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.
Baker Hughes highlighted a shift toward more diversified energy systems driven by energy security, combining continued investment in LNG and gas infrastructure with growing demand for power generation, carbon capture, and emerging solutions like geothermal. The company sees this as building a more resilient and distributed energy mix rather than replacing hydrocarbons, with strong momentum already showing up in orders across power, LNG, and CCS markets.
SLB indicated that North America is currently in a “wait-and-see” phase, with activity expected to remain flat in the near term as operators hold spending steady amid uncertainty. However, the region is positioned to be the fastest to rebound, with short-cycle shale activity likely to accelerate quickly if oil prices strengthen.
Shell has agreed to acquire ARC Resources in a $22 billion deal, offering a 27% premium and combining cash with shares to strengthen its global natural gas and LNG portfolio.
The global jet fuel crisis is being driven by geopolitical tensions and supply disruptions, tightening inventories and pushing fuel prices sharply higher. Airlines are responding with flight cuts and higher fares, raising concerns about broader travel disruptions if supply constraints persist.
Canada has approved Enbridge’s $4B Sunrise expansion of the Westcoast pipeline system, adding ~300 MMcf/d of natural gas capacity through new pipeline, compression, and facility upgrades. Construction begins July 2026 with startup targeted for late 2028, supporting growing LNG export demand in British Columbia.
Warwick Energy Group drilled 13 wells in 2026, with the majority concentrated in the Eagle Ford, highlighting its strategic focus on oil-weighted South Texas assets. Backed by ongoing acquisitions and a $670M royalty deal, the company continues to scale through a mix of operated drilling and asset consolidation.
Hilcorp Energy Company has drilled 31 wells in 2026 year-to-date, with the majority of activity concentrated on the North Slope (24 wells in Beechey Point County) supported by a multi-rig program, while smaller, targeted programs span the Utica/Marcellus, Gulf Coast, San Juan Basin, and Rockies. Outside Alaska, activity is limited to 2 wells in Columbiana County (Utica/Marcellus), 3 wells across Terrebonne and Vermilion (Gulf Coast), and 1 well each in Rio Arriba (San Juan Basin) and Sweetwater (Green River Basin), each operated with a single dedicated rig.
