Liam Denning, Columnist

Activists Nudge Shale's Minnows Toward The Inevitable: M&A

Kimmeridge's Carrizo stake is a reminder the patch is ripe for consolidation.

April 6, 2018 at 4:42 PM UTC

Liam Denning is a Bloomberg Opinion columnist covering energy. A former banker, he edited the Wall Street Journal’s Heard on the Street column and wrote the Financial Times’s Lex column.

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It certainly feels like patience is wearing thin in the shale patch.

Carrizo Oil & Gas Inc. is the latest fracker to feel the hot breath of an activist down its neck, in the form of Kimmeridge Energy Management Co. The private equity firm has taken a roughly 8 percent stake in Carrizo and wants it to either merge or sell a large slug of assets.