Finding the A&D Sweet Spot Building a sustainable advantage
While the world waits for oil prices to stabilize, the A&D community is lining up billions of dollars to invest when the time is right. Whether or not recent multi-billion dollar deals with Noble Energy and Shell will signal the next wave of mergers and acquisitions remains to be seen. But one thing is for sure – BD executives are on the search for deals that give their companies a strategic advantage in North America's prolific plays. And larger, well-capitalized companies are poised to leverage their equity position to acquire smaller, financially distressed companies. Where will you be when the next wave of deals takes place?
This September, the 14th annual A&D Strategies and Opportunities conference and workshop will unite 500+ BD executives, A&D professionals and industry analysts in Dallas for two days of networking, deal making and interactive conference sessions. Widely regarded as the catalyst for initiating some of the industry's biggest deals, this is the ONE event you can't afford to miss! Click here to view photos from the 2014 event.
A&D Workshop and Shark Tank – Back by popular demand! Wednesday, September 9
The day before the conference, roll up your sleeves and get into the action at the 2015 A&D Workshop! This uniquely-interactive pre-conference workshop gives upstream business development newcomers, veterans and financial partners alike hands-on experience applying todays successful A&D tactics. Get a first-hand look at the nuances of deal making (including types of transactions, seller expectations and negotiating tactics). Plus, hear directly from top industry professionals throughout the workshop. Click here to view the 2015 Workshop agenda.
Razing Funds? Goodrich Sells Eagle Ford Acreage, Forfeits Oil Production Tying its fate more and more to the Tuscaloosa Marine Shale (TMS), Goodrich Petroleum Corp. (GDP) said July 27 it has agreed to sell about 40% of its Eagle Ford acreage in La Salle and Frio counties, Texas.
Houston’s Goodrich will sell about 13,000 net acres in the oil window of the Eagle Ford Shale to an undisclosed buyer for $118 million.
Some analysts viewed the deal negatively, saying it strips away a significant portion of Goodrich’s Eagle Ford production. The divested properties constitute about 44% of the company's first-quarter 2015 oil production. Analysts also said the sales price suggests little or no value was given to non-producing acreage.
The acreage averaged 2,850 barrels of oil equivalent per day (boe/d), 75% oil. Company capex in 2015 is almost entirely devoted to the TMS with little going to other plays.