Drilling rig, Eagle Ford
Consolidation heats up for maturing US shale
Growth might not be on the table, but operators are eyeing opportunities to add quality acreage
Lack of midstream capacity and dismal upstream growth prospects for 2023 are proving no barrier to M&A activity for maturing US shale basins. Over the past quarter, both the Eagle Ford and Appalachia recorded bumper deals that showcase the perceived long-term potential among operators. In the Eagle Ford, US independent Devon Energy snapped up Texas-focused Validus Energy for $1.8bn last year. The deal doubled the firm’s production base in the basin and increased exposure and access to Gulf Coast pricing. In July, the operator also added a bolt-on acquisition in the Williston basin but stressed there was not likely to be further spending in the immediate future. Other operators soon fo
Also in this section
2 April 2026
Alongside a rapid continued build-out of renewables, China’s latest five-year plan stresses the value of domestic hydrocarbon production for energy security and calls for increased Russian gas imports
2 April 2026
The government is taking important steps to revive domestic production, lift investment and benefit from the geopolitical crisis even if more needs to be done in the longer term
1 April 2026
Golden Pass’s startup offers QatarEnergy a timely boost but may also force a difficult choice between honouring disrupted contracts and capitalising on soaring spot LNG prices
1 April 2026
It is not a case of if or when, but the length and magnitude of economic damage from elevated oil prices
