Permian Archives - Oil & Gas 360

Ovintiv adds 240 Permian, Montney drilling locations in $460-million acquisition push

August 27, 2026

(World Oil) – Ovintiv has entered into more than 60 transactions totaling approximately $460 million so far in 2026, adding about 41,000 net acres and 240 drilling locations across its Permian and Montney assets. The acquisitions are part of Ovintiv’s 2026 “ground game” program, which targets smaller transactions intended to expand and strengthen the company’s existing acreage positions. The 240 net locations include 190 base locations and 50

Exxon turns to automated drilling in the Permian in push for higher oil output

August 24, 2026

(BOE Report) – In rural west Texas where oil rigs and pump jacks dot the sparse flat landscape, an ExxonMobil contractor sits in a small office on a drilling rig, using controls on a screen to operate robotic machinery and move tall steel pipes weighing roughly 2,000 pounds. This work would usually require human overseers standing on the rig floor,

U.S. upstream M&A declines in Q2, but Permian demand remains robust

August 6, 2026

(World Oil) — U.S. upstream mergers and acquisitions slowed sharply in the second quarter as crude price volatility complicated deal valuations, but competition for premium Permian basin inventory remained strong and activity is expected to accelerate later this year, according to Enverus Intelligence Research (EIR). Total upstream M&A reached $9.1 billion during the quarter, down 76% from the first quarter and 33% from a

America extends its lead over Russia and Saudi Arabia in oil output

July 14, 2026

(Oil Price) – While the United States has been the world’s biggest consumer of oil for decades, it became the largest oil producer, too, back in 2018, and has retained that crown ever since. The shale revolution and the growth in the Permian oil production have allowed the U.S. not only to retain the top spot ahead of Russia and Saudi

Lower costs see oil sands emerge as one of North America’s most attractive plays

June 16, 2026

(BOE Report) – Alberta’s oil sands have emerged as one of North America’s most attractive oil plays as costs rise in competing basins like the Permian in Texas, according to a recent report. The oil sands hold 177 billion barrels of proved reserves, making it the largest play in North America by a wide margin. Existing operations have some of the continent’s lowest

Canada’s energy basins: Onshore, offshore, frontier, and what comes next

May 14, 2026

(By Oil & Gas 360) Part II – If Part I is about what Canada has built, Part II is about what it hasn’t fully unlocked. Because the next phase of Canada’s energy story is not just in the Western Canadian Sedimentary Basin. It’s onshore, it’s offshore, it’s frontier, and increasingly, it’s global. For decades, Canada’s oil and gas system was

SM Energy completes Civitas merger, expands Permian and U.S. shale footprint

January 30, 2026

(World Oil) – SM Energy Company has closed its all-stock merger with Civitas Resources, Inc. following shareholder approval at special meetings held Jan. 27. The combined company will continue operating under the SM Energy name. The transaction creates a larger, oil-focused U.S. independent with a broader footprint across core shale basins, including an expanded position in the Permian Basin. Management has previously outlined plans

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

Coterra, Devon in talks over potential Permian mega-merger

January 15, 2026

(World Oil) – Coterra Energy Inc. is exploring a combination with Devon Energy Corp., according to people familiar with the matter, a potential tie-up between two shale explorers that would be among the biggest oil and gas deals in years. The companies — both with large positions in the oil-rich Permian Basin — are holding talks about a possible merger, said the people,

Halliburton deploys matrix-body directional bit for longer Permian runs

January 7, 2026

(World Oil) – Halliburton has introduced the Hypersteer MX directional drill bit, a matrix-body technology aimed at reducing well construction time in abrasive, high-flow environments. The bit merges shankless directional steerability with the durability of a matrix body to support longer drilling runs and fewer trips. Directional bits have historically required steel shanks to achieve steerability, leaving critical components exposed to erosion during

Targa strengthens Permian presence with $1.25 billion deal for midstream firm

December 1, 2025

(BOE Report) – Pipeline operator Targa Resources said on Monday it would buy Stakeholder Midstream in a $1.25 billion all-cash deal, expanding its processing capacity in the key Permian Basin. Dealmaking in the midstream sector has been picking up pace as companies look to cut costs or add scale and gain access to attractive oil- and gas-producing regions, as well

Permian gas wave sparks biggest pipeline buildout since the shale boom

November 24, 2025

(Oil Price) – Growing domestic and export demand for Permian’s natural gas is pushing pipeline developers to invest in new pipeline capacity in the U.S. Gulf Coast. Chemical and manufacturing industries and data centers looking for reliable energy supply drive increased domestic consumption, while the booming LNG exports from the Texas and Louisiana coasts, and at least half a dozen new

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