Weatherford International has agreed to acquire NCS Multistage Holdings in a $151 million cash-and-stock transaction, expanding its well completions technology portfolio and strengthening its position in unconventional shale markets. The company expects the acquisition to generate at least $15 million in annual cost synergies within 18 months while enhancing its ability to optimize oil and gas well performance for customers.
A comparison of Occidental’s 2026 Permian drilling activity and recently transferred air permits suggests the company sold mature, non-core Midland Basin assets while retaining its highest-priority development areas in the core Permian. The transaction strengthens Hilcorp’s growing position as a major Permian operator focused on maximizing value from legacy producing assets that no longer fit the capital allocation strategies of larger public E&P companies.
Devon Energy has reportedly received an approximately $8 billion offer from Stone Ridge Asset Management for its Marcellus shale assets in Pennsylvania, which were acquired through the recent merger with Coterra. The proposal highlights strong investor demand for long-life natural gas assets as Devon evaluates opportunities to optimize its portfolio following the merger.
Chevron CEO Mike Wirth said Venezuela must lower taxes and royalties and provide greater fiscal clarity before the company will commit significant new capital to the country. While Chevron plans to increase production by 50% over the next two years using locally generated cash flow, broader investment will depend on reforms that improve returns for foreign investors.
The latest comparison between our March and May 2026 Account Reports shows a clear shift in market activity across the U.S. oil and gas sector. The data points to a more active drilling environment, with operators increasing rig activity, expanding permit inventories, and bringing new drilling programs into the market.
The closure of the Strait of Hormuz has exposed the vulnerability of global oil and gas supply chains. With Gulf exports disrupted, energy buyers across Asia and Europe are facing higher prices, tighter supplies, and renewed pressure to diversify away from one of the world’s most critical chokepoints.
Kinetik’s Kings Landing sour gas conversion project in New Mexico is designed to expand the company’s ability to process higher H2S and CO2 gas volumes across its Delaware Basin system while supporting long-term producer development plans in the region. The project has received all major regulatory approvals, construction is underway, and Phase 1 is expected to enter service by the end of 2026.
Keyera Energy Ltd. has filed an application with the Alberta Energy Regulator for the proposed Campbell Creek Gas Plant in the Elmworth area west of Grande Prairie, highlighting continued investment in liquids-rich Montney infrastructure. The proposed sour gas processing facility would include significant gas handling, condensate recovery, acid gas injection, and compression capacity as regional drilling and LNG-driven natural gas demand continue to grow.
Exxon Mobil shareholders approved the company’s move to redomicile to Texas, ending its 144-year incorporation history tied to New Jersey and Standard Oil. The company cited Texas’ strong support for the oil and gas industry, favorable legal environment, and growing operational presence in the state.
Oil prices surged after U.S. strikes in Iran increased uncertainty around peace negotiations and disruptions through the Strait of Hormuz, a key global energy shipping route. Analysts warn that even if a deal is reached, restricted oil and LNG flows could keep energy markets tight for months.
