On December 11, the Bureau of Ocean Energy Management (BOEM) completed Lease Sale Big Beautiful Gulf 1 — the first offshore auction under President Trump’s One Big Beautiful Bill Act (OBBA). Despite a smaller dollar total than the last sale in 2023, the auction delivered the highest bids-per-acre seen since 2017, underscoring renewed confidence in the Gulf’s future as a pillar of American energy security.
INEOS USA Oil & Gas LLC has acquired ownership of a Texas New Source Review (NSR) air permit previously held by Expand Energy, signaling a shift in development activity at the Gibson South Unit DIM B pad north of Asherton, Texas. The Texas Commission on Environmental Quality (TCEQ) completed the change-of-ownership filing on December 2, 2025, issuing Permit #146718 with no additional delays or technical revisions.
Privately funded operator Varas Energy has taken a major step toward long-term, conventional oil and gas development in South Texas. On December 5, 2025, the Texas Railroad Commission approved a new T-4 pipeline permit (No. 10739) authorizing Varas to operate more than 150 miles of natural gas gathering lines across eight counties in the region. The system was formerly filed under Hugoton Operating Company, Inc., a bankrupt operator undergoing Chapter 11 restructuring.
The next chapter of Double Eagle is officially underway. Following the $4.08 billion sale of Double Eagle IV assets to Diamondback Energy, founders Cody Campbell and John Sellers have secured a $2.5 billion equity commitment from EnCap Investments to launch Double Eagle V and Tumbleweed Royalty V. And they are wasting no time putting that capital to work.
The Appalachian shale landscape is shifting again—this time through a coordinated three-way deal that reshapes who controls the core Marcellus and opens new runway in the Utica. On December 8, Antero Resources, Antero Midstream, Infinity Natural Resources, and Northern Oil & Gas unveiled a strategic combination of acquisitions and divestitures worth $3.9 billion, resulting in one of the most consequential gas realignments in years.
Canada’s stock market is on a tear — and the rally may just be getting started. After years of underperformance and caution from global investors, the S&P/TSX Composite Index is now beating the S&P 500 in a rising market for the first time since 2016. While the headline drivers have been gold and bank stocks, a quieter shift is unfolding in Canada’s industrial strategy, and it could set the stage for the next major catalyst: energy.
Chevron has set its 2026 capital expenditure guidance at $18B–$19B, landing at the low end of its previously communicated $18B–$21B annual range. The spending plan underscores a familiar strategy: maintain discipline, generate higher returns, and continue prioritizing top-tier barrels across U.S. shale basins and select offshore hubs.
Canadian Natural Resources Ltd. (CNRL) doesn’t make flashy headlines when it comes to Montney development — but that’s exactly why its strategy is powerful. The company is quietly building one of the most efficient, liquids-rich natural gas portfolios in Canada. With LNG export capacity increasing over the next decade, CNRL is positioning itself to win the long game.
Mach Natural Resources used its Q3 2025 earnings call to send a strong message about the importance of Oklahoma to its long-term strategy. While the company has expanded into new basins through recent acquisitions, CEO Tom Ward made it clear that the Mid-Continent—and Oklahoma in particular—remains one of Mach’s most dependable growth engines.
Coterra’s message is clear: Oklahoma remains a dependable contributor, supported by strong well results, consistent development, and a focus on maximizing full-cycle returns. T
