Tag Archive for: usshale

Phillips 66 will build the Zeus Gas Plant and a third Texas fractionator to handle rising Permian gas output.

Phillips 66 advances Permian gas processing projects

Phillips 66 plans to move forward with two Texas midstream projects designed to handle additional natural gas and natural gas liquids from the Permian Basin. According to EnergyNow, the company’s Zeus Gas Plant will be built with capacity to process 300 million cubic feet per day of gas and will include the new Midland Express Pipeline.

The Midland Express Pipeline is expected to run about 45 miles and move up to 230 million cubic feet per day of raw natural gas from Phillips 66’s Permian Basin gathering systems. The company also plans a third Coastal Bend Fractionator, which will add 100,000 barrels per day of natural gas liquids fractionation capacity. A fractionator separates mixed NGLs into products such as ethane, propane and butane so they can be transported, sold or exported separately.

Both projects are expected to begin operations in 2028 and are part of Phillips 66’s previously announced $2.0 billion to $2.5 billion capital spending range. For readers tracking oil and gas leasing and oil and gas royalty opportunities, the announcement highlights continued infrastructure investment tied to Permian production and downstream market access.

Source: EnergyNow

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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.
Devon Energy and Coterra Energy announced the successful completion of their previously announced all-stock merger.

Devon and Coterra finalize all-stock shale merger

Oil & Gas 360 reported that Devon Energy and Coterra Energy completed their previously announced all-stock merger on May 7, 2026, after shareholders from both companies approved the transaction on May 4. The combined company will operate as Devon Energy, trade on the New York Stock Exchange under the DVN ticker, and maintain headquarters in Houston with a continued presence in Oklahoma City.

The deal creates a larger U.S. shale producer with assets across several major basins, anchored by a strong position in the Delaware Basin. Under the merger terms, each Coterra share was exchanged for 0.70 Devon shares, with Devon shareholders owning about 54% of the combined company and former Coterra shareholders owning about 46%. Coterra’s common stock will no longer trade on the NYSE.

For energy market participants, the merger adds scale in U.S. shale and may affect future capital allocation, production planning, and shareholder return strategies. Devon said it has identified $1 billion in annual pre-tax synergies targeted by year-end 2027, which may be relevant for readers following Devon and Coterra’s earlier merger plans, broader shale consolidation, and oil and gas royalties tied to active production areas.

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.
Devon Energy and Coterra Energy are merging in an all-stock deal valued at $58 billion to create a new U.S. shale oil and gas heavyweight.

Devon and Coterra announce a $58 billion shale merger

Devon Energy and Coterra Energy have agreed to combine in an all-stock transaction that values the deal at roughly $58 billion. Under the terms announced on February 2, 2026, Coterra shareholders would receive 0.70 shares of Devon stock for each Coterra share, leaving Devon shareholders with about 54% of the combined company and Coterra shareholders with about 46%.

The companies say the merger would create a larger U.S. shale operator with a major footprint in the Permian Basin, including sizable adjacent positions in the Delaware Basin, alongside assets in other core U.S. producing regions. Leadership is expected to include Devon CEO Clay Gaspar as chief executive, with Coterra CEO Tom Jorden serving as non-executive chair. The companies also highlighted targeted cost and operating synergies, alongside a plan focused on scale, inventory depth, and shareholder returns—an approach that continues the broader consolidation trend across U.S. upstream producers.

If you want more background on oil & gas consolidation, see our explainer on industry consolidation and our overview of oil production in Texas.

Source: MSN
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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 may have smaller, focused deals, but continues to flourish, says Pearl Energy founder Billy Quinn after record consolidation.

Permian thriving on small deals, says Pearl Energy

Despite billions of dollars’ worth of consolidation in the U.S.’ most prolific shale play, the Permian Basin remains thriving at a key place to deploy private equity capital. Portfolio companies can build into successful enterprises ripe for acquisition—but it’s not a job for just anybody.

Hart Energy queried top private equity firms invested in the Permian about what’s next for the most prolific shale play in the U.S. This interview with William J. “Billy” Quinn, founder and managing director at Pearl Energy Investments, is the first in a three-part series.

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Source: HARTENERGY

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US shale's not dead—just evolving. Despite low oil prices, innovation & resilience could spark a major comeback, says Energy Secretary Wright

Shale is about to make a comeback for the ages: Energy Secretary

Oil prices are sagging like a tired trampoline, and U.S. shale producers are feeling the bounce—just not in a good way. With WTI dancing around $60 and analysts wringing their hands over breakeven levels near $65, you’d be forgiven for assuming the shale patch was in full panic mode.

But U.S. Energy Secretary Chris Wright—former CEO of Liberty Energy and now the government’s top oil whisperer—seems utterly unbothered.

“The U.S. shale industry is going to survive and thrive,” Wright declared this week in Abu Dhabi, where optimism apparently flows as freely as the crude. “In 2015 and 2016 oil prices twice hit $28 [per barrel], and what happened? What did the U.S. shale industry do in that time—innovate, get smarter, drive their costs down, and that’s what’s happening right now.”

Now, we could roll our eyes—after all, shale execs are notorious for saying things like “we’re cash flow positive now, really!” right before announcing layoffs and asset sales. But what if Wright’s not just blowing smoke?

History favors shale’s prospects of survival

The shale industry did survive the 2014–2016 oil price collapse. Admittedly, it was barely. And there were some individual players that couldn’t keep their heads above water. But overall, US shale emerged leaner, meaner, and with a few more gray hairs. Costs dropped. Frac stages multiplied like rabbits. Wells got longer, and so did the breakeven charts in investor decks. Could we see a similar cycle of innovation again, or has innovation reached its peak? The latter scenario would be hard to argue.

But it’s possible. As Wright admitted, “investment decisions are going to be tailored if prices stay this low for a long period of time.” Translation: the rig count will take a hit, and Wall Street won’t be lining up to throw money at growth. But shale’s not dead.

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Source: Oil & Gas 360

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