Shale’s Shift to All-Stock Deals Gives It Muscle Against OPEC Maneuvers
APA Corp.’s $2.6 billion purchase of Callon Petroleum Co. extends the industry’s strategy of lining up drilling sites without piling on debt.
Permian Basin oil and natural gas output may grow in 2024, though at a slower pace than last year.
Photographer: Callaghan O’Hare/Bloomberg
Welcome to Energy Daily, our guide to the energy and commodities markets powering the global economy. Today, shale-oil reporter Mitchell Ferman examines what the recent run of all-stock deals means to the sector. For a first-person account of sailing through the dangerous Red Sea shipping lane, read this. To get this newsletter sent to your inbox, sign up here .
The new year in the shale patch kicked off much as the old one ended, with a hefty all-stock takeover.