January 27, 2026 - Oil & Gas 360

Matador grows Delaware basin position, reports improved well performance

January 27, 2026

(World Oil) – Matador Resources Company said it increased its oil hedging coverage, expanded its Delaware basin acreage position and reported improved well performance from recent development activity in Lea County, New Mexico. The company now has approximately 35%–40% of its expected 2026 oil production hedged using costless collars, with a weighted-average floor price of about $52/bbl and a ceiling near

Saudi Aramco raises $4 billion as oil prices remain under pressure

January 27, 2026

(Oil Price) – Saudi oil giant Aramco has issued a $4-billion bond as it tapped the debt market for the first time this year amid persistently weak oil prices in the low $60s per barrel. Aramco, the world’s top crude exporter and biggest international oil company, on Monday announced the start of issuing U.S.-dollar denominated international bonds under its Global Medium Term Note

Power plant outages leave largest US regional grid with thin operating margin

January 27, 2026

(BOE Report) – The largest U.S. regional electric grid on Tuesday reported nearly 18 gigawatts of power plant outages, leaving a region of 67 million people with a thin buffer of power supplies against frigid weather and a forecast for record-breaking winter demand. The PJM Interconnection reported that most of the generation outages are due to power plants being forced

Big freeze disrupts U.S. oil and gas production

January 27, 2026

(Oil Price) – Winter storm Fern has slashed U.S. oil and gas production as operators curtailed output amid the big freeze. Over the weekend, the storm led to producers losing up to 2 million barrels per day (bpd) of oil production, or about 15% of total U.S. oil output, according to estimates by analysts and traders cited by Reuters. According to estimates by

Noble secures $1.3 billion in new rig contracts, enters Norway floater market

January 27, 2026

(World Oil) – Noble Corporation has announced new contract awards totaling approximately $1.3 billion, adding backlog across nine rigs and marking the company’s entry into the Norwegian harsh-environment floater market. The awards reflect continued multi-year demand for deepwater and offshore drilling and are expected to materially improve fleet utilization over the coming years. Noble said the new contracts increase the percentage

China soaks up the crude oil glut, but only if the price is right: Russell

January 27, 2026

(BOE Report) – Where exactly is the expected supply glut in the global crude market? The best answer is China, which saw storage flows surge in December, resulting in a surplus of more than 1 million barrels per day for 2025. China’s surplus of crude oil jumped to 2.67 million bpd in December, up from 1.88 million bpd in November

Oil climbs 1% on US storm disruption, Kazakh oilfield’s slow restart

January 27, 2026

(Investing) – HOUSTON – Oil prices rose by around 1% on Tuesday as producers reeled from a winter storm that hobbled crude production and affected refineries on the U.S. Gulf Coast over the weekend, with the slow restart of output from the Tengiz oilfield in Kazakhstan further boosting prices. Brent crude futures were up 61 cents or 0.93%, at $66.20 a barrel

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