US Upstream week in brief: 24 August 2016

Report summary

A hot summer of Permian acquisitions continues as PDC pays a $1.5 billion entrance fee into the basin. Continental Resources sells its fringe acreage in the Williston Basin and joins the growing list of operators seeking to strengthen balance sheets and focus on core assets. And though the spotlight still remains on oil-rich plays, BHP has announced a surprising move to resume activity in the Haynesville Shale, proving that tight gas can compete for capital under the right circumstances. We explore the company's motivation for returning to a play where others have curtailed capital investment. Stories this week include: PDC makes billion dollar deal for entry into Delaware Basin BHP to resume drilling in low-activity Haynesville Continental sheds non-core Bakken acreage Jones extends its Mid-Continent operations with SCOOP/STACK acquisition Antero invests in water treatment solution in the Appalachian Basin Inter Pipeline acquires Williams' Canadian NGL business