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Valor | Energy Connection – July 27, 2026

Posted on by Valor

July 27, 2026 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.


  • Expand Energy to acquire Twin Eagle in $1.25 billion natural gas marketing deal
  • Summary: Expand Energy agreed to acquire natural gas marketer Twin Eagle Holdings for $1.25 billion in a transaction expected to close in the third quarter of 2026. Twin Eagle markets over 5 Bcf per day of natural gas and manages 44 Bcf of storage capacity alongside 2 Bcf per day of firm transportation. Upon closing, the combined entity expects to market about 14 Bcf per day of natural gas, while generating $200 million in initial annual EBITDA and $150 million in annual synergies by the end of 2028.
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    Oil market’s glut narrative just blew up
  • Summary: Brent crude topped $100 per barrel as supply disruptions struck multiple global chokepoints simultaneously, tightening markets. Concurrent strikes suspended 1.7 million barrels daily in Kazakh flows at Novorossiysk, while Strait of Hormuz flows fell from 20 million barrels daily. Global crude demand dropped nearly 5% in Q2, with European diesel consumption down 5.7% in May and China’s diesel and gasoline demand falling 10% and 5% respectively.
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  • Matador Resources acquires Paloma Permian, Ridge Runner in Delaware
  • Summary: Matador Resources agreed to acquire Delaware Basin assets from Paloma Permian and Ridge Runner Resources, expanding its total position to approximately 240,000 net acres. A subsidiary will buy Paloma Permian for $1.275 billion, acquiring 16,235 net undeveloped acres in Eddy and Lea counties, 156 net locations, and estimated third-quarter production of 10,600 to 11,600 boed (57 percent oil). The Ridge Runner deal adds at least 150 net operated locations in the Woodford play of west Texas and southeast New Mexico.
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  • U.S. oil drillers take a break as oil prices hover near $100
  • Summary: The total number of active U.S. drilling rigs fell to 587, as oil rigs decreased by 2 to 450, gas rigs rose by 1 to 127, and miscellaneous rigs held at 10. Weekly U.S. crude oil production averaged 13.798 million bpd for the week ending July 17, down from 13.861 million bpd the prior week but up 525,000 bpd year-over-year. Frac spread crews fell by 4 to 196, while Permian Basin rigs dropped by 1 to 258 as Brent crude traded down to $95.96 (-4.70%) and WTI dropped to $88.30 (-4.22%).
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  • Energy Transfer, Sunoco, two others announce move to Texas
  • Summary: Four oil and gas companies, including Energy Transfer, Sunoco LP, SunocoCorp LLC, and USA Compression Partners, jointly announced their move from Delaware to Texas. The redomiciliations took effect on July 6, becoming effective on July 13 for market purposes, with all four companies now based in Dallas. Energy Transfer operates 140,000 miles of pipelines across 44 states, while Sunoco operates 14,000 miles of pipelines and at least 160 terminals as USA Compression Partners serves as a gas provider.
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    Oil near $100 puts Fed and peers in interest-rate spotlight
  • Summary: Central bankers across the Group of Seven are evaluating potential interest rate responses as crude oil approaches $100 per barrel, threatening to reignite energy-driven inflation. Ahead of the Federal Reserve’s July 29 decision, U.S. gross domestic product is projected to show an annualized 2.1% expansion in the second quarter. Globally, euro-zone inflation picked up to 2.9% in July, South Korean exports surged over 50% year-on-year in early July, and Colombia faces a 12.5% rate consensus.
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    EQT misses quarterly profit estimates on weak gas prices, raises production forecast
  • Summary: EQT posted an adjusted second-quarter profit of 39 cents per share, missing estimates of 40 cents as natural gas futures dropped 17.5% to $3.020 per mmBtu. Despite its realized price dropping to $2.65 per thousand cubic feet equivalent, the company’s total sales volume rose 11% to 634 bcfe while capital expenditures grew 20.2% to $666 million. EQT raised its full-year 2026 production forecast to between 2.38 tcfe and 2.45 tcfe and expects third-quarter total sales volume of 570 bcfe to 620 bcfe.
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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.

Valor | Energy Connection – July 20, 2026

Posted on by Valor

July 20, 2026 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.


  • Magnolia buys WildFire Energy in $4.06 billion deal, adds 500 miles of pipelines
  • Summary: Magnolia Oil & Gas agreed to acquire WildFire Energy for $4.06 billion, adding 500 miles of pipelines and expanding its position to over 1.25 million net acres. The transaction includes assets producing about 53,000 boe/d with 70% oil, $600 million in assumed notes, and 32.2 million common shares issued to WildFire owners. Magnolia expects at least $100 million in annual cost savings and operational synergies from the purchase, while also boosting its quarterly dividend by 9% to $0.18 per share.
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    Oil’s oversupply narrative just died
  • Summary: Renewed geopolitical hostilities pushed Brent above $85 per barrel as the oversupply narrative flipped into fears of global shortages. Meanwhile, Asian LNG buying set a July record of 23 million tonnes due to extreme heat, driving Asia’s benchmark JKM price to $19.5 per MMBtu while European imports dropped to 6.90 million tonnes. Oil market data also revealed that China’s June crude imports fell 41% year-over-year to 7.12 million b/d, while Nigerian production surged to 1.56 million b/d.
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  • US energy firms boost rig count to highest since April 2025, Baker Hughes says
  • Summary: U.S. energy firms increased the total rig count by seven to 588 for the week ending July 17, marking a fifth consecutive weekly gain and placing the count 44 rigs or 8% above last year’s level. Baker Hughes reported that oil rigs rose by seven to 452, gas rigs held at 126, and miscellaneous rigs stayed at 10. Statewide counts rose by two to 50 in Oklahoma and by two to 274 in Texas, as the EIA projected crude output will reach 13.8 million bpd and gas output will reach 111.3 bcfd in 2026.
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  • U.S. crude oil, gasoline inventories still falling
  • Summary: The American Petroleum Institute reported that U.S. crude oil inventories fell by 564,000 barrels for the week ending July 10, while gasoline stocks dropped by 1.664 million barrels. Another 2.99 million barrels left the Strategic Petroleum Reserve to reach 316.5 million barrels, leaving the reserve 415 million barrels below maximum capacity. U.S. crude production rose to 13.860 million bpd, up 475,000 bpd from last year, as Brent crude rose 2.24% to $85.17 and WTI gained 1.92% to hit $79.64.
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    USA LNG growth exceeding all expectations, Yergin says
  • Summary: U.S. LNG exports are poised to become the nation’s second largest net export by 2031, with feedgas demand projected to double to 36 billion cubic feet per day over the next five years. An S&P Global study projects that the sector will support 555,000 annual jobs, contribute $1.4 trillion to GDP, and raise household gas costs by just 1.6 percent. Concurrently, the EIA forecasts U.S. LNG gross exports to rise from 15.1 billion cubic feet per day in 2025 to 17.4 billion in 2026 and 18.6 billion in 2027.
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    NOG maintains 2026 production outlook as Permian volumes recover
  • Summary: NOG reaffirmed its 2026 guidance despite Q2 curtailments of roughly 7,000 boed due to negative Waha gas pricing and the deferral of three net wells. Stronger basin performance helped NOG project Q2 oil production between 67.5 Mboed and 68.25 Mboed, with Williston exceeding forecasts by 4% and Uinta by 11.5%. Capital spending for Q2 reached $190 million to $200 million, while NOG deployed $45 million into 30 acquisitions and completed its Duvernay deal for CA$237 million and 3.7 million shares.
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    Why gasoline prices don’t always move in lockstep with crude oil prices
  • Summary: Crude oil usually accounts for over half the cost of gasoline, with the remainder determined by refining, transportation, distribution, and taxes. Gasoline markets face tighter global conditions as Russian refinery processing rates hit 21-year lows, Middle Eastern refining facilities face disruptions, and Asian exports remain constrained. To help meet fuel demand, U.S. refineries operated at 95.8% of capacity for the week ending July 3, producing 9.7 million barrels per day of finished gasoline.
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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.

Valor | Energy Connection – July 13, 2026

Posted on by Valor

July 13, 2026 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.


  • EIA: Crude oil inventories in U.S. see rare build
  • Summary: According to the EIA, U.S. crude oil inventories increased by 3.0 million barrels to 411.4 million barrels for the week ending July 3, placing commercial stockpiles 6% below the five-year average. Meanwhile, gasoline inventories decreased by 1.9 million barrels with daily production at 9.7 million barrels, and distillate stocks fell by 5.0 million barrels to leave them 12% below the five-year average. On Wednesday morning, Brent crude futures rose 4.33% to $77.37 per barrel, while WTI gained 4.22% to settle at $73.41.
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    U.S. oil, gas drillers hang back in volatile market
  • Summary: The total active U.S. drilling rig count rose to 581, up 44 from last year, as oil rigs held at 445, gas rigs remained at 126, and miscellaneous rigs grew to 10. Meanwhile, weekly U.S. crude oil production rose to an average of 13.860 million bpd, up from 13.810 million bpd the prior week, while the frac spread count rose by 5 to 205 crews. Regionally, the Permian Basin rig count dropped by 5 to 256 while Eagle Ford rose by 3 to 47, as Brent oil fell to $75.72 per barrel and WTI dropped to $71.26.
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  • Marubeni acquires Barnett shale operator EagleRidge Energy​​
  • Summary: Marubeni Corporation has completed its acquisition of EagleRidge Energy to expand its North American natural gas portfolio. As the third-largest producer in the Barnett Shale, the Dallas-based company operates more than 3,500 wells across around 450,000 gross acres in North Texas and produces around 300 MMcfe/d. This transaction expanded the position through a series of acquisitions completed since September 2024, appointing Tom Ashton and Sam Miller as co-presidents alongside vice chairman Michael Ronca.
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  • Permian growth leads U.S. to record oil production​​​​​
  • Summary: U.S. crude oil production reached a record 13.6 million barrels a day in 2025, breaking the 2024 record of 13.2 million barrels a day. Driven by the Permian Basin, which grew 4% to 6.6 million barrels a day, domestic output was roughly 40% higher than Russia’s 9.9 million barrels and Saudi Arabia’s 9.6 million barrels. These 2025 gains occurred despite a 5% drop in active rigs and a decline in WTI prices to $65 a barrel, though the EIA forecasts production will hit 14.2 million barrels a day by 2027.
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    U.S. Strategic Petroleum Reserve is 56 percent empty
  • Summary: U.S. Strategic Petroleum Reserve stocks fell to 319.48 million barrels for the week ending July 3, leaving the authorized 714 million barrel capacity about 44 percent full and 56 percent empty. This volume dropped by 6.2 million barrels, or 1.9 percent, week on week and 83.5 million barrels, or 20.7 percent, year on year. The drawdown is a 172 million barrel domestic contribution to a broader 400 million barrel international release, which will be replaced with 200 million barrels very soon.
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    U.S. natural gas futures held back by adequate supply
  • Summary: U.S. natural gas futures are lower as ample supply and above-average storage keep weather-driven rally attempts at bay, leaving Nymex natural gas off 2.3% at $3.139/mmBtu. Bank of America Global Research raised its Henry Hub price forecast for the second half of the year to $3.80/mmBtu from $3.60/mmBtu while keeping its 2027 price estimate at $4/mmBtu. While production continues to grow, it has been offset by LNG feedgas demand, power sector factors, and Canadian imports since the April lows.
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    Texas oil and gas exploration and production jobs rise for third straight month
  • Summary: Texas upstream oil and natural gas employment grew by 4,100 jobs in May, marking the third consecutive month of gains for the sector. The upstream oil and natural gas industry currently sustains over 850,000 total positions, supporting an additional 232,000 indirect supply chain jobs and 421,000 induced jobs across the economy. From a longer-term perspective, employment has expanded by 40,500 jobs since the pandemic-era low point in September 2020, representing an increase of nearly 26 percent.
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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.

Valor | Energy Connection – July 6, 2026

Posted on by Valor

July 6, 2026 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.

  • OPEC+ approves further oil output increase as Hormuz exports start to recover
  • Summary: OPEC+ agreed to raise production quotas by 188,000 barrels per day from August, adding to prior hikes that increased targets by nearly 800,000 bpd from April through July. Total group output had fallen from 42.77 million bpd in February to 33.13 million bpd in May before beginning a partial recovery in June. Meanwhile, Brent crude traded near $72 per barrel, down from peaks over $120, as the seven core members work to unwind the remaining 379,000 bpd of a 1.65 million bpd cut enacted in 2023.
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    Citi: Oil could sink to $60 as Hormuz traffic normalizes
  • Summary: Citigroup projects Brent crude prices could plunge to $60 or $65 a barrel by the end of the year as shipping through the Strait of Hormuz normalizes. Other Wall Street firms have also adjusted their forecasts downward following the signing of the U.S.-Iran memorandum of understanding. Goldman Sachs predicts a global oil surplus of roughly 3 million barrels per day next year, noting that a projected global SPR rebuilding of just over 1 million barrels per day would still leave a 2 million barrel surplus.
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  • Execs predict where Henry Hub price will land in future
  • Summary: In the second quarter Dallas Fed Energy Survey, executives from 97 firms projected mean Henry Hub gas prices of $3.35 per MMBtu in six months, $3.45 in one year, $3.75 in two years, and $4.14 in five years. For the end of 2026, 123 executives forecasted an average price of $3.36 per MMBtu, within a range of $2.00 to $4.65, while the average spot price during the survey period was $3.15. Meanwhile, reports noted the August contract closed at $3.275 on Tuesday, up 9.4 cents or 3.0 percent.
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  • U.S. energy firms add rigs for third week in a row, says Baker Hughes
  • Summary: The total U.S. oil and gas rig count increased by seven to 580 for the week ending July 2, a figure that is 41 rigs or 7.6% higher than last year’s level. Baker Hughes reported that oil rigs climbed by five to 445, gas rigs rose by one to 126, and miscellaneous rigs grew by one to nine. This activity follows consecutive annual rig count declines of 20% in 2023, 5% in 2024, and 7% in 2025, though the EIA projects 2026 crude output will reach 13.7 million bpd and gas output will hit 111.0 bcfd.
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    OPEC oil production jumps, but Gulf supply is still far from normal
  • Summary: OPEC oil production rebounded sharply in June as 11 member nations produced 19.43 million barrels per day, marking a monthly increase of 3.3 million bpd. This rise followed the lifting of a naval blockade under a 60-day agreement, though output remained well below quotas and pre-war tanker traffic levels. Meanwhile, global supply pressures persist as the United States posted record crude production of nearly 14 million barrels per day, and the UAE exported record volumes from its own storage.
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    Shell offloads stake in U.S. Gulf production hub
  • Summary: Shell is selling its 50 percent ownership in the Na Kika platform and 100 percent in the Coulomb tieback to Ridgewood Energy and Talos Energy for $1.7 billion. In 2025, the Na Kika platform contributed 37,000 boe a day to Shell’s production and accounted for 4.3 million boe of proven reserves, while Coulomb accounted for 7.2 million boe. In a separate U.S. divestment, Shell completed the transfer of Jiffy Lube International, which comprised 6.5 percent of its regional footprint, for $1.3 billion.
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    XRG expands rio Grande LNG stake, now invested across all five trains
  • Summary: XRG acquired an additional 7.6% equity interest in Trains 4 and 5 of the Rio Grande LNG project in Texas from Global Infrastructure Partners. This expands on its prior purchase of an indirect 11.7% stake in Phase 1, which includes Trains 1 through 3. The NextDecade-operated facility has roughly 30 MMtpa of liquefaction capacity under construction, with Trains 4 and 5 adding 12 MMtpa, and it is expected to receive first gas in the second half of 2026 before production begins in 2027.
  • 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.

Valor | Energy Connection – June 29, 2026

Posted on by Valor

June 29, 2026 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.

  • Magnolia eyes $4 billion WildFire acquisition to expand Eagle Ford position
  • Summary: Magnolia Oil & Gas Corp. has emerged as the front-runner to acquire closely held WildFire Energy for more than $4 billion to boost its presence in the Eagle Ford shale basin. Following this development, Magnolia shares fell 1.5% to $26.78 in New York trading Friday, giving the company an overall market value of around $5.1 billion. WildFire operates more than 2,000 wells with an equivalent output of over 50,000 net barrels of oil per day, and its management sold a previous firm for $1.9 billion.
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  • Hormuz oil exodus sets stage for chaotic rebalancing act: Bousso
  • Summary: Brent crude fell to around $73 a barrel after a conflict of over 100 days, while Gulf shut-in production declined to 9.6 million bpd by mid-June from 11.7 million bpd. Iran’s output could reach 3.3 million bpd by year-end, and oil flows briefly exceeded 20 million bpd despite incoming traffic showing only one tanker entering for every four that left. Additionally, global supply is forecast to fall by 3.9 million bpd in 2026 before rebounding by about 8 million bpd to 110.3 million bpd in 2027.
  • Read more
  • U.S. pipeline giant eyes $5.5 billion deal to expand LNG reach
  • Summary: Natural gas giant Williams is in late-stage talks to acquire pipeline operator Momentum Midstream from EnCap Flatrock Midstream for an estimated $5.5 billion. Momentum Midstream operates about 4,000 miles of pipelines with 6 Bcf/d of system capacity, which includes the 250-mile NG3 pipeline that has a total capacity of 2.3 Bcf/d. The acquisition would expand Williams’ reach, which currently handles about one-third of U.S. natural gas and achieved a 25% year-over-year net income increase.
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  • U.S. natural gas drops on cooler outlooks as July contract expires
  • Summary: U.S. natural gas futures for July delivery settled 11.2 cents, or 3.3% lower, at $3.231/mmbtu on Nymex as the contract expired amid cooler weather forecasts. The more-actively-traded August delivery contract also ended lower, settling 1.6 cents, or 0.5% down, at $3.279/mmbtu at the Henry Hub. Daily BNEF data showed Lower-48 dry gas production on Friday at 112.6 bcf/day, an increase of 4.9% year-over-year, while total gas demand dropped 6.9% year-over-year to approximately 71.3 bcf/day.
  • Read more

    U.S. energy firms add most rigs in a week since June 2022, Baker Hughes says
  • Summary: The total U.S. oil and gas rig count rose by 10 to 573 in the week to June 26, up 26 rigs or 5% above last year’s level. Baker Hughes reported that oil rigs climbed by seven to 440, gas rigs increased by three to 125, and miscellaneous rigs held at eight. After past rig count declines of 20% in 2023, 5% in 2024, and 7% in 2025, the U.S. Energy Information Administration projected that the total domestic crude output will expand to 13.7 million bpd while gas production jumps to 111.0 bcfd in 2026.
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    ExxonMobil announces planned effective date for move to Texas
  • Summary: ExxonMobil announced that its planned move from New Jersey to Texas is expected to take effect on July 1, 2026. The company’s new publicly traded parent entity, ExxonMobil Holdings Corporation, will be incorporated in Texas, marking another major corporate relocation tied to the state’s growing role as a headquarters hub for the energy sector.
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    Oil prices climb as U.S.-Iran flare-up shakes market complacency
  • Summary: Oil prices moved higher early Monday as renewed geopolitical uncertainty brought global supply risks back into focus, with Brent and WTI both posting gains. The shift reflected concern that disruptions to shipping routes, infrastructure, or export flows could tighten an already sensitive market. Analysts noted that low inventories and limited spare capacity may leave crude prices exposed to volatility as markets assess whether recent tensions will affect broader supply and demand expectations.
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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.

Valor | Energy Connection – June 22, 2026

Posted on by Valor

June 22, 2026 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.

  • U.S. natural gas prices at Waha turn positive for first time since February as pipeline constraints ease
  • Summary: U.S. spot natural gas prices at the Waha Hub turned positive at 42 cents per mmBtu after remaining below zero for a record 90 days in a row. Previously, prices averaged negative $2.19 per mmBtu so far in 2026, dropping below zero a record 99 times this year compared to a positive $1.15 average in 2025. Driven by rising summer gas demand, the Permian region’s gas output is projected to reach 30.1 billion cubic feet per day by November, supplying about a third of all fuel consumed in the U.S.
  • Read more

    Texas upstream employment rises by 4,100 jobs in May, TIPRO says
  • Summary: Texas’ upstream sector added 4,100 jobs in May, raising total employment to 197,500 positions as oilfield services gained 4,400 jobs and extraction dropped by 300. Industry hiring activity included 10,409 unique job postings, an increase of 6% from April, with Houston leading cities at 2,698 listings. Additionally, oil producers paid $677 million in production taxes, which is 64% above May 2025 levels, while natural gas producers paid $217 million as U.S. net exports hit a record 5.8 MMbpd.
  • Read more
  • Hormuz reopens, but obstacles remain as oil markets seek path to normalcy
  • Summary: The Strait of Hormuz handles roughly one-fifth of global oil trade and has reopened following a U.S.-Iran agreement, causing Brent crude to drop nearly 8% for the week to trade near $80/bbl. Kuwait expects its production to exceed 2 MMbpd within days, ADNOC instructed customers to resume loadings, and Iran began exporting millions of barrels of stranded crude oil. However, shipping traffic slowed Friday, and supertankers holding nearly 80 MMbbl of crude inside the Gulf await clearer conditions.
  • Read more
  • Banks slash oil price forecasts after U.S.-Iran breakthrough
  • Summary: Following a U.S.-Iran peace deal to reopen Hormuz within 30 days, Morgan Stanley cut its third-quarter Brent price forecast to $90 per barrel from $100. Goldman Sachs lowered its fourth-quarter price forecast to $80 per barrel from $90 and its 2027 average to $75, predicting full tanker recovery by the end of July. Citi reduced its forecasts to $75 for the third quarter, $70 for the fourth quarter, and $65 for 2027, while Brent crude dropped to trade at $82.51 per barrel and WTI was at $80.23.
  • Read more

    U.S. energy firms add rigs for eighth time in nine weeks, says Baker Hughes
  • Summary: U.S. energy firms increased the total oil and gas rig count by one to 563 in the week ending June 18, representing a 2% rise of nine rigs compared to the same period last year. Baker Hughes reported that gas rigs grew by one to 122, while oil rigs remained steady at 433 and miscellaneous rigs held at eight. Following historical rig count drops of 20% in 2023, 5% in 2024, and 7% in 2025, the EIA projects 2026 U.S. crude output will rise to 13.7 million bpd and gas output will reach 111.0 bcfd.
  • Read more

    IEA sees massive oil surplus in 2027 as Middle East supply returns
  • Summary: The International Energy Agency reports the global oil market could see a surplus of over 5 million barrels per day in 2027 if Middle East production recovers. This forecast projects global supply growth of 8 million barrels per day, which far outpaces the expected demand growth of 2 million barrels per day. The conflict previously blocked more than 14 million barrels per day, causing oil inventories to drop by 3.8 million barrels per day since late February and by 4.6 million barrels per day in May.
  • Read more

    Technological advances keep driving oilfield production up
  • Summary: Driven by technological advances, Permian Basin oil production increased by 430 percent from 2015 to 2025, though current shale recovery is just 5-10 percent for oil and 10-20 percent for gas. While total U.S. crude output reached 13.6 million barrels per day in 2025, the U.S. EIA projects production easing to 13.5 million in 2026 and 13.3 million in 2027. Operators are deploying horizontal laterals extending three to four miles to raise unconventional oil recovery factors from 10 to 30 percent.
  • 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.

Valor | Energy Connection – June 15, 2026

Posted on by Valor

June 15, 2026 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 plunge as U.S. and Iran reach deal to reopen Strait of Hormuz
  • Summary: Oil prices dropped in early Monday Asian trading after the U.S. and Iran reached an agreement to reopen the Strait of Hormuz after more than 100 days of closure. Brent crude dropped 3.95% to $83.88 per barrel, and WTI fell 4.62% to $80.96 per barrel following announcement of the deal. A finalized memorandum of understanding includes a 60-day ceasefire period, the release of $24 billion in frozen funds, suspended oil sanctions, and a halt to producing nuclear weapons.
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    U.S. natural gas prices hit three-week low on U.S.–Iran peace deal
  • Summary: U.S. natural gas prices fell 2% to around $3.0 per MMBtu, hitting a nearly three-week low after a U.S.–Iran peace deal was confirmed. The agreement will lift the naval blockade of Iranian ports and reopen the Strait of Hormuz, a chokepoint handling one-fifth of global oil and LNG supplies, following its formal signing on June 19. Additional pressure stemmed from ample domestic supplies, with inventories rising to 2.686 trillion cubic feet, roughly 6% above the five-year average.
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  • Once an Arab oil embargo victim, US becomes world’s top oil exporter
  • Summary: The United States has become the world’s leading oil exporter for the third consecutive month, with crude and fuel shipments climbing to 10.5 million bpd in May. This ascendancy surpasses Russian exports of 7 million bpd and Saudi Arabian exports of 5.9 million bpd, a reversal from 2025 when Saudi Arabia led with 8.1 million bpd. The shift comes as U.S. output reaches 22 million bpd, allowing the country to supply 47% of its oil exports to Europe and 46% of its May exports to Asia this year.
  • Read more
  • Pace of U.S. oil drilling inches up
  • Summary: The total active U.S. drilling rig count rose to 563, with oil rigs increasing by two to 433 while gas rigs fell by three to 121, according to Baker Hughes. Weekly U.S. crude oil production averaged 13.799 million bpd for the week ending June 5, representing an increase of 371,000 bpd from a year ago as the completions crew count fell by two to 190. Concurrently, oil prices declined on Friday, with Brent crude falling 3.55% to $87.17 per barrel and WTI dropping 3.87% to trade at $84.32.
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    Permian partnership reports $2.3 billion in regional investment and expanding economic impact
  • Summary: The Permian Strategic Partnership released reports highlighting its investment of $215 million since 2019, which helped leverage over $2.3 billion in regional impact across 22 counties. The region currently supports more than 940,000 U.S. jobs, accounts for over 44% of all active domestic drilling rigs, and contributed $114 billion to the U.S. balance of trade in 2025. By 2027, the basin is projected to supply nearly 50% of U.S. oil production, with jobs expanding to 1.16 million by 2050.
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    Shell pauses $3 billion share buyback ahead of ARC acquisition vote
  • Summary: Shell pauses its $3 billion share buyback until July 14 due to securities laws tied to its pending $16.4 billion acquisition of ARC Resources. In April, Shell announced buying ARC in a deal paid 25% in cash and 75% in shares at a 20% premium, which is its biggest since 2016. The transaction requires a minimum of 66% support at ARC’s shareholder vote on July 14, and the company’s output consists of about 60% natural gas and 40% oil liquids near Shell’s Canadian fields feeding the LNG Canada plant.
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    BP starts process to sell stakes in two Gulf of Mexico projects
  • Summary: British oil major BP has begun a process to sell minority stakes in its multi-billion dollar Kaskida and Tiber projects in the Gulf of Mexico. This action represents one of the first major strategic moves by new CEO Meg O’Neill, who assumed her role in April after the company chose to refocus its investments back onto oil and gas. Both projects are expected to have production capacities of 80,000 barrels of oil per day, with Kaskida starting in 2029 and Tiber commencing production in 2030.
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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.

Valor | Energy Connection – June 8, 2026

Posted on by Valor

June 8, 2026 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 are up; whither the Texas boom?
  • Summary: Texas benefits from higher energy costs as it produced 5.8 mb/d of oil in 2025, accounting for 43% of total U.S. output. However, due to conflict-driven duration uncertainty, 73% of Dallas Fed Energy Survey respondents anticipate no more than 0.25 mb/d of additional production this year. While the average WTI spot price rose from $63 per barrel in early February 2026 to $106 by April 3, the oil and gas sector’s impact is muted by limited pipeline capacity and deep negative Waha natural gas prices.
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    U.S. crude oil inventories in freefall: EIA
  • Summary: U.S. commercial crude oil inventories fell by 8.0 million barrels for the week ending May 29 to 433.7 million barrels, placing stockpiles 3% below the five-year average. Concurrently, total motor gasoline inventories rose by 3.4 million barrels while middle distillates increased by 1.5 million barrels. Driven by tightening supplies, Brent crude rose 2.30% to $98.24 per barrel and WTI climbed 2.27% to $95.99, while overall product demand averaged 20.4 million bpd, up 3.0% from last year.
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  • The three reasons why oil is staying below $100 a barrel
  • Summary: Oil prices remain in the mid-$90s due to optimism over a U.S.-Iran settlement and a sharp decline in Chinese oil demand, which JPMorgan reported fell by up to 9% or 1.5 mbd. Furthermore, global supply continues to expand as Saudi Arabia pumps through the East-West pipeline, the UAE fast-tracks a bypass line, and U.S. production grinds higher. This comes despite May marking crude’s largest monthly drop ever and the emergency Strategic Petroleum Reserve draining by 8 to 9 million barrels per week.
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  • U.S. drillers continue to add oil rigs
  • Summary: The total active U.S. drilling rig count rose to 563, with oil rigs increasing by two to 431 while gas rigs fell by one to 124, according to Baker Hughes. Weekly U.S. crude oil production fell to an average of 13.707 million bpd, though this remains 299,000 bpd higher than last year, as completion crews grew by three to 192. Additionally, the Permian Basin rig count increased by two to 257 while oil prices declined, with Brent trading down 1.06% at $94.02 and WTI dropping 1.69% to $91.47.
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    Natural Gas News: Forecast turns cautious as supply glut pressures futures
  • Summary: July Nymex natural gas futures settled 4.28% lower at $3.021 on Friday after failing to break past resistance between $3.387 and $3.396. The drop occurred as domestic production reached 110.4 bcf/d—1.7% above last year—and total inventories remained 5.7% above the five-year seasonal average. Meanwhile, weekly LNG export flows dropped 5.8% to 17.2 bcf/d due to terminal maintenance, offsetting an 8.4% increase in electricity output and a lighter-than-average weekly storage injection of 95 bcf.
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    Delfin approves $5 billion FID for first U.S. floating LNG export vessel
  • Summary: Delfin Midstream sanctioned a $5 billion final investment decision for its first floating LNG vessel, Delfin FLNG 1, marking the first of its kind in the U.S. and the largest globally. The offshore vessel will export up to 4.4 million metric tons of LNG annually from Louisiana and is scheduled to begin production in 2030. Backed by Global Infrastructure Partners, the project holds broader U.S. energy authorization to ultimately export up to 13.2 million tonnes of LNG per year.
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    War, gas prices, and AI are fueling a Texas pipeline boom
  • Summary: Driven by elevated oil prices and surging global gas demand, Permian Basin natural gas production has outpaced takeaway infrastructure, sinking spot prices below negative $9 per thousand cubic feet. To bridge this gap, three new pipeline projects will expand regional export capacity by 20% this year, with three more planned by 2029 to feed Gulf Coast LNG facilities and domestic AI data centers. These data centers are projected by ERCOT to add up to 360,000 megawatts of grid power demand by 2030.
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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.

Valor | Energy Connection – June 1, 2026

Posted on by Valor

June 1, 2026 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.

  • Kimbell expands Permian footprint with $147-million royalty acquisition
  • Summary: Kimbell Royalty Partners will buy Permian Basin mineral and royalty interests from Mesa Royalties for $147 million, funding 70% with equity and 30% in cash. The acquisition adds 711 net royalty acres across 15 counties, encompassing over 2,300 producing wells and 364 drilled but uncompleted wells and permits. The assets are projected to produce 1,390 boed, including 754 bopd of oil, over the next 12 months, boosting Kimbell’s total portfolio to more than 135,000 gross wells and 93 active rigs.
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    Waha gas prices hit 16-week high as Permian pipeline constraints ease
  • Summary: Next-day spot natural gas prices at the Waha Hub reached a 16-week high of minus 46 cents/MMBtu on May 28, up from minus $2 on May 27, though remaining below zero for a record 78 consecutive days. Daily prices have averaged a negative $2.38/MMBtu so far in 2026, marking a record 87 negative days this year. While the EIA expects Permian output to hit 29.2 Bcf/d in July, upcoming pipeline capacity is projected to boost monthly production to a high of 30.2 Bcf/d by December.
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  • Record-low U.S. shale well backlog curbs fast output gains amid export surge
  • Summary: U.S. crude inventories fell 12.4 million barrels to 806.8 million for the week ending May 22, dropping 52 million barrels since the war began. High export demand has depleted the DUC shock absorber, which hit a record low of 4,972 in April after 14 consecutive months of decline. Completion crews rose 21% this year to 189, and while the EIA raised its 2026 output forecast to 13.65 million bpd, operators are adding rigs to rebuild the backlog, lifting the onshore oil rig count to 425.
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  • Oil drops 20% from 2026 peak on optimism over U.S.-Iran ceasefire talks
  • Summary: Global oil prices tumbled around 20% from their 2026 peaks, with Brent crude falling nearly 19% in May to $92.56, while WTI futures dropped 16.5% month-to-date to $87.18. The declines follow a 60-day memorandum of understanding that is mostly agreed upon to pause hostilities and reopen the Strait of Hormuz, which held 20% of global energy supply. Meanwhile, Iranian crude loadings for May fell below 0.3 million bpd from April’s 1.5 million bpd average as missile strikes continue in the Gulf.
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    Supermajor warns oil prices could hit $160 within weeks
  • Summary: Global oil inventories dropped by a record 8.7 million bpd in May as the closed Strait of Hormuz continues to block 12 to 13 million bpd. JPMorgan calculated that out of 8.4 billion barrels in global stocks, only 0.8 billion are realistically available without causing system stress. While oil currently trades between $90 and $110, Exxon models show Brent could spike to $150–$160 within weeks once the operational floor is hit, triggering an eventual demand destruction benchmark of 5.5 mbd.
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    U.S. drillers add more rigs in response to higher prices
  • Summary: The total active U.S. drilling rig count rose to 562, driven by a four-rig increase in oil rigs to 429 while gas rigs held steady at 125, according to Baker Hughes. Weekly crude oil production averaged 13.702 million bpd, sitting 160,000 bpd under the record high, as completion crews rose by five to 184 and Permian rigs increased by five to 255. Oil prices fell on deal rumors, with Brent trading down 1.84% to $91.99 and WTI down 1.05% to $87.85, losing $12 and $10 weekly respectively.
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    Forecasts for above-average U.S. temps boost Nat-Gas prices
  • Summary: July Nymex natural gas closed up 0.15% on Friday, hitting a 2.5-month nearest-futures high due to forecasts for above-normal U.S. temperatures for June 8–12. While the EIA raised its 2026 dry gas production forecast to 110.61 bcf/d, current lower-48 demand fell 1.9% year-over-year to 67.7 bcf/d alongside flat rig counts at 125. Global constraints remain supportive as LNG terminal net flows rose 2.1% weekly to 18.5 bcf/d and inventories rose by 92 bcf, coming in below the 96 bcf expected build.
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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.

Valor | Energy Connection – May 18, 2026

Posted on by Valor

May 18, 2026 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.

  • Permian gas glut means producers are paying buyers to haul it away
  • Summary: Permian Basin natural gas prices hit an all-time low of -$9.60/mmBtu on April 24 as pipeline capacity failed to keep pace with production. While U.S. futures slipped 10% since the Iran conflict began, European and Asian prices jumped roughly 40% and over 50% respectively, shielding the U.S. economy from global energy shocks. Storage inventories sit 7.7% above the five-year average, though five new pipelines will add 11 bcf/d of capacity by late 2028 as 2026 dry gas output targets 110.61 bcf/d.
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    Phillips 66 announces Zeus Gas Plant and a third Coastal Bend Fractionator
  • Summary: Phillips 66 is moving forward with its 300 MMcf/d Zeus Gas Plant in the Permian and a third 100 MBD Coastal Bend Fractionator in Robstown, Texas, with both projects slated to be online in 2028. The Zeus facility will include the new 45-mile Midland Express Pipeline, which is designed to integrate gathering systems and move up to 230 MMcf/d of wellhead gas. Funded within a $2.0 billion to $2.5 billion capital budget, the projects align with plans to reduce debt to $17 billion by year-end 2027.
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  • High crude prices expected to accelerate M&A deals​​​​​
  • Summary: First-quarter M&A activity reached $38 billion, hitting a two-year quarterly high before slowing in March due to price volatility. The quarter’s value was driven by corporate consolidation, including a $25 billion Devon and Coterra merger, bringing the six-month total over $60 billion. Transaction counts dropped to a post-2020 low with only eight deals over $100 million, but current high crude prices are expected to supercharge a rebound in private sales and asset values.
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  • U.S. oil rig count jumps amid rising crude prices
  • Summary: The total U.S. rig count rose to 551 as active oil rigs increased by five to 415, while gas rigs fell by one to 128, according to Baker Hughes. Weekly crude oil production grew to an average of 13.710 million bpd, while completion crews rose by five to 179 and Permian rigs increased by four to 246. Oil prices climbed with the Strait of Hormuz closed, as Brent traded up 3.57% at $109.50 and WTI rose 4.23% to $105.50, marking respective week-over-week gains of $9 and $10 per barrel.
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    Texas oil regulator praises record port activity, rising output
  • Summary: The Port of Corpus Christi handled 54.5 million tons of cargo in Q1 2026, marking its strongest first quarter ever and surpassing Q1 2025 by 6.1%. Concurrently, Diamondback Energy is immediately increasing oil output above 520,000 bpd—3% over its initial guidance—by running five completion crews and adding two to three drilling rigs. For February 2026, Texas reported preliminary volumes of 117,594,204 barrels of crude oil and 965 billion cubic feet of natural gas across the state.
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    U.S. industrial natural gas consumption expected to hit records in 2026 and 2027
  • Summary: U.S. industrial natural gas demand is forecast to reach record highs, rising by 1.2% (0.3 Bcf/d) in 2026 and 1.7% (0.4 Bcf/d) in 2027 from a record baseline of 23.6 Bcf/d in 2025. This gradual growth is driven by a projected rise in the manufacturing index of 1.5% in 2026 and 0.7% in 2027, which outpaces ongoing facility efficiency gains. Demand follows a seasonal pattern, peaking at 26.1 Bcf/d in January 2026 and a forecast 26.7 Bcf/d in January 2027, while dropping to 22.6 Bcf/d in June.
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    Natural Gas News: June futures break 50-day MA as summer heat builds
  • Summary: June NYMEX natural gas futures traded near $3.00 on Friday after breaking above the 50-day moving average at $2.943 and the swing top at $2.945, targeting $3.107. The rally was fueled by an EIA storage report showing an 85 Bcf injection, below the 91 Bcf estimate, though inventories remain 6.5% above the five-year average. U.S. dry gas production holds at 109.7 Bcf/d, up 3.2% year-over-year, which serves as a price ceiling, while LNG export terminal feedgas flows reached 17.5 Bcf/d last week.
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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.