Permian Archives - Oil & Gas 360

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

Plains All American’s Permian pipelines facing quality issues, sources say

September 16, 2025

(BOE Report) – Plains All American’s crude oil pipelines linking the Permian shale basin to the Corpus Christi export hub in Texas are facing quality issues related to high mercaptans, or naturally-occurring sulfur compounds, according to sources familiar with the matter and a notice seen by Reuters. Starting October 1, Plains will charge a half-dollar fee on every barrel that

Ten Permian counties account for 93% of U.S. oil production growth since 2020

September 2, 2025

(World Oil)– Between 2020 and 2024, total crude oil and lease condensate production in the United States grew by 1.9 million barrels per day (bpd), 93% of which was produced from just 10 counties in Texas and New Mexico, according to a new report from the Energy Information Administration (EIA). Production from the rest of the U.S., including producing areas

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