Double Eagle IV is quietly adding leases and drilling new oil wells in core parts of the Midland Basin. After a historic run of corporate consolidation, is it the most attractive private equity-backed E&P still standing in the Permian Basin?
The Midland Basin is the center of U.S. oil drilling activity. But only those with the biggest balance sheets can afford to buy in the basin's core, following a historic consolidation trend.
Low U.S. natural gas prices will hurt Tellurian Inc's ability to sell Louisiana gas producing properties in order to pay off enough debt to salvage its liquefied natural gas export (LNG) project, analysts said. Tellurian has spent nearly seven years advancing its still incomplete Driftwood LNG export plant. Low natural gas prices drove the unit to a $55.5 million operating loss last year from a $130.6 million operating profit in 2022, results released last week showed.
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