February 2, 2026 – Oil & Gas 360

Devon Energy and Coterra Energy to Combine, Creating a Premier Shale Operator

February 2, 2026

(Oil & Gas 360) – OKLAHOMA CITY & HOUSTON–(BUSINESS WIRE)– Devon Energy (“Devon”) (NYSE: DVN) and Coterra Energy (“Coterra”) (NYSE: CTRA) today announced the signing of a definitive agreement to merge in an all-stock transaction. The combination will create a leading large-cap shale operator with a high-quality asset base anchored by a premier position in the economic core of the Delaware Basin.

Trump launches $12 billion minerals stockpile to boost US manufacturing, counter China

February 2, 2026

(Investing) – U.S. President Donald Trump is set to launch a strategic critical minerals stockpile with $12 billion in seed money from the U.S. Export-Import Bank, a Trump administration official familiar with the plan said. The investment marks Washington’s latest attempt to offset what policymakers view as Chinese manipulation of prices for lithium, nickel, rare earths and other critical minerals –

Exxon affiliate Imperial to end Canada’s Norman Wells oil production in 2026

February 2, 2026

(World Oil) – Imperial, a majority-owned affiliate of ExxonMobil, said it will end hydrocarbon production at its Norman Wells operations in Canada’s Northwest Territories in the third quarter of 2026, as the field reaches the end of its productive life. The decision follows continued production decline at the century-old asset, which includes producing wells located on natural and artificial islands in the Mackenzie River

Venezuela’s oil exports bounce to 800,000 bpd in January under US control -shipping data

February 2, 2026

(BOE Report) – Venezuela’s oil exports bounced to some 800,000 barrels per day (bpd) in January under U.S. control, from 498,000 bpd in December, following the capture of President Nicolas Maduro and the end of an oil blockade on the country, which has allowed traders to carry most exports, shipping data showed. Washington in December imposed an oil embargo on

Equinor exits Vaca Muerta with $1.1 billion sale to Vista Energy

February 2, 2026

(Oil Price) – Equinor will sell all its assets in Argentina’s Vaca Muerta basin to Vista Energy in a cash and stock deal worth $1.1 billion, the Norwegian energy major said on Monday as it continues to high-grade its international portfolio. The deal includes Equinor’s 30% non-operated interest in the Bandurria Sur asset and its 50% non-operated interest in the Bajo del Toro

API backs Interior effort to align commingling rules with modern drilling practices

February 2, 2026

(World Oil) – The American Petroleum Institute on Jan. 30 welcomed a proposal from the U.S. Department of the Interior aimed at modernizing federal commingling regulations, a move the industry group says could support increased oil and natural gas production while maintaining resource conservation standards. The proposed rule would update longstanding commingling requirements that govern the production of hydrocarbons from multiple reservoirs within a

Oil prices slump on U.S.-Iran talks; OPEC+ holds production

February 2, 2026

(Investing) – Oil prices fell sharply Monday as geopolitical tensions between the U.S. and Iran eased, prompting traders to lock in profits after a recent jump in prices. At 08:20 ET (13:20 GMT), Brent oil futures for April tumbled 5.1% to $65.82 a barrel and U.S. West Texas Intermediate crude fell 5.2% to $61.76 per barrel. Oil prices rose to near six-month highs

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