Summit Petroleum Builds a Multi-Year, Full-Section Stacked Reservoir Development in the Midland Basin

Summit Petroleum is executing what appears to be a multi-year, full-section development program in Howard County’s Midland Basin, centered on the Mary Lou lease and organized around centralized multi-well pads that support long-term manufacturing-style drilling. The coordinated permitting strategy, phased rig deployment, and variation in projected depths suggest the project is positioned to systematically develop a stacked reservoir system over multiple drilling campaigns, creating sustained opportunities for drilling, completions, production, and infrastructure services.

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SAXUM OPCO LLC Advances Neal Development Through Disciplined Pad Execution in Upton County

SAXUM OPCO’s Neal Development in Upton County demonstrates a disciplined, phased pad-development strategy, moving from well permitting to drilling and production infrastructure in just 51 days, with the Central Tank Battery permitted only one day after drilling concluded. The project exemplifies how operators in the mature Midland Basin maximize capital efficiency by integrating multi-well pad drilling, shared production facilities, and phased execution to accelerate production while preserving future drilling inventory.

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Gibson Energy GIBSON WINK TERMINAL Expansion Update

Gibson Energy’s Wink Terminal is a strategically located crude oil gathering, storage, and pipeline hub in the Delaware Basin that connects Permian producers to major Gulf Coast refining and export markets. Integrated with Gibson’s expanding pipeline network and the Gateway Terminal near Corpus Christi, the facility provides producers with flexible takeaway options while supporting the company’s long-term, fee-based infrastructure growth strategy.

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Walters Exploration Company

Walters Exploration Company is a small independent Texas oil operator focused on conventional development in West Texas, with 10 well permits since 2017, including 9 wells that progressed to drilling activity. After limited drilling activity over the past several years, the company drilled its first well of 2026 on July 6 in Nolan County, signaling renewed investment in its mature conventional asset base.

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Perun Energy LLC Begins Delaware Basin Development Following Asset Acquisition in Reeves County

Perun Energy LLC has begun establishing operations in Reeves County after acquiring producing facilities from UpCurve Energy LLC and assuming ownership of multiple TCEQ-permitted production assets. The company has also initiated its first horizontal drilling program with three Wolfbone wells, signaling the start of active development in the Delaware Basin.

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Greenfire Acquires Connacher in C$1.27B Alberta Oil Sands Deal

Greenfire Resources will acquire Connacher Oil and Gas for approximately C$1.27 billion, adding the Great Divide oil sands project and increasing combined production to approximately 34,000 bpd. The transaction expands Greenfire’s long-life reserves, creates an estimated C$30 million in annual synergies, and positions the company for future production growth toward 65,000 bpd.

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Shell Targets 2027 Drilling for Dragon Offshore Gas Project in Venezuela

Shell has begun the contracting process for its Dragon offshore gas project, with a four-well drilling program targeted to begin in the second quarter of 2027 following a final investment decision. The project, together with Shell’s pending acquisition of ARC Resources, reflects the company’s continued strategy of expanding its global natural gas and LNG supply portfolio.

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