April 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.
- U.S. natural gas falls to lowest since late 2024 on oversupply
- Summary: May NYMEX natural gas futures fell 3.48% to their lowest settlement since late 2024, driven by inventories 7.1% above the five-year seasonal average. Lower-48 dry gas production reached 110.4 bcf/day, a 3.7% year-over-year increase, while West Texas spot prices slipped into negative territory due to pipeline bottlenecks. While domestic stocks are 7.4% higher than last year, European benchmarks remain over 37% above 2025 levels as global markets face supply disruptions from the war in Iran.
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Shell to buy Canadian shale company for $14 billion, in what would be oil giant’s biggest acquisition in 10 years - Summary: Shell has agreed to buy Calgary-based ARC Resources for $13.6 billion, adding 370,000 oil-equivalent barrels per day to its portfolio. The acquisition of 1.5 million net acres in the Montney formation is expected to lift Shell’s production compound annual growth rate to 4% through 2030, up from the previous 1% target. The deal includes $3.4 billion in cash and $10.2 billion in shares, with Shell assuming $2.8 billion in net debt and leases while maintaining its 50% cash flow distribution policy.
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- Crude oil hovers near $110 as Iran war peace talks lose momentum. What are experts saying?
- Summary: Global oil prices rose nearly 2% on April 27 as U.S.-Iran peace talks stalled following the cancellation of a U.S. diplomatic visit to Islamabad. Brent crude climbed 2.05% to $107.49, while WTI advanced 1.88% to $96.17, following a week where benchmarks gained up to 17%. Analysts warn that if diplomatic progress remains elusive through April, prolonged restrictions on the Strait of Hormuz—which handles 20 million barrels per day—could push Brent prices toward a peak of $150 per barrel.
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- Goldman Sachs raises oil price forecast yet again
- Summary: Goldman Sachs raised its fourth-quarter price outlook to $90 for Brent and $83 for WTI as Brent traded at $106.68 amid stalled U.S.-Iran negotiations. Analysts estimate Middle East production losses at 14.5 million barrels per day, creating a supply shock they warn is unsustainable without sharper demand destruction. Global demand is projected to decline by 1.7 million barrels daily this quarter, with ING noting that prices must rise further to address a persistent 13 million b/d shortfall.
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U.S. oil drillers scale back as global supply crunch continues - Summary: The total U.S. rig count rose to 544 this week, though active oil rigs slipped by three to 407 while gas rigs increased by four to 129, according to Baker Hughes. Weekly crude production fell to 13.585 million bpd, remaining 277,000 bpd below the record high, as the Frac Spread Count dropped by six to 165 crews. Despite Friday’s slight dip with Brent at $104.80 and WTI at $93.96, prices remain up significantly week-over-week as the Strait of Hormuz stoppage continues to stifle global oil flows.
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Shaletech Report: Permian activity remains steady with growth through efficiencies - Summary: Permian Basin oil production is projected to grow moderately in 2026, with ExxonMobil leading at a 12.5% increase to 1.8 MMboed. While rig counts remain flat, operators are driving gains through technology, such as “Triple-Frac” and simul-frac techniques. Natural gas output is expected to reach 28 Bcfd, though Waha prices hit negative $9/Mcfg in March due to takeaway bottlenecks. Strategic shifts include Chevron’s 2.5-GW data center power project and Devon Energy’s merger with Coterra.
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Trump signs memos to boost us fossil-fuel production for ‘defense readiness’ - Summary: President Trump invoked the Defense Production Act to expand domestic oil, coal, and gas production, citing an “inadequate” energy supply as a national security threat. The memos direct the Energy Secretary to use financial instruments to enable projects aimed at averting industrial resource shortfalls amid the Iran war. This action follows a $75 million campaign contribution from the industry and comes as the USDA predicts a 3.6% rise in food prices and increased costs for gas and fertilizer.
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