Alternatives

July 1, 2022

E&P Third Quarter 2022

Bakken

Executive Summary

Oil prices declined in the third quarter of 2022, as West Texas Intermediate (WTI) and Brent Crude front-month futures ended the quarter at about $79/bbl and $85/bbl, respectively — a decrease from $108/bbl and $112/bbl, respectively, at the start of the quarter.  Natural gas was more volatile, with Henry Hub front-month futures settling at $6.77/mmbtu on 9/30/2022 — an increase from $5.71/mmbtu to start the quarter — but below the highs in the second half of August, topping out at $9.71/mmbtu. Natural gas prices recovered in the third quarter of 2022, after the sharp decline in mid-June after news that a Freeport LNG facility would be offline longer than anticipated, giving rise to over-supply fears. 

Download the full newsletter

Download
Download the newsletter

Continue Reading

Getting Its DUCs in a Row: Appalachia Keeps the Gas Flowing
Getting Its DUCs in a Row: Appalachia Keeps the Gas Flowing
Appalachian natural gas production remained steady despite declining drilling activity, supported by a significant reduction in drilled but uncompleted wells. Comparing production trends, commodity price volatility, and public company performance across major U.S. basins highlights the impact of LNG demand, infrastructure constraints, and changing market conditions.
Appalachian Basin Mergers and Acquisitions Update: October 2025 Through September 2026
Appalachian Basin Mergers and Acquisitions Update

October 2025 Through September 2026

Appalachian Basin M&A activity from October 2025 through September 2026 featured a mix of large strategic asset trades, mineral and royalty acquisitions, and non-operated investments. The transactions highlight a broadening buyer universe and the importance of interpreting valuation benchmarks in light of differing asset structures and strategic considerations.
How Do Reserve Categories Affect Oil and Gas Valuation?
How Do Reserve Categories Affect Oil and Gas Valuation?
Reserve categories influence oil and gas valuation through differences in recovery certainty, required capital, development timing, and exposure to execution risk. Understanding how PDP, PDNP, PUD, probable, and possible reserves differ helps support more defensible valuation assumptions and conclusions.

Cart

Your cart is empty