Tag Archive for: oilandgas

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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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.
Oil and gas extraction employed nearly 114,000 in May 2025 and ranked among the highest-paying U.S. industries.

Oil and gas extraction ranks high in US industry pay

The U.S. Bureau of Labor Statistics reported that the oil and natural gas extraction industry employed nearly 114,000 workers in May 2025 and had an annual mean wage of $122,890. That placed the industry among the highest-paying sectors in the United States. The category includes activities such as crude petroleum production, oil shale and oil sands extraction, and natural gas production.

The largest occupations in the sector were wellhead pumpers, with 12,190 jobs, and oil and gas service unit operators, with 10,010 jobs. Together, those two roles represented 19.5% of industry employment. Other major job categories included general and operations managers, petroleum engineers, accountants and auditors, industrial machinery mechanics, roustabouts, supervisors, geoscientists, and financial managers.

Most of the largest oil and gas extraction occupations had annual mean wages above the U.S. average of $69,770 across all jobs and industries. General and operations managers earned an average of $227,290, while financial managers averaged $226,430 and geoscientists averaged $198,230. For readers tracking oil and gas royalties and energy markets, the data highlights the scale and compensation levels tied to domestic production activity.

Source: U.S. Bureau of Labor Statistics

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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 oil and gas drilling made a big leap in the past week as the latest Baker Hughes Rig Count showed a gain of 10 rigs to reach a total of 573

U.S. rig count rises as Oklahoma drilling activity grows

U.S. oil and gas drilling activity increased in the latest Baker Hughes report, according to Oklahoma Energy Today. The national rig count rose by 10 to 573, including 440 oil rigs, 125 natural gas rigs, and 8 miscellaneous rigs. Oklahoma also added 2 rigs, bringing the state total to 46, matching its level from the same period a year earlier.

The report also noted broader gains across several producing regions. Texas added 7 rigs for a total of 268, while New Mexico held steady at 97. Kansas increased by 3 rigs to 17, according to the Red Top Rig Report, and Wyoming added 1 rig to reach 17. For readers tracking Permian Basin activity and broader oil and gas royalty trends, rig counts remain an important indicator of operator activity and potential future production across key U.S. energy markets.

Source: Oklahoma Energy Today

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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.
Scientists say vast recoverable oil and natural gas reserves remain in a long-producing Texas rock formation.

USGS identifies additional Texas oil and gas resources

Chron reports that the U.S. Geological Survey has released a new assessment of the Buda Limestone, a long-producing formation in Texas. The federal agency estimates that the formation still contains about 12 million barrels of technically recoverable oil and 184 billion cubic feet of natural gas that have not yet been discovered.

The assessed area includes portions of South and East Texas, with activity centered west and southwest of Houston and extending toward the East Texas Basin. According to the report, the Buda Limestone has already produced roughly 204 million barrels of oil and 287 billion cubic feet of natural gas since production began around 1930.

For mineral owners, operators, and investors, the assessment provides updated context on remaining resource potential in a mature Texas formation. Chron noted that the newly identified volumes are smaller than estimates for major areas such as the Permian Basin, but they still add to the broader picture of U.S. oil and gas resource development.

Source: Chron

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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.
Interior proposes federal oil & gas rule changes, cutting costs, easing leasing, and lowering bonding requirements.

Interior moves to update federal oil and gas rules

The U.S. Department of the Interior announced two proposed regulatory actions on June 22, 2026, focused on federal onshore oil and gas leasing and rules for royalty treatment of lost oil and gas. The proposals would revise Bureau of Land Management procedures with the stated goal of making federal leasing more predictable for operators while continuing public-land resource management.

Key changes include replacing a $500,000 statewide bonding requirement with the prior $25,000 standard while the department gathers comments on a longer-term approach. Interior also said its proposed updates to the royalty rule could reduce annual compliance costs by nearly $17 million. For readers comparing federal and private leasing frameworks, Ranger’s guide to leasing federal vs. private land for oil and gas exploration provides additional background.

The leasing proposal would allow noncompetitive leases after competitive auctions, shorten certain public participation timeframes, update filing fees, and provide replacement lease sales when prior offerings are canceled or delayed. The royalty-related proposal would remove certain application requirements, define standards for avoidable and unavoidable losses, and rename the rule “Royalty for Oil and Gas Lost from Onshore Federal and Indian Leases.” A 60-day public comment period will begin after the Federal Register notices are published.

Source: U.S. Department of the Interior

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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.
Shell CEO Wael Sawan says oil and gas prices may stay elevated for 5–10 years due to strong demand and scarce low-cost reserves.

Shell CEO sees longer-term support for oil prices

Shell Chief Executive Wael Sawan said oil and gas prices may remain supported even after tensions around Iran and the Persian Gulf ease, according to The Wall Street Journal. Speaking at the WSJ Leadership Institute CEO Summit, Sawan said longer-term demand growth and the rising difficulty of finding new low-cost reserves could keep upward pressure on energy prices over the next five to ten years.

The comments come as global energy markets continue to track supply conditions, inventory levels, and shipping access in the Middle East. Sawan indicated that while current supply is meeting demand, maintaining that balance may become more challenging as countries place greater emphasis on energy security. He also noted that higher pricing could encourage producers to develop resources that may not have been economical at lower price levels.

For investors and mineral owners, the outlook matters because benchmark energy prices can influence revenue expectations, asset values, and commodity price assumptions. Ranger readers may also want to review how prices can affect wellhead price calculations and royalty-related income.

Source: The Wall Street 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.