Louisiana holds 42 active rigs, including 25 in the Haynesville, and saw just four new permits issued—two offshore and two in Bienville Parish. Louisiana Light Sweet rose to $65.22, and Henry Hub natural gas dipped to $3.60. The U.S. rig count fell by two to 547, reflecting a slight slowdown in national drilling activity.
In a potential strategic shift, Baytex Energy Corp. is exploring the sale of its Eagle Ford assets in South Texas—estimated to fetch up to $3 billion—as it seeks to sharpen its focus on Canadian growth.
crude prices fell below $60 per barrel, underscoring continued pressure on drilling economics. According to the latest Baker Hughes Rig Count, both oil prices and rig activity moved lower — signaling operators may be tightening spending as commodity markets soften heading into Q4 2025.
Diamondback Energy (NASDAQ: FANG) continues to prove the strength of its contrarian strategy—acquiring quality Permian assets during downturns to drive long-term value and free cash flow growth. With disciplined capital allocation, low leverage, and steady 2025 drilling activity, the company is positioned for outsized gains when the next commodity upcycle begins.
Matador Resources continues to execute with discipline in the Delaware Basin — drilling 111 wells in 2025, led by consistent activity in Lea and Eddy counties. With 2026 production modeled at 200,000 BOE/d and a steady $1.4B Capex plan, Matador is balancing growth with long-term capital efficiency. Backed by more than a decade of core inventory in the Bone Spring and Wolfcamp formations, the company remains one of the most resilient independents in U.S. shale.
CSV Midstream Solutions Corp. (BA Code A6WG) has submitted an application under AER Directive 056 for a new gas processing facility in the Valhalla area, marking a significant investment in midstream infrastructure to support ongoing upstream development in northwest Alberta.
Cardinal Midstream continues to strengthen its position in the heart of the Delaware Basin with the completion of 36 miles of large-diameter natural gas-gathering pipelines across Eddy County, New Mexico, and Loving County, Texas. The expansion includes both high- and low-pressure lines, designed to enhance connectivity and reliability for producers operating in one of the most active oil and gas regions in the United States.
The pace of consolidation in U.S. oil and gas continues to accelerate — and this week, Denver-based Civitas Resources reportedly entered advanced talks to merge with SM Energy, a longtime Midland Basin operator. According to multiple reports, the companies are exploring a merger of equals that would create a combined entity valued around $14 billion, including debt.
ExxonMobil is turning Proxxima™—its polyolefin thermoset resin tech—into a scaled product platform through a three-phase build-out: (1) U.S. capacity + early customer demos, (2) verticalized solutions and licensing, and (3) multi-region replication tied to lower-emissions materials demand.
MBX Operating LLC recently completed a new project notification under the Texas Commission on Environmental Quality (TCEQ), filing a Standard Permit for Oil and Gas Production Facilities for its Come and Take It 1H and Max Q 1H Production Facility in Pecos County, Texas.
