TenOaks Energy Advisors

Friends and Colleagues - The year in oil & gas was a bit like the Yogi Berra quote, "You can observe a lot just by watching." Significant downward commodity price swings from late 2022 led to a very slow start to middle-market A&D to kick off 2023. Not exactly the start many of us were hoping for! However, the ever-resilient “passive” strategies (minerals and non-op) showed great strength and lifted tides for TenOaks and RedOaks throughout 2023. Minerals as an asset class continued to draw capital from a variety of places and opportunistic exits from savvy teams seemed to lead to imminent fundraising for the next vehicle. We love seeing this segment develop and having a front row seat to the amazing results the asset class has generated through varied market cycles. The non-op working interest market continues to be in full swing with both public and institutional players playing key roles. Capital is prevalent and creating viable exit opportunities for well-balanced non-op portfolios with compelling growth potential, non-op wellbore-only PDP packages, and simple AFE purchases. The operated property market was alive and well in the second half of the year, however, one area that was strong out of the gate in '23 was the Corporate deal market. Public E&Ps were very much open for business, as we saw significant combinations, acquisitions, and interest in deal-making at a pace that did not let up all year. For 2023, Corporate deals totaled approximately $165B, accounting for 85% of total M&A in the E&P space. This was certainly helped by the strong returns seen in 2022 for energy equities and a result of their thirst for scale and a desire to control the remaining Tier 1 inventory in the U.S. ■  TenOaks is proud to have launched our Renewables & Sustainability practice in 2023 ■  TenOaks/RedOaks announces another banner year in 2023 with $1.4B in upstream sell-side transactions

**The Drillers and Dealers Event is this Monday!** On behalf of Oklahoma Children's Hospital OU Health, we extend a sincere thank you to all of the generous sponsors who make this event possible. Your support is invaluable, and we are grateful for your commitment to our cause. We are proud to have sponsors from all sectors of the industry, including Operators, Non-Operators, Midstream, Minerals, OFS, A&D Advisory, Private Equity, Banking, Legal, Land Services, Gas Marketing, Energy Insurance, Energy Industry Recruiting, Reserves, Accounting, Audit & Tax, and more.

Join us on June 3rd in Oklahoma City for a great networking event benefiting Oklahoma Children's Hospital OU Health and made possible by the many generous sponsors reflected. See you there!

Looking to add a rock solid geologist to the team! #nopuninteded #nowhiring #oilandgas

We look forward to seeing all of our friends on June 3rd!

We are hiring a Reservoir Engineer. Come join the team! https://lnkd.in/gf9Db5iU

TenOaks Energy Advisors is proud to announce ConocoPhillips' successful operated leasehold divestiture in the Delaware Basin and we are excited to preview the upcoming MARSHALL & WINSTON, INC. acquisition opportunity.

TenOaks Energy Advisors is proud to announce ConocoPhillips' successful operated leasehold divestiture in the Delaware Basin and we are excited to preview the upcoming MARSHALL & WINSTON, INC. acquisition opportunity.

Network, Do Good, & Feel Good Too! Become a Sponsor at the 6th annual Drillers & Dealers networking event! All sponsorships will directly benefit Oklahoma Childrens Hospital, a 501c charity. We’re currently updating the event’s website for an even better experience, but you can already make your mark by visiting www.DrillersAndDealers.com for online donations and sponsorships. Looking forward to seeing everyone June 3rd at Drillers & Dealers – An Energy Networking Event! A huge THANK YOU to our friends and colleagues at the following companies for sponsoring this year's event: 89 Energy Ascent Resources Caliber Resource Partners | CRP XII Canvas Energy CHARTERenergy Continental Land Resources, LLC CVR Energy, Inc. Detring Energy Advisors Diamondback Energy Dudley Land Company Eagle River Energy Advisors, LLC East West Bank Energy Domain Energy Search Associates EnergyNet Gulfport Energy Corporation Kane Russell Coleman Logan PC Locke Lord LLP Novus Consulting Opportune The Petroleum Alliance of Oklahoma Quantum Capital Group Reign Capital Holdings LLC Ryan Whaley Southwest Energy LP TenOaks Energy Advisors THREE POINTS LAND TPH&Co. Upstream Energy Services Ventana Exploration and Production LLC Pin Oak Energy Partners LLC Foundation Energy CIBC Macquarie and more...

We are growing our team. Please reach out if you or someone in your network is interested.