Tag Archive for: drilling

EQT Corporation and Range Resources have signed a definitive agreement for EQT to acquire Range in an all-stock merger transaction.

EQT–Range merger targets $325M in annual synergies

Rigzone reported on October 28, 2026, that EQT agreed to purchase Range Resources in a stock-only transaction, creating a business with a projected enterprise value above $50 billion. Each Range share would convert into 0.987 EQT shares. Existing EQT shareholders would hold approximately 73% of the combined company, with Range shareholders holding the remaining 27%.

The companies anticipate net output exceeding 9 billion cubic feet equivalent daily, with nearly 3 million net acres, drilling inventory lasting over 30 years, and more than 3,700 miles of midstream infrastructure. They expect $325 million in annual synergies within two years and see longer-term potential above $600 million. Based on recent futures prices, they project approximately $20 billion in cumulative free cash flow over five years.

Enverus analyst Andrew Dittmar said the deal would broaden EQT’s natural gas liquids exposure and support supply contracts with data centers and liquefied natural gas markets. The companies anticipate completion in the first quarter of 2027, subject to regulatory clearance, approval from both shareholder groups, and other standard requirements.

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.
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.
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.
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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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.
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.
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.
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.