Mewbourne Oil’s activity in Block 43T4S, Crane County, Texas follows a disciplined, textbook unconventional development cadence: permit → drill → validate → build facilities → scale. The data strongly supports the conclusion that this program began with a small pilot phase, progressed through technical validation, and has now transitioned into a full multi-well development campaign.
For FY 2026, CNRL plans an operating capital budget of approximately C$6.3 billion, targeting average production of 1.59–1.65 MMboe/d. At the midpoint, this represents roughly 3% year-over-year growth, or about 50,000 boe/d, building on strong momentum from 2024 and 2025.
Ovintiv continues to align upstream execution with long-term market access after signing a 12-year agreement with Pembina for 0.5 million tonnes per annum (mtpa) of liquefaction capacity at the Cedar LNG facility, with commercial operations expected in late 2028. The agreement provides Ovintiv with direct exposure to global LNG markets while strengthening the value of its core Canadian natural gas assets.
Meg O’Neill, CEO of Woodside Energy, has resigned to take over as Chief Executive Officer of BP, marking one of the most consequential executive moves in Big Oil in recent years. The appointment makes O’Neill BP’s first female CEO in its 116-year history and signals a decisive shift in strategy for the UK supermajor.
Civitas Permian Operating has taken another deliberate step to strengthen its Midland Basin operating footprint, acquiring approximately 13 miles of natural gas pipeline infrastructure from Oxy-affiliated Oxyrock Operating in Howard and Glasscock Counties. While the transaction may look incremental on paper, it is strategically important—because in today’s Permian, control of gas infrastructure is control of development pace, cost structure, and execution certainty.
Kelt Exploration Ltd. continues to deepen its commitment to the Wembley field in northwest Alberta, with a newly filed facility licence amendment that underscores a shift toward higher-throughput, pad-based development supported by modern drilling and compression infrastructure.
A recent air permit transfer from Devon Energy to Formentera Operations LLC in Parker County, Texas marks an important step in Formentera’s continued expansion across north-central Texas, a region adjacent to the Dallas–Fort Worth (DFW) metro area and long associated with legacy Barnett Shale development.
Recent Texas Commission on Environmental Quality (TCEQ) filings show that SM Energy Company has completed the transfer of multiple Air New Source Review (NSR) permits to New Height Energy, LLC. All permits were finalized on December 10, 2025 and reflect a change of ownership for existing production infrastructure—not new construction.
Jetta Operating Company, Inc. is making a deliberate and increasingly visible move in the Southern Delaware Basin, signaling long-term operational commitment rather than short-cycle development. A combination of recent air permit transfers and sustained drilling activity in Ward County, Texas highlights how Jetta is expanding both its surface infrastructure and subsurface footprint in this mature but highly strategic part of the Permian Basin.
Today, US oil producers are drilling fewer wells, running fewer rigs, and yet producing more oil than ever before. The shift is structural, not cyclical — and it is fundamentally reshaping the Oilfield Services (OFS) market.
