All the Action, All the Drama, and No Big Foot

Reese Energy Consulting today hand-picks three news nuggets to share, proving our belief that dull moments in the oil and gas industry are as likely to manifest as an authenticated Big Foot sighting.

We start with a big headliner announcing regional banks are in it to win it when the “it” comes to financing fossil fuels deals. And these smaller guys are hungry for more, recognizing oil and gas aren’t going away any time soon and offering competitive rates and terms in a more friendly environment. Loans among the top three regional banks have climbed 70% since 2022. BOK Financial Chief George Kaiser was rumored to say, “Ya’ll come, ya’ll come.”

EQT, the nation’s largest natural gas producer looking to offload its non-operated Appalachian assets, has found sweet harmony with Equinor looking to offload its operated assets there. In a “Let’s just swap” deal, EQT will add a total 36,000 net acres in Ohio and Pa., 150 MMCFED, the remaining 16.25% ownership of its gathering systems in Lycoming County, Pa., and a gas buyback agreement through 1Q 2028 that will increase EQT’s interest in certain Chesapeake-operated Marcellus gas units to 25.7%. Equinor will also pony up $500 million to balance the deal.

Last but not least comes the proxy fight between SilverBow Resources and its largest investor, Kimmeridge entering a sundown showdown. After two years and eight different merger packages that would combine their Eagle Ford assets into one $3.6 billion enterprise, the investment firm has withdrawn its latest proposal and fired back with loaded language in a press release. Kimmeridge now looks to upset three SilverBow board seats with its own peeps. In other news, Bonnie Raitt was heard singing, “I can’t make you love me if you don’t.” What do you think? Learn more about REC and our oil and gas consulting services at