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
28 April 2026
Oil traders warning of $200/bl oil are wrong, and the market should be wary of proclamations that the impact of the oil shortage has only begun to be felt and a that a ‘harsh adjustment’ is coming—even for industrialised nations
28 April 2026
Restoring supply from Saudi Arabia, the UAE, Kuwait, Qatar, Bahrain and Iraq involves complexities far beyond simply adjusting operational controls
28 April 2026
Datacentres will guzzle power at a ferocious rate, but the impact on wider energy markets will be far more complex than previously thought
28 April 2026
The key energy player faces balancing regional routes, political complexities, and creating a clear strategic vision for energy security
