Friday, May 22, 2026

Who’s Next in Permian? A List of Targets After Concho Deal

From Bloomberg Oil-industry watchers have been predicting a wave of buyouts among U.S. shale drillers for years. Has the starting gun finally fired? Concho Resources Inc.’s $8 billion buyout of rival RSP Permian Inc., announced Wednesday, is being hailed by analysts as a sign the era of consolidation is at hand for explorers buoyed by rising oil prices. At the least,

Weekly Oil Storage: Minor Build

The EIA released its weekly Petroleum Status Report today, outlining how national oil and refined product stocks have changed in the last week. Crude oil stocks rose by 1,643 MBBL last week to 429,949 MBBL, from 428,306 MBBL. This is 19% below the 533,977 MBBL that was in storage at this point last year, and is 1% below the five-year