A cornerstone of Exxon’s Q2 success was Permian Basin output, which hit a record 1.6 million barrels of oil equivalent per day (boe/d). This helped boost total upstream production to 4.6 million boe/d — the highest second-quarter figure since the Exxon-Mobil merger over 25 years ago.
The U.S. shale sector is entering a new era—one defined not by breakneck growth, but by resilience, precision, and reinvention. After reviewing public statements from top operators (who collectively drill 65% of all U.S. wells), and applying AI to extract common themes, here are the top five trends transforming oil & gas strategy for the remainder of 2025.
When Vicki Hollub became the CEO of Occidental Petroleum nearly a decade ago, she made history as the first woman to lead a major U.S. oil and gas company. But her story isn’t just about breaking barriers—it’s about reshaping an industry at a time of global uncertainty, technological transformation, and mounting energy demand.
In Q2 2025, Matador reported record quarterly production of 209,013 BOE/d, including 122,875 barrels of oil per day. These volumes exceeded prior guidance, driven by outperformance from both new wells and base production. Notably, the company turned to sales 32 gross (22.8 net) operated wells, further solidifying its execution capabilities.
Liberty Energy Inc. (NYSE: LBRT) delivered a strong second quarter performance in 2025, highlighting its ability to outperform in a softening completions market while pushing forward with game-changing technology and infrastructure initiatives. Completions Engineer Contact Directory – $25 Includes: Contact, Account, Title, Email…… Despite broader uncertainty across the oilfield services…
ConocoPhillips, one of the top U.S. oil and gas producers, is in advanced talks to sell approximately 300,000 net acres in Oklahoma’s Anadarko Basin to privately held Stone Ridge Energy, according to Reuters. The assets produce around 39,000 boepd—roughly half of which is natural gas—and the deal is reportedly valued at $1.3 billion.
Operationally, CNX delivered strong results across its core acreage. The company drilled three deep Utica wells with an average lateral length of 11,100 feet in just 36 days—representing a 46% improvement over 2023. Capital costs for these wells came in at $1,750 per foot, beating previous targets.
The company reported $1.2 billion in revenue for Q2 2025, alongside an adjusted EBITDA of $231 million. While it posted a net loss of $49 million—impacted by a $28 million non-cash impairment related to Colombian operations—management remained confident in the long-term trajectory.
On July 16, 2025, the Texas Commission on Environmental Quality (TCEQ) approved a New Source Review (NSR) Change of Ownership for Permit #117982, officially transferring ownership of the MCCARN A-5H & B-1H Tank Battery from BPX Operating Company to Warwick-Artemis LLC. This regulatory milestone reflects the broader reshuffling of premier upstream assets in South Texas, once held by global energy giant BHP Billiton Petroleum.
Phillips 66 has officially registered the Condor Compressor Station in Martin County, Texas, marking another strategic step in its buildout of natural gas infrastructure tied to the Dos Picos midstream complex. The registration was filed under Project #395482 and completed on July 14, 2025, with the Texas Commission on Environmental Quality (TCEQ).
