n early January 2026, Targa Delaware LLC filed a Standard Permit air authorization for the YETI Gas Plant — formally kicking off regulatory approval for what will be one of the most important new gas processing facilities in the Permian Delaware Basin.
A quiet but highly telling transaction hit the Texas Commission on Environmental Quality (TCEQ) on January 6, 2026. Fifteen active oil and gas air permits in Washington County, Texas were officially transferred from INEOS USA Oil & Gas LLC to Redbud E & P, Inc. under New Source Review (NSR) Change-of-Ownership filings.
U.S. drilling activity continues to soften. The U.S. rig count fell by two this week to 544 active rigs in the Baker Hughes report dated January 11, 2026, remaining 40 rigs below last year’s level.
Devon Energy’s $79 million acquisition of federal oil and gas leases in New Mexico’s Eddy County marks a defining moment for the Permian Basin as the industry enters 2026. With bids reaching an unprecedented $218,751 per acre, the record-setting sale signals not only the enduring value of top-tier shale acreage, but also how recent changes in federal royalty policy are reshaping investment strategies across U.S. oil and gas. In one of North America’s most prolific producing counties, Devon’s move underscores a broader shift toward securing long-life, capital-efficient inventory in the core of the Permian Basin.
After a year of record Permian output, transformational M&A, and heavy investment in technology, ExxonMobil enters 2026 with a very different operating posture than most global oil companies. While many peers are managing decline, Exxon is building what amounts to a vertically integrated energy-manufacturing platform — one designed to compound recovery, cash flow, and optionality across oil, gas, chemicals, and low-carbon markets.
Ovintiv’s 2025 drilling program is not just about where rigs are running — it is about where the company is choosing to build long-term value versus where it is preparing to monetize assets. That distinction became very clear on Ovintiv’s Q3-2025 earnings call, where management outlined a portfolio reset centered on core growth engine: the Permian Basin — while preparing to exit the Anadarko Basin.
In 2025, Mewbourne Oil Company is running one of the most disciplined, data-driven private-operator drilling programs in North America. While many independents are dialing activity up and down with commodity prices, Mewbourne is executing a two-basin strategy that blends Delaware Basin manufacturing growth with Anadarko Basin cash-flow stability.
Venezuela has re-entered global energy conversations in a dramatic way, reigniting debate about the future of its oil sector and the ripple effects across the oilfield services industry. While headlines suggest momentum and opportunity, the consensus view emerging from analysts and investors is more measured: Venezuela represents a long-cycle redevelopment story, not an immediate production surge.
Canada’s LNG story is entering a decisive phase. After years of planning and capital investment, West Coast LNG export capacity is finally moving from concept to reality, creating a structural shift for Canadian natural gas markets. With projects such as LNG Canada, Cedar LNG, and Woodfibre LNG progressing toward late-decade start-ups, Canadian gas is gaining direct access to global markets rather than relying almost exclusively on North American demand and AECO pricing.
Strathcona Resources has filed a Directive 056 licence amendment to install additional electric pumps at its Tucker Lake multi-well bitumen battery (F-32143). The amendment is a capacity and reliability expansion at an existing facility, not a new build. The filing reflects a response to increasing fluid handling requirements driven by continued drilling and production activity in the Tucker Lake area.
