An Exxon Mobil -led consortium is considering its first offshore natural gas production in Guyana, possibly close to the country's maritime border with Suriname, an executive said on Wednesday. Exxon and partners Hess Corp and CNOOC Ltd are under pressure from Guyana to develop the South American country's untapped natural gas.
Diamondback Energy (FANG) is set to acquire Endeavor Energy Resources in a merger deal valued at $26 billion, making Diamondback a major player in the Permian Basin — currently one of the most productive oil and gas fields within the United States. Consolidation in the energy space has rapidly accelerated in recent weeks. Rystad Energy Senior Analyst Matthew Bernstein joins Yahoo Finance to discuss the energy sector and why he believes it has entered a new era of production. Bernstein explains how companies arrived into the new era: "I think over the past several years since right before COVID, these operators have been able to prove that they can essentially live within their means or invest into a new development within their cash flow, so from the investor side and the shareholder side, you're seeing a bit more easiness and acceptance of things like taking on new debt in order to finance acquisitions because ultimately this shale 4.0 era will be defined by the need for scale for the long-term. And that's really the motivation behind all of these deals is really needing to scale up in terms of the acreage and the amount of drillable locations that you can have for the future." For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Nicholas Jacobino
In this piece, we will take a look at the 13 best energy stocks to invest in according to hedge funds. If you want to skip our overview of the global energy industry and some latest events, then you can take a look at the 5 Best Energy Stocks To Invest In According to Hedge […]