June 16, 2025 Edition
At Valor, our goal is to keep you informed of the latest news and updates from the oil and gas industry. We are committed to sharing the insights and knowledge that our team gathers to help you stay ahead in this dynamic sector. From mergers and acquisitions to regulatory changes and technological advancements, we cover all the key developments that impact the industry. Stay tuned for weekly updates to keep you well-informed.
- Oil prices fall more than $1 barrel on reports Iran seeks truce with Israel
- Summary: Oil prices fell 1.3% as Israel-Iran strikes spared key infrastructure, despite initial surges and Friday’s 13% spike. Iran’s gas field saw partial shutdown but Strait of Hormuz flows remained uninterrupted. Iran rejected ceasefire talks amid attacks while OPEC+ holds spare capacity matching Iran’s output.
- Read more
- Iran suspends partial output at major gas field after Israeli attack
- Summary: Iran partially suspended production at South Pars, the world’s largest gas field, after an Israeli strike caused a fire, halting 12M cm/day output (4% of Iran’s 275 bcm annual production). The attack marks Israel’s first strike on Iran’s energy sector, escalating tensions that pushed oil prices up 9% Friday. While Iran consumes all its gas domestically due to sanctions, neighboring Qatar exports 77M tonnes annually from the shared field with Exxon and Shell.
- Read more
- European gas prices rise with Middle East conflict intensifying
- Summary: European gas prices rose 2.4% to April highs after Friday’s 4.8% jump as Israel-Iran clashes entered day four, raising fears of Strait of Hormuz disruptions. The key waterway handles 20% of global LNG shipments, though current flows remain unaffected. With Europe in peak stockpiling season, any supply interruption could significantly tighten markets amid escalating Middle East tensions.
- Read more
- Texas governor signs oil theft laws, funds $123M project
- Summary: Texas Governor Abbott signed 5 bills combating oilfield theft (SB 494/1806, HB 48) and allocated $123M for Midland-Odessa’s Beacon project to boost healthcare and economic growth. The laws create a DPS oilfield theft unit and task force to address rising pipeline thefts in the Permian Basin, which fuels Texas’ economy. Key measures include tax code changes (SB 529) and enhanced law enforcement tools to protect energy infrastructure from organized crime.
- Read more
- Baker Hughes reports U.S. rig count down 4 to 559 rigs
- Summary: U.S. rigs dropped 4 to 559 (oil -9 to 442, gas +5 to 114), marking a 35-rig annual decline. Canada added 2 rigs to 114 (gas +2 to 46), but remains 29 below 2024 levels. Offshore activity held at 13 rigs (-9 y/y). The report shows continued oil sector contraction with U.S. gas rigs up 16 annually while Canadian gas rigs fell 9. North American drilling activity remains depressed versus last year, with U.S. oil rigs down 50 and Canadian oil rigs down 20 year-over-year. The mixed results highlight shifting energy sector priorities amid changing market conditions.
- Read more
- Abu Dhabi-based consortium launches $32b takeover tilt for Santos
- Summary: An Abu Dhabi-led consortium (ADNOC/XRG, ADQ, Carlyle) proposed a $32B takeover of Santos at A$8.89/share (28% premium), aiming to boost XRG’s LNG capacity to 20-25Mtpa by 2035. The deal would give ADNOC Asia-Pacific LNG assets (Santos produced 5Mtpa in 2024, could reach 8Mtpa) but faces FIRB scrutiny over energy security concerns. Regulatory hurdles may include domestic gas supply conditions, though counterbids are unlikely given ADNOC’s strategic fit and Santos’ capital needs.
- Read more
- RRC mapping automation portal now available online
- Summary: Texas’ Railroad Commission launched RRC MAP, an online portal requiring oil/gas operators to update real-time gas facility data for power generation supply chains during emergencies. The system shares data with Texas’ Utilities Commission to identify critical infrastructure under SB 3/HB 3648 laws, linking upstream production to power plants. Operators receiving RRC emails must submit requested data, with training materials and compliance procedures available on the RRC website.
- Read more
Contact Valor Today
Contact us today if you need help outsourcing your oil and gas operations.
The information provided by Valor in this blog is for general informational purposes only, not to provide specific recommendations or legal or tax-related advice. The blog/website should not be used as a substitute for competent legal advice from a licensed professional attorney in your state.