Oil & Gas Exploration & Production
Case studies in oil & gas exploration & production.
APA Corporation — The Block 58 Gate
On 31 July 2024, APA Corporation said it remained on track with TotalEnergies for a final investment decision (FID) on Suriname’s Block 58 by year-end and first oil in 2028. TotalEnergies, the block operator, had secured a hull for a proposed floating production, storage and offloading vessel designed for 200,000 barrels per day. , pp. 2–3. Read case
California Resources: where should the next dollar go?
You are advising a hypothetical CRC capital-allocation team after Carbon TerraVault I (CTV I) began injecting carbon dioxide in May 2026. Read case
ConocoPhillips — How Should It Adjust the 2020 Operating Plan?
On the evening of 17 March 2020, ConocoPhillips (COP) had to decide whether its 2020 operating plan could still stand. The plan had been issued before two shocks arrived together: the spread of COVID-19 was weakening expected oil demand, and the March 6 OPEC+ meeting ended without an agreement to extend production management. Read case
Cabot–Cimarex — Should Shareholders Approve the Merger?
On 13 August 2021, Cabot Oil & Gas and Cimarex Energy filed Amendment No. 1 to Form S-4, containing a preliminary joint proxy/prospectus, ahead of shareholder meetings scheduled for 29 September. Cimarex shareholders would vote on the merger; Cabot shareholders would vote on the share issuance and a charter amendment required by the transaction. Read case
Devon Energy: Funding the Next Barrel
On August 6, Devon Energy reported its second-quarter results. The company had generated $1.535 billion in operating cash flow and $587 million in free cash flow during the quarter. It had also agreed to spend $5 billion to acquire Grayson Mill Energy’s Williston Basin business. The deal was still pending. Read case
Diamondback Energy: Choosing the Next Use of Cash
On August 3, 2026, Diamondback Energy reported second-quarter production above one million barrels of oil equivalent per day, strong cash generation, and lower debt. The company also raised its full-year production guidance while leaving its cash-capital budget unchanged. Its board had recently enlarged the share-repurchase authorization. Read case
EOG Resources — Where Should the Next Well Go?
On 22 February 2024, EOG Resources reported 2023 results and its 2024 capital plan. The plan called for $6.0–$6.4 billion of capital expenditures, with management expecting crude-oil production to rise 3% and total production to rise 7% from 2023. Read case
EQT Corporation — Production Plans Before a Pipeline Opens
Imagine you are supporting an EQT planning review on March 1, 2024. The company has published its 2024 production and capital guidance. Your task is to recommend how the team should handle any request for activity beyond that plan while Appalachian natural-gas prices, pipeline access, and Mountain Valley Pipeline (MVP) timing remain uncertain. Read case
Evolution Petroleum: How Much Flexibility Should a Small E&P Keep?
Use only the cited written sources available by the cutoff. The information set excludes remarks or a transcript from the September 17 earnings call, which was scheduled to begin before the 10-K acceptance time. Read case
Expand Energy: Integrating a Gas-Marketing Platform
Expand Energy completed its acquisition of Twin Eagle Holdings, N.A., LLC on September 16, 2026. The close release also said Dan Turco would serve as EVP of Commercial Activities, focus on LNG, and assist with gas-marketing integration. Read case
Texas Pacific Land: Where Should the Next Water-Service Effort Go?
Texas Pacific Land Corporation (TPL) is a landowner and owner of oil-and-gas royalty interests in West Texas. Its Water Services and Operations business, conducted through Texas Pacific Water Resources (TPWR), provides water sourcing, produced-water treatment, infrastructure development and disposal solutions to operators in the Permian Basin. Read case