Gulfport and Diamondback bag billion dollar deals right before the holidays: US upstream week in brief Dec. 21 2016

Gulfport Energy continues the trend of Northeast operators diversifying into other basins with its move into the gas window of the SCOOP. Meanwhile, two more Permian E&Ps did some last-minute shopping to acquire southern Delaware Basin acreage to put under the tree, with Diamondback acquiring Brigham Resources and Callon acquiring a package from Ameredev. While Permian E&Ps have been snapping up packages from private equity all year, the Haynesville has seen the opposite. This week is no exception, with PE-backed Covey Park purchasing Chesapeake's second non-core Haynesville package. With 2016 drawing to a close, we have highlighted our most impactful insights of the year and the top weekly notes. From global capex cuts to billion dollar acquisitions, 2016 has been a tumultuous year. Never before has more value been placed on flowing production or more focus been spent on bolstering low-cost inventory and bringing down breakevens.