PICKTON GAS STORAGE LLC is a Texas-based natural gas storage company developing and operating the Pickton underground gas storage asset in East Texas, primarily in Hopkins, Delta, and Lamar counties. The company focuses on converting and operating a depleted hydrocarbon reservoir as a high-deliverability natural gas storage facility serving Texas and regional gas markets.
Devon Energy Corporation posted the largest week-over-week increase in rig activity, climbing from 15 to 29 rigs and moving into the #2 position among operators in TX, OK, LA, and NM. Exxon (XTO) remained the top operator overall with 35 rigs, while Continental Resources entered the Top 10 rankings this week.
IKAV Energy Inc. and SIMCOE LLC became major operators in the San Juan Basin after acquiring BP’s mature natural gas assets, managing approximately 9,400 wellbores across New Mexico and Colorado. Their business model focuses on maximizing long-life cash flow from legacy oil and gas infrastructure, reflecting a growing industry trend of private operators acquiring mature assets from supermajors.
SM Energy drilled 65 wells year-to-date across the Permian Basin, with 37 wells in the Midland Basin and 28 wells in the Delaware Basin, highlighting a balanced multi-basin development strategy following the Civitas merger. The company’s activity was led primarily by Helmerich & Payne and Ensign rigs, supporting management’s focus on operational scale, longer laterals, improved efficiencies, and free cash flow growth in the Permian.
The U.S. Department of Energy will loan an additional 53.3 million barrels of crude oil from the Strategic Petroleum Reserve to major energy companies as part of the IEA’s coordinated effort to stabilize global oil supplies amid the Iran conflict. The release is intended to help ease market volatility and support fuel supply security while companies return the crude later with a premium to replenish the reserve.
Several smaller and previously inactive oil and gas operators, including Central Operating, Valley Resources, Virtus Energy, and Zavanna Energy, are showing renewed drilling and permitting activity across key North American basins. Their return highlights growing redevelopment opportunities in mature fields and signals potential demand growth for oilfield services, infrastructure, and regional suppliers.
EOG Resources drilled 93 Permian Basin wells year-to-date, with all activity concentrated in the Delaware Basin, led by Lea County (47 wells), Loving County (21), and Eddy County (20). The most active drilling contractors and rigs were Patterson 567 (10 wells), H&P 249 (9 wells), and both H&P 246 and Nabors 1206 (8 wells each), highlighting strong Delaware Basin operational activity and rig utilization.
At the 2026 Energy Future Forum, EOG CEO Ezra Yacob argued that the future of energy is “oil plus everything,” emphasizing that oil, natural gas, renewables, and nuclear will all be needed to support global economic growth, affordability, and energy reliability. He believes the U.S. has significant long-term production potential driven by technology, infrastructure investment, and permit reform, while warning that policy uncertainty and underinvestment could threaten future energy affordability.
VoltaGrid is rapidly emerging as one of the most closely watched private energy infrastructure companies in North America following the announcement of a reported $1 billion strategic equity investment led by Blackstone and Halliburton. The transaction reportedly values the Houston-based company at more than $10 billion, underscoring growing investor confidence in distributed power generation tied to AI infrastructure, hyperscale data centers, and rising industrial electricity demand.
At the TCU Global Energy Symposium 2026, Diamondback Energy leaders discussed how the Permian Basin has evolved from a struggling oil region into a global energy powerhouse driven by shale innovation, consolidation, and advanced drilling technologies. The conversation also highlighted how AI, automation, and growing data center power demand are creating major new opportunities for natural gas producers and reshaping the future of the oil and gas industry.
