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Since 2016, Vicki Hollub has helped lead Occidental Petroleum through the Shale Revolution and into one of the world’s leading oil and gas companies. She was at the forefront of the industry-shifting purchase of Anadarko Petroleum in 2019, which thrust Oxy into the upper echelons of U.S. shale producers. More recently, Hollub has directed Oxy’s leading position in CCS and Direct Air Capture through its 1PointFive subsidiary. In 2023, she was named to Forbes’ “Most Powerful Women in the World.”

Setting the stage for the DUG Executive Oil Conference, a leading analyst will provide their insight and perspective on the U.S. shale industry, production and pricing trends, what to expect in M&A in the short term and the impacts of a new presidential administration on U.S. energy production.

Of ConocoPhillips’ 710,000 BOE/d produced in the Permian Basin, 537,000 BOE/d originates from the Delaware Basin. The company began exploring and appraising the basin’s stacked pay potential in 2012 and has gained extensive technical expertise to optimize development. At the beginning of 2024, the company operated over 2,800 producing wells throughout the Basin. Its development strategy allows full field optimization. In this session, you’ll hear more about the company’s development plans for its Delaware Basin operations. 

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In a post-mega deal world, who are now the buyers and who are the sellers, and at what multiples? Core-of-the-core opportunities are dwindling, but can secondary benches such as the Barnett, northern Midland Basin or Northwest Shelf be considered to not only scale, but also replace rapidly declining inventories? In this session, you’ll learn more about:

• How M&A deals are impact capital markets
• The importance of the Permian Basin on global markets
• What is driving recent M&A activity
• Analysis of recent deals and what they mean to the upstream sector

Accessing capital is more challenging than ever, but opportunities in the form of family offices, secondary markets and asset-backed securities are emerging for producers. Meanwhile, new funds are being established, ushering the next wave of private-backed producers. This session will cover emerging new capital markets and opportunities to access capital.

Delaware Basin-focused Permian Resources produces 338,800 BOE/d, which is only set to grow following an $817 million acquisition from Oxy. That deal adds 29,000 net acres and about 15,000 Boe/d of production to an already impressive portfolio. Permian Resources recently diversified that portfolio with the addition of 9,900 net royalty acres and substantial midstream infrastructure in Reeve’s County.  

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Marshall Adkins will highlight the key oil and gas fundamental drivers that the market may be missing or not fully pricing into both oil and gas prices. Given the current bearish market sentiment for oil prices, he will focus on the contrarian bullish drivers that the market is missing for oil. He will also detail a few of the most important long-term drivers that he believes will push U.S. natural gas prices higher over the next five years.

Denver-based Franklin Mountain Energy develops the Delaware Basin in Lea County, N.M. The company was established in 2018 in a collaboration with Franklin Mountain Investments and Franklin Mountain Capital. In this operator session, one of the founders of Franklin Mountain Energy will share how she and her partners built one of the largest private E&Ps in the Permian Basin without private equity capital. With primarily undeveloped rock, Franklin Mountain energy today operates 150 wells to produce 60,000 boe/d.

With approximately 2.8 million net acres, Oxy is one of the leading producers in the Permian Basin. The company’s operations feature Midland Basin-leading well productivity and cost structures, with sub-$40 breakeven well inventories. In August, Oxy completed its acquisition of CrownRock, achieving greater scale in the Midland Basin and approximately 200 Mboe/d of net production. In this Operator Spotlight, you’ll hear more about Oxy’s Midland Basin operations, its production outlook, and the impact of the CrownRock acquisition. 

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2025 will see a new administration in the White House, and shifts in policies and perspectives from federal administrations. Understanding the current landscape around emissions and reporting policies is critical to operations, and knowing the tax incentives can prove valuable to business.

In the Permian Basin, Tier One acreage located in the core of the core is largely accounted for. Newer benches like the Meramec/Woodford, Barnett and Dean are being explored and potential is high. In Utah's Uinta Basin, operators are taking the oil fairway horizontal now that takeaway has been unleashed by rail. One operator estimates 17 potential layers of laterals there.

Join us at Fair to Midland for an evening of light bites and libations to relax & socialize with fellow attendees on their shade tree covered patio or play one of their unique fair style games. It'll be the perfect way to close out the DUG Executive Oil Conference!

1115 Tradewinds Blvd | Midland,Texas 79706

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