Nearly 600 wells are under contract to be plugged this year with the assistance of federal funds. Plugging orders have been issued for nearly 1,900 other abandoned wells.

Gas station owner Sunoco LP will buy pipeline and liquids terminal operator NuStar Energy in an all-equity transaction valued at around $7.3 billion, including debt, the companies said on Monday in the latest merger deal in the U.S. energy sector.

Forecasters at Enverus Intelligence Research (EIR) said the unexpectedly strong growth led them to increase their annual forecast for US production growth by 100,000 B/D to 1.2 million B/D.

Ellipsis U.S. Onshore, formed in June 2023, is considered a newcomer to the Delaware Basin which makes up the western part of the Permian. It acquired 3,000 non-operated acres in the Delaware with production of about 3,000 barrels of oil equivalent a day. The production was expected to grow to 7,000 by year’s end.