Exploration & Production (E&P)

WhiteHawk Energy to acquire 500-producing-well Haynesville mineral portfolio

March 2, 2026

(World Oil) – WhiteHawk Energy, LLC has entered into a definitive purchase and sale agreement to acquire natural gas mineral and royalty interests covering approximately 150,000 gross unit acres in the core of the Haynesville shale in Louisiana and East Texas. The assets include interests associated with roughly 500 producing natural gas wells and approximately 1,000 wells-in-process, permitted wells and undeveloped drilling locations. The

Greenland Energy advances 2026 Arctic drilling campaign with logistics agreement

February 27, 2026

(World Oil) – Pelican Acquisition Corporation and Greenland Exploration Ltd., which are in the process of combining to form Greenland Energy Company, have secured Arctic logistics support for planned drilling operations in the Jameson Land basin. The companies announced a strategic agreement with Canadian maritime operator Desgagnés to provide specialized ice-class vessels and Arctic beach-landing capabilities required to mobilize drilling equipment and personnel. The operations will be

bp ramps up shale drilling, targets 650,000 boed output by 2030

February 26, 2026

(World Oil) – bp Plc is aggressively expanding shale drilling, bucking the conservative approach of many rivals, as the UK oil giant seeks to reverse years of anemic output. The company’s BPX Energy unit plans to increase production from shale fields by 8% this year, BPX Chief Executive Officer Kyle Koontz said during an interview in Houston. Shale output equivalent to 500,000 bpd would make

MCM Energy grows Permian position with Battalion asset purchase and new financing

February 25, 2026

(World Oil) – MCM Energy Partners has completed its acquisition of crude oil and natural gas assets in the Delaware basin from Battalion Oil Corporation, expanding its operated footprint in the core of the Permian basin and adding new development inventory in West Texas. The assets, located in the West Quito Draw area of Ward County, Texas, include approximately 6,207 net acres

Shale giant Diamondback says global oil glut fears are fading

February 24, 2026

(World Oil) – Fears of a global oil glut that had been expected to crater crude prices are fading amid resilient energy demand, according to Permian basin driller Diamondback Energy Inc. As recently as mid-December, the prevailing outlook among respected oil watchers was that a huge surfeit was in the making that would send crude prices tumbling. Everyone from the International Energy Agency to prominent

North Dakota operators likely to keep crude output steady this year, regulator says

February 24, 2026

(BOE Report) – Crude output is expected to be relatively steady in North Dakota in February, the third-largest U.S. oil-producing state, a state regulator said on Monday, with little change expected in drilling activity. Operators are likely to hold their drilling rig count, an indicator of future output, near current operational levels of 26 for the year, said Nathan Anderson, director

Murphy Oil’s offshore West Africa well comes up dry

February 24, 2026

(World Oil) – Murphy Oil has plugged and abandoned its Caracal-1X exploration well offshore Côte d’Ivoire after the well encountered hydrocarbon shows, but failed to establish commercial volumes. The Caracal-1X well in Block CI-102 reached a total depth of 8,534 ft (2,601 m) before being declared a dry hole. The results will inform Murphy’s ongoing assessment of remaining prospectivity across its

GOP investigates environmental groups opposing Alaska’s Willow oil project

February 24, 2026

(World Oil) – House Republicans have launched an investigation into six environmental organizations over their opposition to a $9 billion oil project developed by ConocoPhillips in Alaska. In letters made public Friday to the Center for Biological Diversity, the Defenders of Wildlife and other conservation groups, lawmakers said they were concerned about “coordination with other activist special interest groups” as

ConocoPhillips explores $2-billion sale of Permian basin assets

February 23, 2026

(World Oil) – ConocoPhillips is exploring a sale of some of its Permian basin assets as part of a broader streamlining of its portfolio, according to people familiar with the matter. The assets, picked up over the years through deals with Concho Resources Inc. and Shell Plc, are expected to fetch about $2 billion, the people said, asking not to be

Wood Mackenzie says Big Oil’s strategy has snapped back to upstream

February 20, 2026

(Oil Price) – If there was any lingering doubt about what’s keeping Big Oil executives up at night, the fourth-quarter results cleared it up. It’s not slogans. It’s not transition optics. It’s whether they have enough high-quality barrels to avoid production decline in the 2030s. The majors are refocusing hard on upstream portfolio renewal for the next decade, according to WoodMac,

Ecopetrol posts 1.94 Bboe in proved reserves, replaces 121% of production in 2025

February 20, 2026

(World Oil) – Ecopetrol reported proved reserves of 1.94 Bboe at year-end 2025, representing a 2.7% increase from 2024 and marking the company’s highest annual reserve additions in four years. The Colombian national oil company added 300 MMboe of proved reserves during 2025 and achieved a reserves replacement ratio of 121%, driven primarily by enhanced recovery projects and improved operational performance across

Texas producers gain access to new electricity procurement platform through TIPRO partnership

February 20, 2026

(World Oil) – The Texas Independent Producers & Royalty Owners Association (TIPRO) has launched a new electricity procurement initiative aimed at helping oil and gas operators manage rising power demand and costs across Texas. The TIPRO Power Texas program, developed in partnership with Arise Energy, provides member companies with access to competitive electricity sourcing options through a digital procurement platform that connects users

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