Wood Mackenzie Corporate Research

Strategy, Benchmarking and Valuations of oil & gas companies, energy transition and M&A from our global team

[Alex Beeker @WM_alexbeeker]

Civitas is laying a template for how to successfully emerge post-bankruptcy. Merge with other post-bankrupt companies to grow production base without outspending cash flow. Higher prices of course help too

[Brandon Davis - WM @BdavisWm]

Companies are still early in their journey to reach bold ESG goals. We've looked at several leading US independents to better understand where their emissions and targets sit relative to one another and what they're doing to achieve their goals.

https://t.co/2xIZVz9MVU

[Valentina Kretzschmar @VCKretzschmar]

Decarbonisation is no longer optional. Dozens of E&P companies adopted carbon mitigation strategies last year. Decarbonisation strategies will proliferate this year, especially as the new US administration supercharges its climate efforts.

[Wood Mackenzie Corporate Research @WM_CorpAnalysis]

Just as we predicted in our note last week, Chesapeake has announced a Senior Notes offering to refinance its exit term loans.

https://t.co/iP7WBo5TC8

[Wood Mackenzie Corporate Research @WM_CorpAnalysis]

Our Corporate week in Brief takes a look at all the latest news and analysis in the corporate energy sector: https://t.co/go7JNDnqbG

[Wood Mackenzie Corporate Research @WM_CorpAnalysis]

As Q4 earnings begin, we ranked 29 Lower 48 Independents using our Financial Health Index: https://t.co/TLUlcFwTKq

[Wood Mackenzie Corporate Research @WM_CorpAnalysis]

Look out for our Corporate New Energies Series to learn about the Majors' Energy Transition strategies: https://t.co/dQfC84WAyj

[BlackRock @BlackRock]

As more and more companies, investors and governments focus on the goal of a #netzero economy, a fundamental transformation is underway. Learn more: https://t.co/JwogqqQbKE

[Wood Mackenzie Corporate Research @WM_CorpAnalysis]

Yes! And we get to see our wonderful team in the office again! @RaphaelPortelaC @WM_alexbeeker @anuj_goyal

[WoodMac Oil Price @WMALHittle]

Administration to Buy Enough Doses to Vaccinate U.S. Population by End of Summer - The Wall Street Journal —-
Looking positive for US oil demand this summer https://t.co/o3WJmZDIPt

[Wood Mackenzie Corporate Research @WM_CorpAnalysis]

Thanks for sharing @RobertClarke_WM We will be updating the report regularly through earnings season so keep an eye out here: https://t.co/Y2StYIgRzz

[Robert Clarke @RobertClarke_WM]

Continued capital flight from global upstream? The 53 E&Ps that have disclosed upstream spending plans so far will invest 3% less this year than their post-crash 2020 estimates showed. So despite price strength the past few months, budgets still fall. The Majors lead the shift.

[Robert Clarke @RobertClarke_WM]

Seven out of eight stories in the @WM_CorpAnalysis Monday note from yesterday covered solar, wind, or carbon projects. Momentum to say the least. $CVX $TOT $EQNR https://t.co/ofzjwvEi4V

[Wood Mackenzie Corporate Research @WM_CorpAnalysis]

@RobertClarke_WM @TomLoughrey_LFE @crudegusher $PXD looks even better after closing $PE acquisition. Lowering reinvestment rate from 70-80% to 65-75% with 5% oil growth. Stay-flat reinvestment rate likely even lower.

[Robert Clarke @RobertClarke_WM]

Healthy is 20% gearing. @addison3331 Adding author @WM_alexbeeker for more details. $MRO & $HES shrink their de-leveraging timeline the most with rising WTI. https://t.co/po60H84JRs

[Wood Mackenzie Corporate Research @WM_CorpAnalysis]

Hess looking to add a second Bakken rig now that WTI is >$50. Should hold production flat in 2021 after dropping from 6 rigs to 1 in the spring.

[Wood Mackenzie Corporate Research @WM_CorpAnalysis]

Our teammate @WM_alexbeeker spoke with NPR @Marketplace to discuss the #ESG side of recent M&A activity in the Permian. Listen here (2 mins): https://t.co/p9WPiZ6t73

[Wood Mackenzie Corporate Research @WM_CorpAnalysis]

Ten predictions for energy in 2021. We are particularly excited to see how #3 and #4 turn out @tom_ellacott @WMVKretzschmar https://t.co/5WtfUaDuBP

[Wood Mackenzie Corporate Research @WM_CorpAnalysis]

To learn more about the Majors' Energy Transition strategies and the impacts on their business, check out our Corporate New Energy Series

[Wood Mackenzie @WoodMackenzie]

Driven by #netzero carbon commitments, the European Majors’ new energy strategies are evolving rapidly... https://t.co/lDcLP2HA5B

[Wood Mackenzie Corporate Research @WM_CorpAnalysis]

Our inaugural Saudi Aramco Corporate Report was published today. It is available in our eCommerce store: https://t.co/DxHJOqZa1S @WMALHittle @WoodMackenzie

[Wood Mackenzie Corporate Research @WM_CorpAnalysis]

Upstream M&A hit a state of near-paralysis in Q1 2019. Forty-three transactions marks the slowest quarter in over 15 years. US$5.75 billion of disclosed spend only just sneaked past the total from Q1 2015 – our go-to reference point for M&A market inertia.

[Wood Mackenzie Corporate Research @WM_CorpAnalysis]

WoodMac: "The Majors’ rush into the market means smaller companies are going to struggle to compete for service contracts and pay higher prices".
https://t.co/RPSPsmSEHX

[Wood Mackenzie Corporate Research @WM_CorpAnalysis]

2019 global upstream capex is down 1% from last year. Focused US companies' budgets are down the most: by a weighted average of 17% y-o-y. @WoodMackenzie @WMALHittle