Unit Corporation (OTCQX: UNTC) has completed the sale of its wholly-owned contract drilling subsidiary, Unit Drilling Company, to Cactus Drilling Company, L.L.C. in an all-cash transaction valued at $120 million. The agreement was signed and closed simultaneously.
Targa Resources is making a bold move to strengthen its Permian Basin midstream network. The company announced a $1.6 billion investment to construct the Speedway NGL Pipeline, a 500-mile, 30-inch diameter system that will move up to 500,000 barrels per day of natural gas liquids (NGLs) from the Delaware and Midland basins to its fractionation and storage hub in Mont Belvieu, Texas. The project is expected online by Q3 2027.
The Texas Commission on Environmental Quality (TCEQ) recently completed its review of a new project notification for Vaquero Permian Gathering LLC’s Antelope Compressor Station in Loving County, Texas. The filing (Permit #181652) was processed and marked complete on September 26, 2025, signaling regulatory clearance for operations at the site.
The Texas Commission on Environmental Quality (TCEQ) continues to clear the path for Brazos Midstream’s growth in the Permian Basin. Most recently, TCEQ completed registration of a Standard Permit for the Cassidy Plant in Glasscock County, Texas (Project #398425, Permit #181608), operated by Brazos Midstream Operating III, LLC.
Civitas Resources (NYSE: CIVI) gained 2.2% this week after Bloomberg reported the company is exploring a potential sale. The Denver-based independent oil & gas producer, with operations in both Texas and Colorado, is said to be working with advisers to evaluate deals with similarly sized or larger peers. While no final decision has been made, the news highlights growing consolidation momentum across the U.S. shale patch.
British energy major BP (NYSE:BP) is doubling down on its U.S. offshore strategy, moving forward with a $5 billion deepwater development in the Gulf of Mexico that underscores the company’s long-term commitment to oil production.
The wave of consolidation sweeping through U.S. shale shows no signs of slowing. From Diamondback’s billion-dollar bolt-ons to Chevron’s pursuit of Hess, the playbook is clear: scale, synergies, and capital discipline matter more than ever. Against this backdrop, Magnolia Oil & Gas Corp. (NYSE: MGY) increasingly looks like a name that larger operators could circle as an acquisition target.
Occidental Petroleum (NYSE: OXY) is reportedly negotiating the sale of its OxyChem division in a deal that could top $10 billion, according to the Financial Times. If completed, the transaction would mark the largest divestiture in the company’s history — and reshape both Occidental’s balance sheet and the global petrochemical industry.
The Federal Reserve Bank of Dallas has released its Q3 2025 Energy Survey, and the message from the field is clear: U.S. shale executives are losing confidence. Conducted September 10–18 across Texas, northern Louisiana, and southern New Mexico — a region that accounts for more energy output than many OPEC members — the survey captures the growing frustration of an industry once hailed as America’s “energy engine.”
Artificial intelligence (AI) has quickly become a defining force in the energy transition. From seismic data reprocessing in the Permian Basin to powering massive new data centers in Ohio, AI is altering how oil and gas companies operate — and how much energy the world needs to fuel this transformation.
