March 2, 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 markets brace for volatility amid Middle East supply instability risks
- Summary: Oil prices climbed after escalating geopolitical tensions in the Middle East disrupted key supply routes and heightened concerns about regional stability. Brent and WTI crude jumped roughly 9% to $79.41 and $72.79 respectively on Monday, following the effective closure of the Strait of Hormuz, a corridor that carries about 20% of global oil flows. While OPEC+ signaled a 206,000 bpd output increase to help offset potential shortfalls, analysts caution that prolonged disruption to the 15 million barrels per day moving through the chokepoint could push prices toward $100 per barrel.
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- Conocophillips considers selling Permian assets worth $2B
- Summary: ConocoPhillips is exploring the sale of Delaware Basin assets valued at approximately $2 billion as part of a strategy to streamline its portfolio following the $22.5 billion acquisition of Marathon Oil. The company, which has already closed $3.2 billion in divestitures during 2025, aims to reach a total asset-sale target of $5 billion by the end of 2026 to optimize its core high-return operations. While interest is expected from both strategic and private equity suitors, deliberations remain in the early stages with no guarantee that the Houston-based producer will proceed with the transaction.
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- Global gas markets shocked as Qatar ceases LNG production
- Summary: Global gas markets surged after LNG production was suspended at a major export hub amid regional security concerns, removing roughly 20% of global supply from the market. The halt triggered a 50% spike in European Dutch TTF gas prices to over €46/MWh, while Asian JKM benchmarks rose 39% to $15.068 per MMBtu. Brent crude also climbed 13% to $82 per barrel as traders reacted to the effective closure of the Strait of Hormuz and precautionary shutdowns affecting multiple production facilities. The disruption leaves global buyers facing a significant supply gap with no confirmed timeline for full operations to resume.
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- U.S. drillers cut oil and gas rigs for first time in six weeks, says Baker Hughes
- Summary: U.S. energy firms reduced the total oil and gas rig count by one to 550 for the week ending February 27, the first decline in six weeks. Oil rigs fell by two to 407—the lowest since December—while gas rigs rose by one to 134, marking their highest level since July 2023. Despite this 7% year-over-year drop in activity, the EIA projects 2026 crude output will hold at 13.6 million bpd, while natural gas production is expected to reach a record 110.0 bcfd amid a forecast 22% jump in spot prices.
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- OPEC+ agrees to modest oil output boost amid shipping disruptions
- Summary: OPEC+ agreed to a modest 206,000 bpd production increase for April, ending a three-month pause even as disruptions to key shipping routes have constrained crude flows. Although some members have spare capacity, limited transit through the Strait of Hormuz, a corridor for about 20% of global oil, has reduced Gulf shipments and lifted Brent crude toward $80 per barrel. Analysts say that this roughly 0.2% supply boost is unlikely to stabilize markets if navigation challenges persist, with prices potentially rising above $100 per barrel if disruptions continue.
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- Cheniere’s profit soars by 64% in 2025 as LNG demand jumps
- Summary: Cheniere Energy reported a 64% surge in 2025 net income to $5.33 billion, driven by record exports of 670 LNG cargoes and a 27% revenue increase to $19.98 billion. The company reached a milestone of 4,610 total cargoes on its 10th anniversary while completing four of seven trains at its Corpus Christi Stage 3 expansion. For 2026, Cheniere projects adjusted EBITDA between $6.75 billion and $7.25 billion as it anticipates finishing the remaining three trains to meet sustained demand from Europe and Asia.
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- infinity completes $1.2B Utica acquisition from Antero
- Summary: Infinity Natural Resources finalized the $1.2 billion purchase of 71,000 net acres and 141 miles of midstream assets in the Ohio Utica Shale from Antero. The deal, funded partly by a $350 million equity investment from Quantum and Carnelian, increases Infinity’s basin footprint to 102,000 net acres and 575 total drilling locations. While Infinity plans a two-rig program for 2026, Antero is utilizing the proceeds to high-grade its Marcellus portfolio through a $2.8 billion acquisition of HG Energy, targeting a 2026 production average of 4.1 Bcfe/d.
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