In a market where many operators are repositioning around natural gas and LNG-linked demand, Civitas Resources, Inc. is taking a notably different path. An analysis of Civitas’ 2025 wells drilled shows a drilling program that is deliberately and structurally oil-centric, with capital focused almost entirely on oil-weighted basins, counties, and fields.
Baytex Energy Corp. has completed the sale of its U.S. Eagle Ford assets for US$2.14 billion (≈C$2.96 billion), marking a major strategic pivot for the company.
Crescent Energy (CRGY) has completed its all-stock acquisition of Vital Energy, strengthening its balance sheet and accelerating its expansion in the Permian Basin—one of North America’s most valuable oil plays.
For FY 2026, CNRL plans an operating capital budget of approximately C$6.3 billion, targeting average production of 1.59–1.65 MMboe/d. At the midpoint, this represents roughly 3% year-over-year growth, or about 50,000 boe/d, building on strong momentum from 2024 and 2025.
Mewbourne Oil’s activity in Block 43T4S, Crane County, Texas follows a disciplined, textbook unconventional development cadence: permit → drill → validate → build facilities → scale. The data strongly supports the conclusion that this program began with a small pilot phase, progressed through technical validation, and has now transitioned into a full multi-well development campaign.
For FY 2026, CNRL plans an operating capital budget of approximately C$6.3 billion, targeting average production of 1.59–1.65 MMboe/d. At the midpoint, this represents roughly 3% year-over-year growth, or about 50,000 boe/d, building on strong momentum from 2024 and 2025.
Ovintiv continues to align upstream execution with long-term market access after signing a 12-year agreement with Pembina for 0.5 million tonnes per annum (mtpa) of liquefaction capacity at the Cedar LNG facility, with commercial operations expected in late 2028. The agreement provides Ovintiv with direct exposure to global LNG markets while strengthening the value of its core Canadian natural gas assets.
Meg O’Neill, CEO of Woodside Energy, has resigned to take over as Chief Executive Officer of BP, marking one of the most consequential executive moves in Big Oil in recent years. The appointment makes O’Neill BP’s first female CEO in its 116-year history and signals a decisive shift in strategy for the UK supermajor.
Civitas Permian Operating has taken another deliberate step to strengthen its Midland Basin operating footprint, acquiring approximately 13 miles of natural gas pipeline infrastructure from Oxy-affiliated Oxyrock Operating in Howard and Glasscock Counties. While the transaction may look incremental on paper, it is strategically important—because in today’s Permian, control of gas infrastructure is control of development pace, cost structure, and execution certainty.
Kelt Exploration Ltd. continues to deepen its commitment to the Wembley field in northwest Alberta, with a newly filed facility licence amendment that underscores a shift toward higher-throughput, pad-based development supported by modern drilling and compression infrastructure.
