Chris Mathews

Houston

Senior Editor at Hart Energy

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Articles

Buyers Scramble for Their Slice of the Haynesville

2 days ago | hartenergy.com | Chris Mathews

Natural gas is having a moment. Time will tell whether it’s really the “golden age of natural gas” or a short-lived race to the bottom for U.S. gas producers. Bulls point to a looming wall of demand, mostly from new LNG projects but also from data centers, AI and power generation. Producers are staying relatively cautious, with few operators in a hurry to drive production way up—and prices back down. For now, forward prices are constructive for U.S. gas producers.
US Energy M&A Shifts Gassier into Appalachia, Midcon as Oil Slips

3 days ago | hartenergy.com | Chris Mathews

U.S. upstream dealmaking continued at a normal pace in April, despite a 12% collapse in WTI crude prices. Dealmaking across all sectors fell to a 20-year low in April due to tariff and trade uncertainty in the wake of the Trump administration’s “Liberation Day” shakeup. Experts say it’s still too early to see a material drop-off in upstream oil and gas M&A activity, which continued at a relatively typical clip last month.
NRG Stock Soars on $12B NatGas Power Plant Fleet Acquisition

3 days ago | hartenergy.com | Chris Mathews

NRG Energy is buying a fleet of natural gas-fired power plants in a cash-and-stock transaction valued at $12 billion. The deal comes as natural gas producers and power generators are excited about growing electricity demand across the U.S. NRG shares were up over 24% in afternoon trading on May 12. NRG’s acquisition from LS Power Equity Advisors includes 18 power facilities totaling 13 gigawatts (GW) of generation capacity, the companies said May 12.
NRG Stock Soars on $12B NatGas Power Plant Fleet Acquisition

3 days ago | finance.yahoo.com | Chris Mathews

NRG Energy is buying a fleet of natural gas-fired power plants in a cash-and-stock transaction valued at $12 billion. The deal comes as natural gas producers and power generators are excited about growing electricity demand across the U.S. NRG shares were up over 24% in afternoon trading on May 12. NRG’s acquisition from LS Power Equity Advisors includes 18 power facilities totaling 13 gigawatts (GW) of generation capacity, the companies said May 12.
Bakken Beast: Chord Plans Seven More 4-Mile Bakken Wells in ‘25

6 days ago | hartenergy.com | Chris Mathews

Chord Energy is going long in the Bakken, planning to spud seven new 4-mile wells this year. Chord is encouraged by its first three 4-mile middle Bakken wells, the first of which began production in the first quarter. The first 4-mile Bakken well was spud in late 2024 and completed in February. Chord reached a total depth (TD) exceeding 30,400 ft, vertical and lateral combined, while cleaning out frac plugs.
WhiteHawk Buys PHX Minerals for $187MM, Expands into Midcontinent

1 week ago | hartenergy.com | Chris Mathews

WhiteHawk Energy has agreed to acquire PHX Minerals in a deal valuing PHX at $187 million, including net debt. WhiteHawk Income Corp. will acquire PHX for $4.35 per share, the companies said after markets closed May 8. The deal represents a 21.8% premium over PHX’s closing share price on May 7. Shares for PHX were up nearly 20% in afterhours trading on May 8. WhiteHawk will add PHX’s portfolio of 1.8 million gross unit acres of natural gas mineral and royalty assets.
Riley Permian Buys Northwest Shelf E&P Silverback II for $142MM

1 week ago | hartenergy.com | Chris Mathews

Riley Exploration Permian is adding acreage in New Mexico’s Northwest Shelf with an acquisition of Silverback Exploration II. Silverback, backed by private equity EnCap Investments LP, holds 47,000 net acres in Eddy County, New Mexico. Recent production from the acquired assets was 5,000 boe/d (52% oil, 75% liquids). Riley Permian estimates around 19,000 net acres (79% undeveloped) are prospective for the Yeso Trend, one of the company’s main development areas.
Diamondback CEO: US Onshore Oil Output Has Likely Peaked as Rigs Drop

1 week ago | hartenergy.com | Chris Mathews

Low prices and macroeconomic uncertainty are putting U.S. energy security in jeopardy, one of the nation’s top oil bosses says. Diamondback Energy Chairman and CEO Travis Stice didn’t mince words in his quarterly letter to shareholders. “We believe we are at a tipping point for U.S. oil production at current commodity prices,” Stice wrote in the May 5 letter. WTI crude prices have collapsed 20% year to date, averaging $58.29/bbl during the week ended May 2.
New Exxon Proppant Tech Enhances Permian Basin Well Recovery

1 week ago | hartenergy.com | Chris Mathews

Exxon Mobil is leveraging its scale and engineering prowess to boost Permian Basin production. The U.S. supermajor is seeing an up to 15% uplift in EURs from Permian wells completed with lightweight proppant technology designed in-house by Exxon engineers. Exxon first mentioned the proprietary frac tech to investors late last year. The lightweight proppant is based on petroleum coke derived from Exxon’s refining operations.
TotalEnergies, Equinor Growth Tied to Eagle Ford, Marcellus M&A

2 weeks ago | hartenergy.com | Chris Mathews

Non-operated U.S. gas assets barely get a mention in earnings for TotalEnergies and Equinor ASA. But TotalEnergies’ Eagle Ford Shale portfolio and Equinor’s Marcellus Shale portfolio—both non-op—are key production drivers for the two European energy firms. Both companies were active in U.S. shale M&A last year. Equinor grew its non-op Marcellus portfolio through two transactions with EQT Corp.