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• Permian Operator Lilis Energy Receives Take-Private Offer
  Struggling Permian Basin operator...
  
  

  
  
  Struggling Permian Basin operator Lilis Energy Inc. said Jan. 13 it has received a non-binding cash take-private offer from a major shareholder.
  
  The offer, made by Minneapolis-based alternative investment firm Värde Partners Inc., continues a trend of take-private offers for public oil and gas companies that began to emerge last year.
  
  Värde Partners is proposing to acquire the roughly 75% of outstanding shares of Lilis common stock it doesn’t already own in a cash merger transaction for $0.25 per common share. The non-binding cash offer is expected to expire Feb 17.
  
  

  
  

  
  

  
  

  
  
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• Oil steadies as Chinese economy offsets trade optimism
  NEW YORK — Oil prices steadied on Friday as sluggish economic growth in China, the world’s biggest...
  NEW YORK — Oil prices steadied on Friday as sluggish economic growth in China, the world’s biggest crude importer, raised concerns over fuel demand and countered optimism from the signing of a China-U.S. trade deal.
  
  Brent crude futures rose 23 cents to settle at $64.85 a barrel. U.S. West Texas Intermediate (WTI) crude futures rose 2 cents to settle at $58.54 a barrel.
  
  For the week, Brent fell 0.2%, while WTI lost 0.8%
  
  China’s economy, the world’s second-largest, grew by 6.1% in 2019, its slowest expansion in 29 years, government data showed on Friday.
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• Mark Papa expects consolidation among smaller shale players
  Slowing US oil production growth over the next five years will likely encourage oil giants to swallow...
  Slowing US oil production growth over the next five years will likely encourage oil giants to swallow smaller shale firms, says Schlumberger non-executive chairman and shale pioneer Mark Papa. Papa sees US shale output rising by just 400,000 barrels per day this year and by 100,000 to 500,000 bpd through 2025, in part due to high shale well decline rates and the shorter life of shale basins.

  
  

  He cited the shorter life and high decline rates of shale reservoirs such as the Bakken in North Dakota and the Eagle Ford in Texas.

  
  

  “I’m not saying that the U.S. shale oil will go away but I’m saying it will become a less powerful force as we go through the 2020s than it was in the previous decade,” he said.

  
  

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• Record oil volumes shipped from Texas port
  Infrastructure buildout in Corpus Christi, Texas, has helped the port overtake other hubs such as Houston...
  Infrastructure buildout in Corpus Christi, Texas, has helped the port overtake other hubs such as Houston and Beaumont, Texas, in terms of crude export volumes, shipping a record 1.59 million barrels per day in late December, according to ClipperData. "Those (export) numbers are truly astonishing, and at times, Corpus volumes have accounted for more than half of all crude exports moving out of the US on a weekly basis," said John Zanner of Uplift Energy Strategy.
  
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• 2020: Global carbon emissions are likely to rise again
  Global greenhouse gas emissions continue to rise. To stay on track for limiting the rise in global temperatures...
  Global greenhouse gas emissions continue to rise. To stay on track for limiting the rise in global temperatures to 2°C, emissions need to shift into a lower gear – contracting in some markets, fuels, and sectors – within the next 12 months. The problem is well understood, but responses are not: just look at the range of opinion post-COP 25 in Madrid. The shift to zero-carbon technologies – in terms of corporate strategy, capital investment, and human capital deployment – has progressed at a fast clip in 2019. This pace of change will not slow down in the year ahead. But global carbon emissions are still thought to have risen this year. How quickly society can respond to the global climate challenge will be reflected in 2020 emission data; the bellwether for progress.
  
  From David Brown, Head of Markets & Transitions, Americas - WOODS MACKENZIE
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