Crescent Energy will acquire Vital Energy in a $3.1 billion all-stock deal, creating a top-10 independent oil and gas producer with assets across the Permian, Eagle Ford and Uinta basins.
Oil producers in North Dakota are planning to cut rigs and frac crews as prices dip below breakeven levels, with the state expecting a drop in rig count to 27 by August, according to its mineral resources department.
Top U.S. oilfield firms SLB, Halliburton, and Baker Hughes brace for a downturn as falling oil prices force producers to cut drilling budgets and scale back activity, particularly in North America.
The main Colombian guild for oil, gas, and energy service companies proposed on Tuesday several measures to mitigate the drop in exploration and production (E&P) of oil and to take on the natural gas deficit in the South American country.
New York clears key air permits for the 414-mile Iroquois Pipeline Expansion Project, advancing a compression-only upgrade aimed at ensuring gas reliability for downstate utilities despite climate policy concerns.
Mexico is exploring a potential expansion of fracking to reduce its reliance on U.S. natural gas imports, which currently meet 72% of its demand. Most of the imported gas is delivered via pipeline from the Permian and Eagle Ford Basins.
U.S. shale producers face rising costs and geological constraints in the Permian Basin, where aging wells yield more water and gas, signaling a potential peak in oil output.
Hope Gas’ proposal to abandon over 1,000 miles of pipeline across more than 20 West Virginia counties is drawing sharp criticism from local producers, who say the move could cut off access to critical infrastructure and threaten small well operations.
Whitecap Resources Inc. and Veren Inc. have entered a $15 billion all-share transaction that will combine their assets, creating a leading Canadian light oil and condensate producer with key holdings in Alberta’s Montney and Duvernay regions.
Expand Energy, formerly known as Chesapeake Energy and the biggest natural gas producer in the U.S., said on Thursday it was on track to boost output by more than 5% in 2026 from levels expected in 2025 so long as market conditions warrant such a move.
Iraq reaffirmed its commitment to the OPEC+ agreement on Monday and said it would present an updated plan to compensate for any overproduction in previous periods, according to a statement from the Iraqi oil ministry.
North Dakota's oil production has dropped by up to 150,000 bpd due to extreme cold, with wellhead natural gas output also affected. Warmer weather is expected to bring relief soon.
Exxon Mobil seeks permits for its eighth project in Guyana, focusing on gas production. The company aims to boost capacity to 1.7 million barrels per day by 2029 while supporting Guyana's LNG development.
U.S.-based Diversified Energy said on Monday it will buy private equity-owned Maverick Natural Resources for $1.28 billion, including debt, to expand into the oil and gas-rich Permian Basin, sending its shares up 4.3%.
Donald Trump's pick for secretary of the interior, Doug Burgum, said on Thursday he will vigorously pursue the president-elect's goals of maximizing energy production from U.S. public lands and waters, calling it key to national security.
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