ya have it. TexAgs knows stuff?txaggie_08 said:
In the recently filed S-4 with the SEC, the history of the XOM/PXD merger starts with the following statement.Quote:
In recent months, as part of evaluating potential strategic alternatives, Pioneer engaged in discussions with another upstream company regarding the acquisition of that company by Pioneer. After discussion regarding a potential transaction and its possible terms, Pioneer concluded that the transaction with ExxonMobil would be more advantageous to its shareholders than remaining independent and potentially pursuing any other acquisition.
Figure Endeavor is big enough that COP is the only independent that can make a move. Would not be surprised if XOM or CVX made a run. Endeavor has drilled a lot of wells on that acreage though.
When I saw the news about Endeavor first hit here I thought it was special for our group to know for a while but actually the article is here for all to see
https://worldoil.com/news/2023/12/8/permian-driller-endeavor-energy-explores-potential-30-billion-sale/
https://worldoil.com/news/2023/12/8/permian-driller-endeavor-energy-explores-potential-30-billion-sale/
Would love to buy endeavor so I can quit fighting with them about putting us into pay on wells.
It does seem like COP is due for another grab.
Btw, endeavor ain't worth $30bln
okCyp0111 said:
Btw, endeavor ain't worth $30bln
$20 bln is generous with the metrics
That's why I was happy to see Pioneer disappear.V8Aggie said:
Would love to buy endeavor so I can quit fighting with them about putting us into pay on wells.
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OXY buying CrownRock for $12B and is hiking the dividend to $0.22/share from $0.18/share.
https://www.cnbc.com/2023/12/11/occidental-petroleum-to-buy-permian-producer-crownrock-for-12-billion-raise-dividend.html
https://www.cnbc.com/2023/12/11/occidental-petroleum-to-buy-permian-producer-crownrock-for-12-billion-raise-dividend.html
Smells like an XOM/OXY/COP or CVX midland basin coming, someone will come chomp Diamondback soon - know several on the exploration side that have flown the coop recently
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My biggest gripe about the OXY deal for CrownRock is they are using debt for 75% of the take down.
This is in an inflated rate environment, after they really just got through finagling with the whole Anadarko take down that was also excessively debt heavy.
But they've still got a solid cash position so I can't complain too much, but still not a fan of using debt at these rates. Just puts more pressure on their production with respect to the price of oil and how much. I'm sure cost blended it evens out well?
This is in an inflated rate environment, after they really just got through finagling with the whole Anadarko take down that was also excessively debt heavy.
But they've still got a solid cash position so I can't complain too much, but still not a fan of using debt at these rates. Just puts more pressure on their production with respect to the price of oil and how much. I'm sure cost blended it evens out well?
Seems more of a FOMO move on Oxy's part more than anything. They didn't want to be left out of the consolidation. Vicki seems good at that, chasing APC and now CrownRock.
The most underdiscussed part of this deal is the $5 billion in planned divesture program in the next 12 months. Based on that, the debt is mostly temporary. It will be financed through selling other assets soon. Should be interesting to see what that will be.
jetch17 said:
Smells like an XOM/OXY/COP or CVX midland basin coming, someone will come chomp Diamondback soon - know several on the exploration side that have flown the coop recently
Be interesting to see what happens to FANG. They seem adamant they're a buyer, and I believe they made a real run at CrownRock before Oxy came in last minute and outbid everyone.
Endeavor seems to be going to XOM, Devon/Marathon merger seems likely, where do FANG, CTRA, and PR end up? COP gonna make a play on FANG? Does FANG decide to dip their toes into New Mexico with an acquisition of PR?
https://www.reuters.com/business/energy/tellurian-appoints-daniel-belhumeur-president-new-chair-takes-charge-2023-12-11/
missed this. Souki out at TELL. O/U on the # of days until they file BK?
missed this. Souki out at TELL. O/U on the # of days until they file BK?
Paying a premium for Crownquest and likely using a premium assumption on divestiture into a relatively fragile A&D market outside of large cap.
This will be interesting to watch and the A&D side note will be worth watching. Everybody be high grading that book.
This will be interesting to watch and the A&D side note will be worth watching. Everybody be high grading that book.
Fang is my favorite shale company. If they go on an acquisition binge with (PR or the like) what does that position them as ? The largest independent (im calling COP a major due to sizing) that gives a Permian only exposure ?
MAROON said:
https://www.reuters.com/business/energy/tellurian-appoints-daniel-belhumeur-president-new-chair-takes-charge-2023-12-11/
missed this. Souki out at TELL. O/U on the # of days until they file BK?
Interesting. Daniel is an Ag. He has his work cut out for him.
What does Oxy have to sell that would fetch $5B in this market right now? I know private equity has been quiet but consider me skeptical on that number.
I don't see any way they avoid bankruptcy.
Outside of monetizing a piece of driftwood. Not sure why that project has taken so long to get off the ground, and it sucks to be negotiating from the position they're in.MAROON said:
I don't see any way they avoid bankruptcy.