Oil prices rose more than 3% after renewed military action between the United States and Iran increased concerns about energy shipments through the Strait of Hormuz. The disruption highlights the continued importance of reliable North American oil and natural gas production in an increasingly volatile global energy market.
ConocoPhillips is adding drilling activity in the Delaware Basin to eliminate frac gaps and keep completion crews fully utilized as completion efficiencies continue to outpace drilling improvements. The strategy highlights the industry’s shift toward integrated manufacturing-style development, where maintaining continuous frac operations is essential to maximizing capital efficiency.
ESPADA ENERGY is beginning a focused Eagle Ford Shale development program in Dimmit County, with three horizontal wells distributed across two leases and likely two drilling locations. The closely grouped Dunn permits indicate a multi-well pad strategy, while the later Briscoe-McKnight permit suggests the company is expanding its drilling inventory within the same operating area.
RISING STAR ENERGY PARTNERS II is executing a phased Eagle Ford redevelopment program in Refugio County, Texas, with 8 permitted wells across 6 drilling pads targeting the La Rosa (Consolidated, Oil) Field using standardized directional well designs. Drilling has begun on two pads with Wisco Moran Rig 7, while four additional permitted pads provide a defined inventory of future development opportunities within this mature asset.
Baker Hughes has been awarded multiple contracts to provide liquefaction equipment, turbine upgrades, and lifecycle services for Cheniere’s Sabine Pass LNG expansion in Louisiana. The project will add more than 6 million tonnes per annum of LNG capacity while enhancing efficiency and reliability across one of North America’s largest LNG export terminals.
Kodiak Gas Services (KGS) and Baker Hughes (BKR) announced a multi-year agreement Wednesday in which Baker Hughes will supply gas turbines and generators to support U.S. data center growth.
The BUCCO four-well development in Loving County exemplifies ConocoPhillips’ strategy of concentrating investment in the Delaware Basin through efficient, multi-well pad development that maximizes operational performance and low cost-of-supply inventory. The project reinforces the company’s long-term manufacturing approach, creating sustained opportunities for drilling, completions, production equipment, and other oilfield services as development continues across the basin.
Mountain V Texas LLC has acquired 11 TCEQ air permits from SMITH PRODUCTION INC., expanding its operated infrastructure across Webb and Zapata Counties in the South Texas Eagle Ford. The transaction reflects a broader industry trend of financially stronger operators acquiring mature producing assets to capitalize on improving natural gas fundamentals and the long-term outlook for secure North American energy production.
Oil prices rose more than 5% after renewed U.S.-Iran conflict and tighter sanctions on Iranian crude exports increased concerns over global supply disruptions. The Strait of Hormuz remains a critical risk point for world energy markets, reinforcing the importance of alternative export infrastructure and closely watched geopolitical developments.
ORNI 43, LLC, a subsidiary of Ormat Technologies, is developing and operating the 75-megawatt Tungsten Mountain Geothermal Project in Churchill County, Nevada, one of the state’s largest geothermal power facilities. The project includes up to 43 geothermal production and injection wells, two power plants, and supporting infrastructure, with additional drilling and permitting activity continuing through 2026 to expand the geothermal field.
