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Continental Resources agreed to acquire FireBird Energy II, adding 54,000 net acres and 32,000 boe/d of production.

Continental adds FireBird assets in Midland Basin acquisition

Continental Resources announced on August 20 that it has agreed to acquire FireBird Energy II, adding approximately 54,000 net acres in the Midland Basin and about 32,000 barrels of oil equivalent per day of production. Oil represents roughly 69% of the acquired output. The asset package includes approximately 147,000 net resource acres across more than six stacked-pay reservoirs and 307 gross operated development locations, with Continental expected to operate about 95% of the acquired acreage. Financial terms were not disclosed.

The transaction is expected to close in September and would bring Continental’s Permian acreage growth to more than 40% over a 14-month period. CEO Doug Lawler said the acquired inventory and its proximity to the company’s existing operations support the Permian’s role in Continental’s portfolio. A larger, more connected position can help operators drill longer laterals, consolidate infrastructure and coordinate development across a broader inventory. For readers following Permian Basin acquisition activity, the deal adds immediate production as well as hundreds of future operated drilling locations in the Midland Basin.

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.
APA Corp. raised its 2026 US oil production forecast to 123,000 bpd from 122,000 while keeping planned domestic capital spending at $1.3B.

APA raises 2026 U.S. oil outlook on Permian efficiency

APA Corp. raised its 2026 U.S. oil production forecast to 123,000 barrels per day from 122,000 while keeping planned domestic capital spending at $1.3 billion. The revision followed second-quarter oil production of nearly 123,500 b/d in the Permian Basin, about 2% above management’s estimate and broadly consistent with the prior year. APA holds 159,000 net acres in the Delaware Basin and 287,000 net acres in the Midland Basin.

Combined production from the Permian, Egypt and the North Sea totaled 410,000 barrels of oil equivalent per day, compared with approximately 465,000 boe/d a year earlier. The difference reflected natural gas and international volumes, including partner volumes in Egypt. Chief Executive John Christmann said improvements in drilling, completions and field operations are increasing reliability and supporting a goal of $3.5 million in monthly operating savings by year-end. Management believes its Permian inventory can sustain steady production for more than a decade.

APA also plans to maintain broadly stable production in the Permian and Egypt while investing $230 million this year in the GranMorgu development offshore Suriname, where first oil is targeted for 2028. The project is estimated to contain more than 750 million barrels, with APA’s net production expected to approach 40,000 b/d by 2029. APA reported second-quarter net income of $747 million on $2.4 billion in revenue, providing investors with additional context on its operating performance and future development program.

Source: Oil & Gas Journal
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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.
Devon Energy approves Solitude Pipeline, a joint venture building two gas pipelines from the Permian Basin to Katy, Texas.

Solitude pipeline project advances Permian gas capacity

WhiteWater, Devon Energy, MPLX, Diamondback Energy and Western Midstream Partners have made a final investment decision on the Solitude Pipeline System, which will comprise two 48-inch natural gas pipelines from the Permian Basin to Katy, Texas. The project is backed by multiyear capacity commitments from customers that are largely investment-grade. WhiteWater owns 50% of the venture, Devon 25%, MPLX 10%, and Diamondback and Western Midstream 7.5% each.

The system will be developed in stages, with approximately 2.25 billion cubic feet per day of initial capacity planned for late 2029 and another 2.25 billion cubic feet per day in 2030. That would bring total planned capacity to about 4.5 billion cubic feet per day, with room for later additions based on demand. Initial service is targeted for the second half of 2029, pending customary regulatory and other approvals.

Solitude would provide another long-distance outlet for rising associated natural gas output from the Permian and connect West Texas supplies with the Katy hub and broader Gulf Coast markets. For investors, the contracted customer base supports the project’s economics, while the additional takeaway capacity is relevant to producers and midstream operators preparing for continued regional output and growing Gulf Coast gas demand.

Source: Seeking Alpha
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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.
Permian Basin projects led Helmerich & Payne drilling work as executives remained upbeat amid market volatility.

Permian drilling demand supports Helmerich & Payne activity

Helmerich & Payne reported stronger-than-expected North American drilling activity in its fiscal third quarter, which ended June 30, with the Permian Basin accounting for a significant share of current development work. Industrial Info Resources is tracking more than $3 billion in active and proposed projects involving H&P’s drilling services, with about 75% of that investment value tied to Texas. Devon Energy and Ovintiv together represent roughly two-thirds of the projects in Industrial Info’s database.

Ovintiv accounts for nearly $1 billion of tracked investment through multiple Permian drilling programs. Its plans include at least 55 new wells near Lenorah, Texas, and at least 15 wells near Big Spring by the end of 2026. Devon is also advancing sizable programs, including at least 89 wells near Hobbs, New Mexico, and 10 wells in Loving County, Texas. The continued development highlights the level of oil and gas activity in the Permian Basin.

H&P averaged 142 contracted rigs in North America during the quarter, exceeding the midpoint of its activity expectations. The company reported $1.03 billion in quarterly operating revenue and net income of $75.7 million. Third-quarter capital expenditures totaled $70 million, while H&P maintained its full-year fiscal 2026 gross capital spending guidance of $270 million to $310 million.

Source: Industrial Info Resources
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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.
Iran names Mohsen Rezaee as security chief and demands U.S. concessions before fully reopening the Strait of Hormuz.

Iran sets conditions as Hormuz shipping talks advance

Iran said negotiations with Oman over new shipping arrangements in the Strait of Hormuz were approaching completion, while emphasizing that an agreement with Oman would not automatically lead to a full reopening of the waterway. Tehran has linked broader access to several U.S. actions, including sanctions relief, the release of frozen Iranian assets, changes to maritime restrictions and compensation related to the conflict. Iranian proposals also call for a role in managing vessel entry through the strait.

The discussions remain important for global energy markets because the Strait of Hormuz normally carries about one-fifth of worldwide oil and gas shipments. Progress toward restoring more regular tanker traffic could therefore influence global supply availability, shipping costs and benchmark crude prices. For mineral and royalty owners, the situation is another example of how geopolitics and transportation routes can become important factors affecting oil prices.

Previous efforts to restore normal energy flows through Hormuz have shown that shipping activity may take time to return to established levels even after an agreement is announced. Tanker positioning, insurance coverage, refinery schedules and producer operations can all affect the pace of recovery, as outlined in Ranger’s earlier coverage of the Hormuz reopening and oil supply timeline. Investors and energy-market participants are continuing to watch the negotiations for their potential effect on crude supply and pricing.

Source: Bloomberg

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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.
Atlas Energy Solutions plans to expand its Permian Basin autonomous truck fleet from 28 to 100 by mid-2027, partnering with Kodiak AI.

Atlas plans 100 driverless trucks for Permian logistics

Atlas Energy Solutions plans to expand its Kodiak AI-powered autonomous truck fleet in the Permian Basin from 28 vehicles operating as of March 31, 2026, to 100 by mid-2027. The trucks transport proppant, commonly known as frac sand, to oil and gas well sites across West Texas and eastern New Mexico. Atlas and Kodiak also expect the fleet to begin operating on public roads in early 2027, subject to regulatory and operational milestones.

The expansion includes a second truck load-out location along Atlas’ 42-mile Dune Express conveyor system, allowing the company to serve multiple well sites simultaneously and increase daily delivery capacity. By the end of March, the autonomous fleet had reportedly completed approximately 7,000 deliveries, transported more than 450,000 tons of sand and recorded over 23,500 hours of driverless operation. The program reflects the industry’s growing use of advanced Permian well technologies and digital tools across Permian operations to improve logistics, equipment utilization and responsiveness during well completion activities.

Source: Interesting Engineering
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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.
Exxon doubled Q2 profit to $14.53B (+105% year over year), while Chevron nearly quadrupled profit to $12.07B.

Higher crude prices lift Exxon and Chevron earnings

Exxon Mobil and Chevron reported substantial increases in second-quarter 2026 earnings as higher crude oil and refined-product prices supported their upstream and refining operations. Exxon Mobil earned $14.53 billion, an increase of 105% from the same quarter a year earlier, while revenue rose 42% to $116.02 billion. Chevron reported $12.07 billion in profit, up 385%, with quarterly revenue increasing 56% to $70.06 billion.

Energy prices moved higher as petroleum shipments through the Strait of Hormuz were sharply reduced during the U.S.-Iran conflict. Brent crude advanced from approximately $70 per barrel to more than $100 for much of the spring, briefly reaching $126. The average U.S. price for regular gasoline also reached $4.10 per gallon, about $1 higher than a year earlier. U.S. refineries with dependable crude supplies benefited from wider margins, with estimated late-July returns reaching $50 to $60 per barrel compared with a more typical range of $20 to $25.

The results demonstrate how geopolitics, supply availability and refining capacity can influence energy markets and company performance. For mineral and royalty owners, understanding the factors affecting oil prices and their relationship to oil and gas royalties can provide useful context when evaluating revenue and broader market conditions.

Source: Houston Public Media
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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 Permian Basin remains a testing ground for advanced well construction and longer, more technically demanding wells.

Permian well technologies improve drilling efficiency

The Permian Basin continues to serve as a testing ground for advanced well construction methods as operators pursue longer and more technically demanding wells. World Oil reports that SLB field deployments involving drilling fluids, rotary steerable systems, measurement-while-drilling tools, and digital workflows are improving the delivery of extended laterals. In several wells, a high-temperature fluid system maintained stable properties through 10,000-foot lateral sections, supported smooth casing runs, and reduced drilling-fluid costs by as much as 37%. These advances are especially relevant as modern horizontal drilling programs extend four miles or more and require tighter control of pressure, hole cleaning, and wellbore placement.

Performance gains were also recorded in the Midland and Delaware basins. An advanced rotary steerable system improved drilling speed by 48% in a Midland field trial and shortened the program by 2.9 days compared with nearby wells. In the Delaware, deployments reduced curve-drilling time by 43%, improved overall curve-and-lateral drilling speed by 50%, lowered cumulative tortuosity by 18%, and extended average run lengths by 60%. A purpose-built fluid system also helped operators drill four-mile laterals while meeting cost-per-foot and schedule targets below authorized spending levels. The results show how integrated equipment, real-time monitoring, and digital drilling tools can support more repeatable well delivery, stronger cost control, and improved project economics.

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.
DOE announced a $65.5M funding for technology development and research across the upstream and midstream oil and natural gas sectors.

DOE funding supports oil and gas technology research

The U.S. Department of Energy announced a $65.5 million funding opportunity on July 23, 2026, for technology development and research across the upstream and midstream oil and natural gas sectors. The initiative is separate from a recently introduced $150 million program supporting unconventional reservoir recovery, hydraulic fracturing, and produced-water management. The new funding will be available through public-private partnerships focused on operational improvements and domestic energy infrastructure.

Eligible midstream projects may include the development and field testing of compressors, valves, piping, storage tanks, and advanced materials. Other projects will explore continuous monitoring systems, artificial intelligence-supported digital twins, and optimization tools at full-scale field sites. These technologies are intended to improve operational efficiency and safety while helping operators manage costs and strengthen supply-chain reliability.

The program also supports research into converting gas that might otherwise be left undeveloped or flared into higher-value products that are easier to transport. Projects may advance catalysts, separation methods, and decentralized conversion systems from laboratory testing to deployment in producing basins. For readers evaluating non-operated working interests or revenue associated with producing wells, the funding highlights continued investment in technologies that may improve resource utilization and operating performance. Applications are due September 22, 2026.

Source: Oil & Gas Journal
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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.
Magnolia Oil & Gas will acquire Houston-based WildFire Energy for $4.06B, boosting its Texas production footprint.

Magnolia expands South Texas position in $4.06B deal

Magnolia Oil & Gas has agreed to acquire Houston-based WildFire Energy in a transaction valued at approximately $4.06 billion, including debt. The purchase will add about 810,000 net acres in the Giddings area, increasing Magnolia’s position there to more than 1.25 million net acres across the Austin Chalk, Eagle Ford and Woodbine formations. The expanded acreage strengthens the company’s presence in one of the key regions supporting oil production in Texas.

The acquisition also includes more than 500 miles of natural gas gathering pipelines and a sand mine that supplies roughly 80% of Magnolia’s annual sand requirements. Magnolia expects the larger, connected asset base to generate more than $100 million in annual operating efficiencies and cost savings. WildFire’s owners will receive 32.2 million shares of Magnolia Class A stock, while Magnolia will assume $600 million in notes due in 2029.

The agreement reflects continued consolidation within the upstream oil and gas sector as producers seek additional drilling inventory and greater operating scale. Magnolia also increased its quarterly dividend by 9% to $0.18 per share, reported second-quarter production of 106,100 barrels of oil equivalent per day and raised its expected standalone production growth for 2026 from 5% to 6%. The transaction is expected to close late in the third quarter of 2026.

Source: Houston Business Journal
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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.