Admiral Permian Resources: A Delaware Basin Factory-Style Development in Loving County

Admiral Permian Resources’ MAVERICKS project in Loving County is a tightly executed Delaware Basin factory-style development, with all wells concentrated on a single pad, drilled by one rig, and landed at identical Wolfcamp depths. The rapid progression from batch permitting to spud and centralized facility authorization confirms a disciplined, repeatable execution model rather than exploratory or opportunistic development.

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Amplify Energy Completes East Texas Exit as Air Permits (Facility) Transfer to EQV Operating

Amplify Energy’s October 2025 divestiture of its East Texas Haynesville and Cotton Valley assets is now reflected in completed TCEQ air-permit ownership transfers to EQV Operating LLC, covering compressor stations and central facilities in Panola and Rusk Counties, Texas. The filings confirm a post-close handoff of existing, permitted infrastructure rather than new development, positioning EQV as the ongoing operator of a mature, infrastructure-anchored East Texas asset base.

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Diamondback Energy Heidelberg 30-31 Program: A Full-Section Spraberry Factory in Martin County

The Heidelberg 30-31 program in Martin County is a full-section Spraberry cube development executed as a true factory, with 24 standardized horizontal wells drilled in parallel across four pads and four rigs within a single survey block. Identical depths, stacked bench co-development, and a compressed ~8-month permit-to-facility timeline confirm a manufacturing-style model focused on throughput, repeatability, and capital efficiency rather than experimentation.

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Oklahoma Rig Activity Holds Steady as Operators Stay Disciplined

Oklahoma’s rig count remains unchanged, with drilling concentrated in the Cana Woodford and Granite Wash as operators continue to prioritize disciplined, steady-state development over growth. Activity is led by Continental Resources and a small group of consistent operators, reinforcing Oklahoma’s role as a predictable, execution-focused basin rather than a destination for incremental rig additions.

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Exxon’s Cube Development Strategy — What It Looks Like on the Ground

Exxon’s Cube development strategy is not theoretical — it’s visible in the permits. The COON-BEND lease in Block 38T2S shows how a mature Spraberry position continues to generate new drilling inventory through stacked, derisked development. This is recovery-driven growth, not exploration, and it’s exactly what Exxon has told the market to expect from its Permian program.

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Is ConocoPhillips Really Selling Delaware Basin Assets?

Speculation that ConocoPhillips may sell Delaware Basin assets points to portfolio high-grading rather than a strategic exit, as management repeatedly described the Delaware on its earnings call as core, long-life, and technically improving inventory. That view is reinforced by 2025 drilling data showing 144 wells drilled across just 11 rigs, heavily concentrated in Lea and Loving counties, reflecting a disciplined, manufacturing-style development program rather than retreat.

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Heavy Oil 2026: Top Operators, Rigs, and Drilling Momentum

Western Canada’s heavy oil activity in 2026 is concentrated among a small group of operators executing disciplined, infrastructure-led drilling programs rather than chasing broad-based growth. Wells drilled, active rigs, and permit signals clearly separate scaled manufacturers from selectively paced operators, revealing where near-term execution and sales opportunity are actually concentrated.

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Kinetik’s Sale Prospect – Western Midstream Partners, Testing Interest

Kinetik’s potential sale is being driven as much by asset quality as deal timing, with its Texas air permits revealing a tightly clustered set of compressor stations and central processing facilities in the core of the Delaware Basin. Those permitted, gas-focused facilities sit directly upstream of growing Gulf Coast demand, making Kinetik a highly attractive target for both strategic midstream buyers and infrastructure investors.

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Birchcliff’s Montney Strategy Is Showing Up in the Data

Birchcliff’s 2025 Grande Prairie Montney drilling activity closely matches management’s message of disciplined, infrastructure-led development, with multi-well pads, concentrated rig usage, and a clear focus on efficiency over volume growth. The wells drilled data shows a manufacturing-style program centered on core areas, reinforcing that the Montney is being optimized for returns, not rushed expansion.

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