Soaring Shale Costs Boost Case for Deal-Making, Kimmeridge Says [BNN Bloomberg (Canada)]
Civitas Resources, Inc. (CIVI)
Last civitas resources, inc. earnings: 8/7 04:15 pm
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Source: BNN Bloomberg
So-called finding and development costs surged 70% to $17 a barrel last year after doubling in 2022, Kimmeridge wrote in a white paper on Monday. Finding and development costs are among the first expenses incurred by management teams and typically involve things such seismic surveys and drilling test wells to confirm a discovery. More than a decade into the shale revolution, which upended global energy markets, F&D costs are climbing in large part because the richest discoveries already have been drilled. That's forcing companies to explore second- and third-rate prospects to ensure future crude production. “The industry is worried because shale is getting old,” according to the report. “The current wave of consolidation is motivated by real concerns about declining capital efficiency.” Oilfield-service costs for US shale producers are expected to rebound in 2025 as demand for natural gas drilling returns, research house Enverus has said. Kimmeridge previously pushed for improv
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CIVI
News
- Colorado commission puts the pause on drilling project that would have gone under Erie neighborhoods [CBS News]CBS News
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- Civitas Resources Third Quarter 2024 Earnings: EPS Beats Expectations, Revenues Lag [Yahoo! Finance]Yahoo! Finance
- Civitas Resources Inc (CIVI) Q3 2024 Earnings Call Highlights: Strong Financial Performance and ... [Yahoo! Finance]Yahoo! Finance
- Civitas Resources, Inc. Declares Quarterly Cash DividendBusiness Wire
CIVI
Earnings
- 11/7/24 - Miss
CIVI
Sec Filings
- 11/12/24 - Form SC
- 11/8/24 - Form SC
- 11/8/24 - Form 4
- CIVI's page on the SEC website