Ben Dell, Kimmeridge co-founder and managing partner, helped bring the energy sector into the modern age as a private equity manager with an activist strategy. In the years leading up to the COVID-19 pandemic, Kimmeridge and others led the industry's push toward capital discipline and investor returns to make the oil and gas sector more viable for longer.  As other investors have shied away, Kimmeridge doubled down on oil and gas with its Fund VI. Kimmeridge also is pushing more into LNG with its bigger stake in the Commonwealth LNG project and in nature-based CCS with Chestnut Carbon. In this session, Dell will discuss the evolution toward discipline, including the mergers that led to Civitas, Ovintiv and others, and what the future holds and where the dollars will come from.