July 3, 2020 – OilPrice.com
High Quality Oil And Gas Assets Should Drive An M&A Recovery
By Tsvetana Paraskova
The oil price collapse has taken its toll on mergers and acquisitions (M&A) across the U.S. oil and gas industry as companies preserve cash in these highly uncertain times.
Read the full article here: https://oilprice.com/Energy/Crude-Oil/High-Quality-Oil-And-Gas-Assets-Should-Drive-An-MA-Recovery.html
The shale patch slashed expenditures for 2020 and suspended production guidance after the price crash.
"Oil prices have risen significantly since the May lows, and we expect that most E&P companies will issue more definitive production guidance, along with recalibrated drilling and completion activity, in their first half 2020 earnings reports in a few weeks," RBN Energy said in a note last week.
Although some producers are starting to bring back part of the production they had curtailed, it will likely be a few years – or never – until U.S. crude oil output returns to its pre-crisis levels of 13 million bpd.