The Delaware Basin continues to lead U.S. onshore drilling momentum, with activity levels holding steady through the second half of 2025. Since June, more than two dozen operators have spudded new wells across West Texas and southeastern New Mexico, highlighting a mix of capital discipline and strategic rig deployment.
BP (NYSE: BP) has announced the sale of non-controlling interests in its Permian and Eagle Ford midstream assets to funds managed by Sixth Street for total consideration of $1.5 billion. The assets are held by BP’s U.S. onshore subsidiary, bpx energy, and include an extensive portfolio of pipelines and processing facilities that support upstream production in two of the most active shale basins in North America.
Two of America’s leading independent shale producers — SM Energy (NYSE: SM) and Civitas Resources (NYSE: CIVI) — have announced a merger that will reshape the U.S. upstream landscape. The $12.8 billion all-stock transaction, including debt, will create one of the largest independent oil and gas companies with a dominant position in the Permian Basin, the nation’s most productive shale play.
OXY USA has advanced a coordinated infrastructure program in Reagan County’s Spraberry Trend Area that connects new wells, gathering systems, and supporting facilities across its Merchant, Amerigo, and Marco Polo leases.
Recent drilling and permitting activity indicates that BKV Barnett LLC, a subsidiary of BKV Corporation, is approaching the completion stage on its SANDFIELD L P 17 (AW) lease in Denton County, Texas. The cadence between the license issuance, spud dates, and the air permit filing clearly signals that well completions and facility tie-ins are next.
On October 21, 2025, the Texas Commission on Environmental Quality (TCEQ) issued a Change of Ownership Air Permit (Project #399655) transferring operational control of the Wheeler Unit 8-1H site in McMullen County, Texas from BPX Energy to GulfTex Energy LLC.
The Bay Runner Pipeline is a major intrastate natural gas project currently advancing through Texas air permit approval stages. Designed to stretch approximately 145 miles, the pipeline will transport up to 2.64 billion cubic feet per day (Bcf/d) of natural gas from the Agua Dulce supply hub to a terminus near Port Isabel, Texas—a critical export gateway to global LNG markets.
The U.S. energy landscape is shifting again — this time with a strong signal from the top. The U.S. President has authorized the purchase of 1 million barrels of crude oil to begin refilling the Strategic Petroleum Reserve (SPR), marking the first symbolic step toward rebuilding the nation’s emergency stockpile. While modest in volume, the timing and message behind the move are powerful: America is betting on energy strength once again.
As Q3 2025 earnings season wraps, the tone from the “Big 3” oilfield service leaders—SLB, Halliburton, and Baker Hughes—paints a nuanced picture of the North American oilfield market. Together, they frame a region caught between efficiency and expansion, discipline and opportunity.
The 2025 Permian Basin International Oil Show (PBIOS), held at the Ector County Coliseum in Odessa, Texas, made one thing clear — the future of the oil and gas industry isn’t just being written by the supermajors. It’s being shaped by smaller, independent operators who are reinventing how production, investment, and innovation happen in America’s most productive basin.
