OPEC gift wraps market share for US tight oil producers just in time for the holidays: US Upstream week in brief
Commodity markets rally as OPEC announces its first cut since 2008 and Texas is poised to capitalise, as the state features prominently in stories across the board this week. The Delaware Basin in West Texas continues its hot streak of high dollar M&A deals. Gas plays in East Texas have proven to be foundational company assets, with a new player attempting to IPO around Cotton Valley acreage. Eagle Ford players in South Texas could benefit from newly proposed downstream capacity, but with crude exports to Korea kicking off, is it needed to support what may or may not become a trend? We interrogate all these topics for you. Stories this week include: In the M&A world, the Delaware Basin reigns supreme. Raven plans new refinery in South Texas, but obstacles remain. US oil producers pivot to Asia. Wildhorse Resources Development charges on with $650 million IPO. Throwback tax measure still provides value if you can trigger it.