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U.S. forces have helped Gulf producers ship over 1.5 billion barrels through Hormuz since the Iran war began.

U.S. reports helping move 1.5 billion oil barrels through Hormuz

U.S. Central Command says American forces have assisted Persian Gulf producers in exporting over 1.5 billion barrels of oil through the Strait of Hormuz since the war with Iran began. Admiral Brad Cooper presented the figures during an October 25 visit to the waterway, according to Oilprice.com. CENTCOM also reported supporting the passage of over 3,000 commercial vessels across a six-month period.

Cooper reiterated U.S. cooperation with Gulf partners and commercial shipping operators to maintain navigation through the strait. The command said its forces had removed Iranian naval mines from international shipping lanes and reported that 95% of vessel transits in recent months occurred without incident.

Tanker-tracking services cited by the publication indicated that regional oil flows had increased over the preceding two months. Some estimates placed Hormuz shipments above prewar volumes when Iranian exports were excluded. Regional security conditions and record shipping costs continued to affect oil prices. During Asian trading on October 26, Brent remained above $115 per barrel, while West Texas Intermediate held above $100.

Source: Oilprice.com
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DISCLAIMER: The summary above is based on information from third-party sources believed to be reliable, but its accuracy and completeness cannot be guaranteed. It is provided for general informational purposes only and does not constitute investment, financial, tax, legal, or other professional advice, nor a recommendation or solicitation to buy or sell any security, commodity, or investment product. Markets, regulations, and circumstances can change, and the information may not reflect the most current developments. You should conduct your own research and consult a qualified financial advisor, CPA, or other professional before making decisions based on this content. The publisher and its affiliates disclaim any liability for losses or damages arising from reliance on the information provided above.
EQT plans a $50B+ all-stock acquisition of Range Resources, creating the largest vertically integrated U.S. natural gas producer.

EQT to acquire Range Resources in $13 billion stock deal

EQT announced on October 26, 2026, that it had agreed to purchase Range Resources through a share exchange worth approximately $12.83 billion. Range investors would receive 0.987 EQT shares for every share they own, implying a value of $54.91 per share, or 20.6% above Range’s previous closing price. The combined company would have an enterprise value exceeding $50 billion, including debt.

Together, the Appalachian Basin producers would have daily output above 9 billion cubic feet of natural gas equivalent, nearly 3 million net acres and enough drilling locations for more than three decades of activity. Their network would include over 3,700 miles of midstream infrastructure. The combination comes as producers seek to serve growing gas demand from data centers and strengthen their production and marketing capabilities.

Completion is anticipated between January and March 2027, pending shareholder and regulatory consent. Ownership would be split approximately 73% for existing EQT investors and 27% for Range shareholders. EQT projects annual savings of about $325 million within two years by combining administrative functions, field operations and commodity marketing. Its management would run the business from Canonsburg, Pennsylvania, with two Range representatives joining EQT’s board.

Source: U.S. News & World Report

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DISCLAIMER: The summary above is based on information from third-party sources believed to be reliable, but its accuracy and completeness cannot be guaranteed. It is provided for general informational purposes only and does not constitute investment, financial, tax, legal, or other professional advice, nor a recommendation or solicitation to buy or sell any security, commodity, or investment product. Markets, regulations, and circumstances can change, and the information may not reflect the most current developments. You should conduct your own research and consult a qualified financial advisor, CPA, or other professional before making decisions based on this content. The publisher and its affiliates disclaim any liability for losses or damages arising from reliance on the information provided above.
Baker Hughes’ U.S. rotary rig count hit 603 on Oct. 9, its highest since May 2024, up 5 weekly and 56 year over year.

U.S. rig count reaches 603 as oil drilling expands

The U.S. rotary drilling rig total rose to 603 on October 9, adding five rigs over the preceding week, according to Petroleum News, citing Baker Hughes. This marked the first reading above 600 since May 31, 2024. Compared with the same period in 2025, when 547 rigs were operating, the national count was higher by 56.

Oil-directed drilling accounted for the weekly increase, with six additional rigs bringing that category to 462. Natural gas rigs totaled 132, compared with 133 a week earlier, while the miscellaneous category remained at nine. On an annual basis, oil and gas rigs were higher by 44 and 12, respectively. Horizontal drilling accounted for 543 rigs.

Texas added three rigs to reach 281, Louisiana gained two to total 38, and New Mexico added one to reach 99. The Permian Basin remained the country’s busiest drilling basin, with 274 rigs, four more than a week earlier and 24 more than a year earlier. Alaska held at 12 rigs, compared with nine a year earlier.

Source: Petroleum News
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DISCLAIMER: The summary above is based on information from third-party sources believed to be reliable, but its accuracy and completeness cannot be guaranteed. It is provided for general informational purposes only and does not constitute investment, financial, tax, legal, or other professional advice, nor a recommendation or solicitation to buy or sell any security, commodity, or investment product. Markets, regulations, and circumstances can change, and the information may not reflect the most current developments. You should conduct your own research and consult a qualified financial advisor, CPA, or other professional before making decisions based on this content. The publisher and its affiliates disclaim any liability for losses or damages arising from reliance on the information provided above.
Vance announced plans to expand a Texas refinery with Delek US to boost fuel supplies and lower prices before midterms.

U.S. plans to back Delek’s Texas refinery expansion

The Trump administration plans to support an expansion of Delek US Holdings Inc.’s refinery in Tyler, Texas, through the Defense Production Act of 1950. Vice President JD Vance announced the initiative during a visit to Tyler. The facility has processing capacity of 74,000 barrels per day, making it one of the country’s smaller refineries.

The initiative forms part of a broader federal effort to increase gasoline and diesel production. A White House official said the administration was working with multiple refineries on funding under the law. The report placed the announcement against a backdrop of U.S. gasoline prices running 41% above their year-earlier level and diesel prices near historical highs.

The law allows federal support for domestic industries considered important to national security. Earlier presidential determinations covered petroleum, liquefied natural gas, coal power and grid infrastructure. The report provided no investment figure or projected capacity increase for Tyler. Refinery projects typically take years to complete, so additional fuel production would follow a longer development schedule.

Source: Rigzone
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DISCLAIMER: The summary above is based on information from third-party sources believed to be reliable, but its accuracy and completeness cannot be guaranteed. It is provided for general informational purposes only and does not constitute investment, financial, tax, legal, or other professional advice, nor a recommendation or solicitation to buy or sell any security, commodity, or investment product. Markets, regulations, and circumstances can change, and the information may not reflect the most current developments. You should conduct your own research and consult a qualified financial advisor, CPA, or other professional before making decisions based on this content. The publisher and its affiliates disclaim any liability for losses or damages arising from reliance on the information provided above.
ONEOK has completed its $4.425B acquisition of Brazos Midstream’s natural gas gathering and processing assets in the Midland Basin.

ONEOK expands Midland Basin capacity with $4.425 billion deal

ONEOK has completed its $4.425 billion acquisition of Brazos Midstream’s natural gas gathering and processing assets in the Midland Basin, according to Rigzone’s October 8 report. The purchased network includes approximately 700 miles of gathering pipelines and 1.1 billion cubic feet per day of processing capacity, counting facilities under construction.

The deal brings ONEOK’s Midland Basin processing capacity to about 2.3 billion cubic feet per day, more than twice its previous level when projects under construction are included. The Cassidy 2 processing plant is expected to be finished in the third quarter of 2027. Long-term fixed-fee contracts cover 600,000 dedicated acres, with more than 12 years remaining on average.

The acquisition was supported by Apollo Global Management’s $9 billion investment. ONEOK said the transaction advances its adjusted EBITDA growth objectives for the next five to seven years and strengthens flexibility for potential dividend increases and share repurchases. Management also linked the combined transactions to reaching a debt-to-EBITDA ratio of 3.25 times.

Source: Rigzone
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Ranger Land & Minerals curates weekly insights from across the oil and gas industry to keep our readers informed. To receive news like this directly in your inbox, join our free newsletter. If you’d like to learn more about mineral rights and oil royalty opportunities, contact us to speak with a representative.
DISCLAIMER: The summary above is based on information from third-party sources believed to be reliable, but its accuracy and completeness cannot be guaranteed. It is provided for general informational purposes only and does not constitute investment, financial, tax, legal, or other professional advice, nor a recommendation or solicitation to buy or sell any security, commodity, or investment product. Markets, regulations, and circumstances can change, and the information may not reflect the most current developments. You should conduct your own research and consult a qualified financial advisor, CPA, or other professional before making decisions based on this content. The publisher and its affiliates disclaim any liability for losses or damages arising from reliance on the information provided above.
Barnett-Woodford holds 3 billion barrels of recoverable oil across 6,400+ Midland Basin drilling locations, per EIR.

Barnett-Woodford expands Midland Basin oil development options

Enverus Intelligence Research (EIR) has identified more than 6,400 potential drilling sites in the Barnett-Woodford, representing roughly 3 billion barrels of recoverable oil awaiting development in the Midland Basin. According to Oil & Gas 360, these formations rank first among the basin’s interval groups for remaining undeveloped oil.

Average Barnett-Woodford well performance has exceeded the Midland Basin baseline by more than 30% since 2025. Assuming well costs of $800 per foot, EIR estimates a breakeven oil price near $41 per barrel, comparable with recent Midland and Delaware Basin averages. Encouraging results have supported broader operator programs, following limited inclusion in development models approximately 18 months earlier.

After adjusting for development maturity, well density and timing, EIR ranked Ector, Crane and northwestern Upton counties as the leading area, with recent wells averaging estimated breakevens around $42 per barrel. Southeastern Andrews, southwestern Martin and western Midland counties followed at about $46 per barrel. EIR describes the play as the largest Lower 48 expansion opportunity for oil-focused drilling.

Source: Oil & Gas 360
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Ranger Land & Minerals curates weekly insights from across the oil and gas industry to keep our readers informed. To receive news like this directly in your inbox, join our free newsletter. If you’d like to learn more about mineral rights and oil royalty opportunities, contact us to speak with a representative.
DISCLAIMER: The summary above is based on information from third-party sources believed to be reliable, but its accuracy and completeness cannot be guaranteed. It is provided for general informational purposes only and does not constitute investment, financial, tax, legal, or other professional advice, nor a recommendation or solicitation to buy or sell any security, commodity, or investment product. Markets, regulations, and circumstances can change, and the information may not reflect the most current developments. You should conduct your own research and consult a qualified financial advisor, CPA, or other professional before making decisions based on this content. The publisher and its affiliates disclaim any liability for losses or damages arising from reliance on the information provided above.
BLM announces Nov. 18 oil and gas lease sale offering 30 parcels totaling 8,071 acres in New Mexico, Oklahoma, Texas, and Kansas.

BLM to auction 30 oil and gas lease parcels in November 2026

The Bureau of Land Management has scheduled a November 18, 2026, auction for 30 oil and gas lease parcels spanning 8,071 acres in New Mexico, Oklahoma, Kansas and Texas. Announced on September 18, the sale will take place online through Efficient Markets. Parcel details and information about upcoming auctions are available through the agency’s National Fluids Lease Sale System.

BLM completed scoping in June 2026 and concluded public comments on the parcels and their environmental review in August. An additional public protest period closes on October 19. Maps, parcel information and protest submission instructions are available on the agency’s ePlanning pages for the Carlsbad, Farmington and Oklahoma field offices.

For operators, oil and gas leasing begins the federal resource development process. Operators must then outline proposed development in a drilling permit application before work can begin. The agency assesses these plans, publishes the applications for public input, examines environmental effects and works with state partners and other interested parties. Parcels offered in federal lease sales carry conditions designed to protect natural resources.

Source: Bureau of Land Management
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Ranger Land & Minerals curates weekly insights from across the oil and gas industry to keep our readers informed. To receive news like this directly in your inbox, join our free newsletter. If you’d like to learn more about mineral rights and oil royalty opportunities, contact us to speak with a representative.
DISCLAIMER: The summary above is based on information from third-party sources believed to be reliable, but its accuracy and completeness cannot be guaranteed. It is provided for general informational purposes only and does not constitute investment, financial, tax, legal, or other professional advice, nor a recommendation or solicitation to buy or sell any security, commodity, or investment product. Markets, regulations, and circumstances can change, and the information may not reflect the most current developments. You should conduct your own research and consult a qualified financial advisor, CPA, or other professional before making decisions based on this content. The publisher and its affiliates disclaim any liability for losses or damages arising from reliance on the information provided above.
Matador completes $1.255B Paloma Permian deal, adding 16,500 acres and 156+ drilling locations in New Mexico.

Matador expands Delaware Basin holdings with Paloma deal

Matador Resources has completed its $1.255 billion purchase of Paloma Permian LLC from EnCap Investments, World Oil reported on October 1. The transaction adds about 16,500 net acres in New Mexico’s Eddy and Lea counties, with most of the land held by production. The company identified more than 156 net drilling locations, measured on a two-mile lateral basis, across at least nine potential target intervals, plus 59 approved drilling permits.

Matador intends to start drilling up to 25 wells on the acquired acreage by the end of 2027. Since June 1, 2026, the properties’ production has been approximately 10% higher than the estimates used to evaluate the acquisition, mainly because of newer Eddy County wells. Management sees opportunities to improve development efficiency and increase use of its existing midstream systems.

If its separate Ridge Runner Resources II purchase closes as expected in October, Matador anticipates a core Delaware Basin position of roughly 240,000 net acres during the fourth quarter. Together with acreage obtained in a May federal lease sale, these additions would represent nearly 20% growth from October 2025.

Source: World Oil
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Ranger Land & Minerals curates weekly insights from across the oil and gas industry to keep our readers informed. To receive news like this directly in your inbox, join our free newsletter. If you’d like to learn more about mineral rights and oil royalty opportunities, contact us to speak with a representative.
DISCLAIMER: The summary above is based on information from third-party sources believed to be reliable, but its accuracy and completeness cannot be guaranteed. It is provided for general informational purposes only and does not constitute investment, financial, tax, legal, or other professional advice, nor a recommendation or solicitation to buy or sell any security, commodity, or investment product. Markets, regulations, and circumstances can change, and the information may not reflect the most current developments. You should conduct your own research and consult a qualified financial advisor, CPA, or other professional before making decisions based on this content. The publisher and its affiliates disclaim any liability for losses or damages arising from reliance on the information provided above.
US energy firms added rigs for a third consecutive week, marking the first such streak since July, Baker Hughes said.

U.S. drilling rig count reaches 599 after third weekly gain

U.S. energy firms added four oil and gas rigs in the week ended September 25, bringing the total to 599, according to Baker Hughes data reported by BOE Report. It was the third consecutive weekly increase and the highest combined count since May 2024. The total stood 50 rigs, or 9%, above its level a year earlier. Oil rigs rose by three to 455, gas rigs increased by one to 135, and miscellaneous rigs held at nine.

In the Permian Basin of West Texas and eastern New Mexico, the count increased by one to 270, its highest since June 2025. Oklahoma also added one rig, reaching 52, its highest count since May 2025. Rig counts provide an early indication of drilling activity and potential future production.

The report also cited U.S. Energy Information Administration projections for 2026. Crude oil output is expected to reach 13.8 million barrels per day, compared with 13.7 million in 2025. Natural gas output is projected to rise from 107.6 billion to 111.7 billion cubic feet per day, with demand for electricity used by data centers and for liquefied natural gas exports contributing to the outlook.

Source: BOE Report

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Ranger Land & Minerals curates weekly insights from across the oil and gas industry to keep our readers informed. To receive news like this directly in your inbox, join our free newsletter. If you’d like to learn more about mineral rights and oil royalty opportunities, contact us to speak with a representative.
DISCLAIMER: The summary above is based on information from third-party sources believed to be reliable, but its accuracy and completeness cannot be guaranteed. It is provided for general informational purposes only and does not constitute investment, financial, tax, legal, or other professional advice, nor a recommendation or solicitation to buy or sell any security, commodity, or investment product. Markets, regulations, and circumstances can change, and the information may not reflect the most current developments. You should conduct your own research and consult a qualified financial advisor, CPA, or other professional before making decisions based on this content. The publisher and its affiliates disclaim any liability for losses or damages arising from reliance on the information provided above.
The US EIA raised its forecasts for crude oil and lease condensate production in its September Short-Term Energy Outlook.

EIA sees U.S. crude oil output topping 14 million bpd in 2027

The U.S. Energy Information Administration raised its forecasts for crude oil and lease condensate production in its September Short-Term Energy Outlook. It now expects U.S. output to average 13.83 million barrels per day in 2026 and 14.26 million in 2027, compared with August forecasts of 13.80 million and 14.15 million, respectively. The September report also puts 2025 production at 13.66 million barrels per day, up from the figure used in August.

The forecast shows output rising from 13.88 million barrels per day in the third quarter of 2026 to 14.39 million in the final quarter of 2027. If the annual projection is realized, 2027 would be the first year U.S. crude production averages more than 14 million barrels per day. These figures are forecasts, while the 2025 figure reflects reported production.

The Lower 48 states outside the federal Gulf account for most of the projected output: 11.38 million barrels per day in 2026 and 11.87 million in 2027. The federal Gulf is projected to contribute 2.00 million and 1.89 million barrels per day in those years, while Alaska contributes 0.45 million and 0.50 million. Readers comparing national forecasts with individual wells can use Ranger’s guide to oil well production for context on daily production rates.

Source: Rigzone
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Ranger Land & Minerals curates weekly insights from across the oil and gas industry to keep our readers informed. To receive news like this directly in your inbox, join our free newsletter. If you’d like to learn more about mineral rights and oil royalty opportunities, contact us to speak with a representative.
DISCLAIMER: The summary above is based on information from third-party sources believed to be reliable, but its accuracy and completeness cannot be guaranteed. It is provided for general informational purposes only and does not constitute investment, financial, tax, legal, or other professional advice, nor a recommendation or solicitation to buy or sell any security, commodity, or investment product. Markets, regulations, and circumstances can change, and the information may not reflect the most current developments. You should conduct your own research and consult a qualified financial advisor, CPA, or other professional before making decisions based on this content. The publisher and its affiliates disclaim any liability for losses or damages arising from reliance on the information provided above.