ConocoPhillips, one of the top U.S. oil and gas producers, is in advanced talks to sell approximately 300,000 net acres in Oklahoma’s Anadarko Basin to privately held Stone Ridge Energy, according to Reuters. The assets produce around 39,000 boepd—roughly half of which is natural gas—and the deal is reportedly valued at $1.3 billion.
Operationally, CNX delivered strong results across its core acreage. The company drilled three deep Utica wells with an average lateral length of 11,100 feet in just 36 days—representing a 46% improvement over 2023. Capital costs for these wells came in at $1,750 per foot, beating previous targets.
The company reported $1.2 billion in revenue for Q2 2025, alongside an adjusted EBITDA of $231 million. While it posted a net loss of $49 million—impacted by a $28 million non-cash impairment related to Colombian operations—management remained confident in the long-term trajectory.
On July 16, 2025, the Texas Commission on Environmental Quality (TCEQ) approved a New Source Review (NSR) Change of Ownership for Permit #117982, officially transferring ownership of the MCCARN A-5H & B-1H Tank Battery from BPX Operating Company to Warwick-Artemis LLC. This regulatory milestone reflects the broader reshuffling of premier upstream assets in South Texas, once held by global energy giant BHP Billiton Petroleum.
Phillips 66 has officially registered the Condor Compressor Station in Martin County, Texas, marking another strategic step in its buildout of natural gas infrastructure tied to the Dos Picos midstream complex. The registration was filed under Project #395482 and completed on July 14, 2025, with the Texas Commission on Environmental Quality (TCEQ).
Occidental Permian Ltd. (Oxy) is expanding its footprint in Gaines County, Texas, with the planned addition of a mud plant adjacent to its existing Seminole Gas Processing Plant. According to filings with the Texas Commission on Environmental Quality (TCEQ), the new facility is being permitted under a Permit by Rule (PBR) application, submitted on July 16, 2025 and currently listed as pending.
According to the latest Baker Hughes Rig Count, the total number of active rigs rose by seven—the largest weekly gain since December
From Texas to Appalachia, U.S. shale operators are repositioning for a new kind of energy demand. The AI data center boom is not only transforming the electricity grid—it’s rewriting the playbook for gas monetization. Behind-the-meter power generation offers a rare blend of scalability, profitability, and long-term relevance for oil & gas.
Oil and gas majors are increasingly investing in direct lithium extraction (DLE) from brines—particularly in the Smackover Formation (Arkansas & East Texas) and Appalachia—as part of a broader energy diversification and decarbonization strategy.
Energy Transfer (NYSE: ET) continues to scale its natural gas infrastructure footprint in Texas, receiving approval from the Railroad Commission of Texas (RRC) for a sweeping pipeline permit that spans more than 8,100 miles. The permit—T-4 Permit #09207—supports a mix of regulated and unregulated gas gathering and utility infrastructure across key production areas including the Delaware and Anadarko basins.
