Diversified Energy Company Plc has announced a $550 million acquisition of Canvas Energy, a move that deepens its operating footprint in Oklahoma and strengthens its portfolio of producing assets. The transaction brings approximately 23 high-quality producing wells into Diversified’s portfolio, alongside a significant expansion of acreage positions that complement the company’s existing operations in the […] The post $550MM Canvas Acquisition Expands Diversified Energy’s Oklahoma Foot...| OklahomaMinerals.com
Ian M. Stevenson | EENews.net | Falling royalty rates for oil and gas production are poised to strike one state more than any other: New Mexico. Congress this year cut federal oil and gas royalty rates by 25 percent, reducing the income that states earn for leased mineral rights on public lands in their territory. […]| OklahomaMinerals.com
The U.S. oil and gas industry is entering a period of retrenchment, marked by falling budgets, mass layoffs, and a slowdown in drilling activity. With oil prices hovering near breakeven levels for many producers and a wave of consolidation reshaping the sector, more than twenty publicly traded operators have announced capital expenditure reductions totaling about […] The post U.S. Oil Producers Slash 2025 Spending as Prices Slide and Consolidation Mounts appeared first on OklahomaMinerals.com.| OklahomaMinerals.com
Authored by Jill McLaughlin via The Epoch Times, | California regulators fearing a dramatic drop in gasoline supply placed a five-year pause on Gov. Gavin Newsom’s penalty on oil industry profits Aug. 29. The decision is a blow to Newsom’s legislation aimed at penalizing the oil industry for allegedly driving up the state’s gas prices in 2022. […]| OklahomaMinerals.com
Reporting by Gavin Maguire | (Reuters) – U.S. power developers are planning to sharply boost natural gas and hydropower generation capacity as they are cutting back on plans to add new solar and wind farms, according to recent data on the U.S. power capacity pipeline. As of mid-2025, U.S. power developers had just over 114,000 […]| OklahomaMinerals.com
Targa Resources Corp. has launched a non-binding open season for its proposed Forza Pipeline Project, an interstate natural gas pipeline aimed at expanding capacity from the Delaware Basin in southeast New Mexico to the Waha Hub in Texas. The announcement underscores the company’s effort to accommodate rising natural gas production in one of the most […] The post Targa Advances Forza Pipeline Linking Delaware to Waha appeared first on OklahomaMinerals.com.| OklahomaMinerals.com
Source: EIA | Between 2020 and 2024, total crude oil and lease condensate production in the United States grew by 1.9 million barrels per day (b/d), 93% of which was produced from the Permian Basin and just 10 counties in Texas and New Mexico. Production from the rest of the United States, including producing areas […] The post Ten Counties in the Permian Basin Account for 93% of U.S. Oil Production Growth Since 2020 appeared first on OklahomaMinerals.com.| OklahomaMinerals.com
Canadian midstream operator Enbridge has approved final investment decisions on two new gas transmission projects, marking a strategic expansion to meet rising demand across North America. The company is moving ahead with the Algonquin Reliable Affordable Resilient Enhancement project, known as the AGT Enhancement, and the Eiger Express Pipeline, a large-scale development tied to its […] The post Enbridge Backs Northeast Supply and Gulf LNG Demand appeared first on OklahomaMinerals.com.| OklahomaMinerals.com
By Felicity Bradstock for Oilprice.com | Following the massive growth in global renewable energy capacity over the last decade, companies and governments have been steadily increasing investment in battery storage to help improve the stability of their green energy supply. As countries worldwide develop their renewable energy industries, aiming to shift from a reliance on […] The post The Battery Storage Market Is Set to Grow Ninefold by 2040 appeared first on OklahomaMinerals.com.| OklahomaMinerals.com
By Michael Kern for Oilprice.com | TotalEnergies, along with its partners QatarEnergy and the national oil company of the Republic of the Congo, Société Nationale des Pétroles du Congo (SNPC), has been awarded the Nzombo offshore exploration permit, the company announced Monday. The consortium plans to drill one exploration well before the end of 2025. TotalEnergies will operate […] The post TotalEnergies Secures New Offshore Exploration Permit in Congo appeared first on OklahomaMiner...| OklahomaMinerals.com
By Jarrett Renshaw-(Reuters) -President Donald Trump’s administration is expected to rule on a growing backlog of requests from small oil refiners seeking relief from U.S. biofuel laws as early as Friday. Still, it will delay a decision on whether larger refiners must compensate by boosting their own biofuel blending, according to two sources familiar with […]| OklahomaMinerals.com
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Story Credit, David Wethe at Bloomberg, as reported on Business Insider.com | Shale industry legend Harold Hamm is looking ahead to the next potential breakthrough in US crude oil production. A turn toward new practices would come as site depletion becomes a growing worry for the sector while rising costs mean drillers need higher crude […]| OklahomaMinerals.com
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