Survivors of $50 Crude: A US E&P CAPEX Evaluation

  • ID: 4396512
  • Report
  • Region: Global, United States
  • 152 Pages
  • RBN Energy
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Concentration of Assets, Targeted Acquisitions, and Strategic Divestitures Separate the Winners from the Losers in a $50/bbl Crude Oil World

FEATURED COMPANIES

  • Anadarko Petroleum
  • Chesapeake Energy
  • Denbury Resources
  • EQT Corp.
  • Noble Energy
  • Range Resources
  • MORE

A market study about understanding this industry-wide transformation, identifying the companies best positioned for success, and predicting how the changes in U.S. E&P sector will continue to dominate the supply side of the supply/demand balance, not only in the U.S. but around the globe.

  • The U.S. E&P sector is enjoying a recovery, not due to rising prices but instead driven by strategies that focus on core plays, M&A deals that implement those strategies, and productivity gains that can be extracted through improved operational results and lower costs.
  • Through aggressive deal making in hundreds if not thousands of transactions, U.S. E&Ps have been behaving like schools of piranha, eating away at small pieces of other companies and selling pieces of themselves to fund those acquisitions.
  • In doing so these companies are simultaneously fragmenting and reconstituting the U.S. E&P sector.
  • It is critically important to understand this transformation, which will not only shape future U.S. oil and gas production, but will drive the supply side of the global supply/demand balance.
  • Collectively, in 2016 these companies issued $28.6 billion in stock and $36.4 billion in bonds. Some have built a strong balance sheet and been rewarded by financial markets while others have continued to struggle financially and have been punished.
  • In 2017, these companies are boosting investment by 43% after a 70% plunge in 2014-16, which will restart substantial output growth in 2017 and beyond.
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FEATURED COMPANIES

  • Anadarko Petroleum
  • Chesapeake Energy
  • Denbury Resources
  • EQT Corp.
  • Noble Energy
  • Range Resources
  • MORE

1. Introduction

2. Synopsis of Findings and Conclusions

3. Section A - Love It or Leave It: The New Upstream M&A Paradigm
3.1 Survival of the Fittest
3.2 Stampeding toward the Permian
3.3 2017 - M&A Wave Laps Up on New Shores, Finds New Buyers
3.4 Regional M&A Analysis – The Major Shale Basins
3.4.1 Permian Basin
3.4.2 Marcellus Shale
3.4.3 Eagle Ford Shale
3.4.4 Bakken Shale
3.4.5 Other Shale Plays

4. Section B - CAPEX Rebounds: Leaner Industry Positions for Growth
4.1 The 2017 Outlook: Investing for 2018 and Beyond
4.2 Permian, Bakken Players Drive Oil-Weighted E&P Investment
4.3 Different Strokes for Different Folks in Diversified Peer Group
4.4 Gas Producers Put the Pedal to the Metal

5. Section C - Financial Strength Analysis
5.1 Emerging on the Upside of Down: E&Ps in Solid Position for Growth
5.2 Analyzing Financial Strength by Peer Group
5.3 Financial Analysis by Reserve Size
5.3.1 Large E&P Peer Group
5.3.2 Mid-Sized E&P Peer Group
5.3.3 Small E&P Peer Group
5.4 Financial Analysis by Commodity Weighting
5.4.1 Oil-Weighted Producers Peer Group
5.4.2 Diversified Producers Peer Group
5.4.3 Gas-Weighted Producers Peer Group
5.5 Financial Analysis by U.S. Resource Play
5.5.1 Permian Producers Peer Group
5.5.2 Appalachian Producers Peer Group
5.5.3 Eagle Ford Producers Peer Group
5.5.4 Williston Producers Peer Group
5.5.5 SCOOP/STACK Producers Peer Group

6. Section D - Company Profiles

  • Anadarko Petroleum
  • Antero Resources
  • Apache Corp.
  • BP Plc
  • Bill Barrett Corp.
  • Cabot Oil & Gas
  • Carrizo Oil & Gas
  • Chesapeake Energy
  • Chevron Corp.
  • Cimarex Energy Corp.
  • Concho Resources
  • ConocoPhillips
  • CONSOL Energy
  • Continental Resources
  • Denbury Resources
  • Devon Energy
  • Diamondback Energy
  • Encana Corp.
  • Energen
  • EOG Resources
  • EP Energy
  • EQT Corp.
  • ExxonMobil
  • Hess Corp
  • Laredo Petroleum
  • Marathon Oil
  • Murphy Oil
  • National Fuel Gas
  • Newfield Exploration Corp.
  • Noble Energy
  • Oasis Petroleum
  • Occidental Petroleum
  • Parsley Energy
  • PDC Energy
  • Pioneer Natural Resources
  • QEP Resources
  • Range Resources
  • Rice Energy
  • Royal Dutch Shell
  • RSP Permian
  • Sanchez Energy
  • SM Energy Corp.
  • Southwestern Energy
  • Unit Corp.
  • W&T Offshore
  • Whiting Petroleum
  • WPX Energy
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  • Anadarko Petroleum
  • Antero Resources
  • Apache Corp.
  • BP Plc
  • Bill Barrett Corp.
  • Cabot Oil & Gas
  • Carrizo Oil & Gas
  • Chesapeake Energy
  • Chevron Corp.
  • Cimarex Energy Corp.
  • Concho Resources
  • ConocoPhillips
  • CONSOL Energy
  • Continental Resources
  • Denbury Resources
  • Devon Energy
  • Diamondback Energy
  • Encana Corp.
  • Energen
  • EOG Resources
  • EP Energy
  • EQT Corp.
  • ExxonMobil
  • Hess Corp
  • Laredo Petroleum
  • Marathon Oil
  • Murphy Oil
  • National Fuel Gas
  • Newfield Exploration Corp.
  • Noble Energy
  • Oasis Petroleum
  • Occidental Petroleum
  • Parsley Energy
  • PDC Energy
  • Pioneer Natural Resources
  • QEP Resources
  • Range Resources
  • Rice Energy
  • Royal Dutch Shell
  • RSP Permian
  • Sanchez Energy
  • SM Energy Corp.
  • Southwestern Energy
  • Unit Corp.
  • W&T Offshore
  • Whiting Petroleum
  • WPX Energy
Note: Product cover images may vary from those shown
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