Insight
Energy Pulse: The US oil industry is consolidating as growth slows
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
Oklahoma City has taken a couple of blows this month, with two of its leading oil and gas companies, Devon Energy and Expand Energy, announcing they are relocating their headquarters to Houston. The moves are symbolic of the consolidation trend moving through the US oil industry. Devon is moving following its US$58 billion merger with Coterra Energy, a deal that will make it the largest independent oil and gas producer in the US. The deal is a sign of the continuing evolution of US tight oil, in particular, as the sector matures. Investors in US tight oil generally want scale, stability, efficiency, capital discipline and shareholder distributions. Those demands will continue to shape the industry in the months and years to come.
Table of contents
-
The US$58 billion Devon-Coterra merger reflects investors’ demands for scale and stable cash flows
- The Wood Mackenzie view
- The US overturns fundamental climate rule
- In brief
- Other views
- Quote of the week
- Chart of the week
Tables and charts
This report includes the following images and tables:
What's included
This report contains:
Other reports you may be interested in
Insight
Energy Pulse: The Trump administration moves to curb rising US electricity bills
The federal government and state governors have launched a plan to address surging demand from data centres in northern and eastern states
$3,000
Insight
US upstream in brief: Transocean-Valaris merger creates Gulf of America drilling giant
The US week in brief highlights the need-to-know current events from US upstream. Stories are supplemented with proprietary WoodMac views.
$1,350
