Occidental CEO Vicki Hollub will retire on June 1, 2026, with COO Richard Jackson set to take over as President and CEO. The transition signals strategic continuity, with a continued focus on operational efficiency, asset optimization, and disciplined growth.
ExxonMobil is driving Permian production growth by improving well performance rather than increasing drilling activity, targeting a doubling of output to 2.5 million bpd by 2030. A key driver is advanced lightweight proppant, delivering up to 20% higher recovery per well and enabling significant efficiency gains across its Midland- and Delaware-focused operations.
Enbridge and Energy Transfer have received a key U.S. permit to reverse flows on the Bakken Pipeline and build a new connection to the Dakota Access Pipeline, enabling more crude to move south into U.S. markets. The project will unlock underutilized capacity and create a more efficient export route for growing Canadian and Bakken oil production.
Presidio Petroleum continues to expand its footprint from APA Corporation through a recent air permit transfer for the Bivins East 4-41H project in Texas. The move highlights Presidio’s ongoing strategy of acquiring and optimizing mature APA assets while taking over operational and regulatory responsibilities.
New Height Energy is expanding in the Permian Basin by acquiring existing producing assets rather than investing in new drilling programs. This strategy is evidenced by multiple air permit transfers from Scout Energy, reflecting a shift in operatorship and a focus on production optimization over exploration.
Atlas Operating LLC is expanding into East Texas through the acquisition of 16 permitted production assets from BRG Lone Star, signaling a strategic shift toward consolidating legacy operations in mature basins. This move, combined with minimal recent drilling activity, highlights a **capital-efficient growth strategy focused on stable production and asset optimization rather than new development.
BPX is driving BP’s growth with the vast majority of wells drilled YTD concentrated in onshore shale plays, supported by repeat contractor activity like Nabors rigs that signal efficient, scalable operations. This aligns with BP’s strategy to prioritize short-cycle, capital-efficient assets that deliver fast returns and stable production.
Oklahoma drilling activity remains steady, led by operators like Mewbourne actively running rigs, while others such as Continental and Citation hold a large backlog of undrilled permits. This gap between current rig activity and open permits signals strong potential for increased drilling and future rig demand across key plays.
The UAE is exiting OPEC to gain more flexibility in increasing oil production and advancing its long-term energy strategy, including a target of 5 million barrels per day by 2027. While the move is framed as a policy shift rather than a political break, it could weaken OPEC’s influence over global supply in the long run.
TG Natural Resources’ 2026 drilling activity is fully concentrated in the Haynesville Shale, with operations in Harrison and Panola counties supported by a small, consistent group of rigs and contractors, reinforcing a highly efficient, factory-style development model. Strategically, the company is expanding its long-term gas position through acquisitions like the Chevron East Texas assets, aligning its growth with LNG demand and establishing itself as a key private consolidator in the Haynesville.
