US judge dismisses Michigan climate lawsuit against oil companies
The US court dismissed a?antitrust suit in which Michigan accused the four major oil companies of colluding to?prevent competition in renewable energy, including electric cars, on Tuesday. This decision was in line with previous rulings in similar situations. US District Judge Jane Beckering, in Grand Rapids, rejected the lawsuit that Michigan Attorney General Dana Nessel filed in January against BP and Exxon, Shell, Chevron. The judge said that antitrust laws…
US judge dismisses Michigan climate lawsuit against oil companies
A US judge dismissed on Tuesday an antitrust suit in which Michigan accused four major oil firms of colluding to forestall competition in renewable energy, such as 'electric vehicles. This decision was in line with previous rulings in similar lawsuits. US District Judge Jane Beckering, in Grand Rapids, rejected the lawsuit filed by Michigan Attorney-General Dana Nessel in January, a Democrat. The suit was against BP, Chevron Exxon Shell, and the American Petroleum Institute.
Matador buys Paloma permian for $1.2 billion to boost Delaware Basin presence
Matador Resources announced?on Thursday that it will buy the privately-held?Paloma Permian?from EnCap Investments?for about $1.28billion,?adding a high-quality drilling asset in?the oil rich?Delaware Basin. U.S. shale producers prioritize acquisitions of premium drilling inventory, over rapid production growth. This allows them to maintain capital discipline and sustain output for longer. The deal grants Matador access to 16,235 acres of net undeveloped land in Eddy County and Lea County, New Mexico.
Matador Resources JV increases Delaware Basin footprint by $752 Million Cardinal Deal
Matador Resources, an oil and gas company, announced?on Monday that its joint venture San Mateo Midstream had agreed to purchase the operating subsidiaries of Cardinal Midstream Partners for a total of $752 million?in cash. The deal reflects the continued consolidation of the U.S. Energy Sector as producers and midstream operators expand their infrastructure and scale to support increasing shale production and growing liquefied gas export demand. Cardinal's assets consist of a cryogenic gas processing facility in Loving County in Texas…
Devon Energy expects to produce 1.38 million boepd in 2026 after Coterra's acquisition
After the completion of their merger with Coterra Energy, Devon Energy forecasted that its production in 2026 would average 1,38 million barrels per day. The $58 billion merger completed in May created one of the biggest independent oil and?gas?producers? in the U.S., with a presence in a half dozen regions, led by the Delaware part of the Permian basin in Texas and?New Mexico. The company forecasts capital expenditures of $4.9 billion for the full year, of which more than 60% will be allocated to the Permian basin…
French and Benelux stocks: Factors to watch on June 5
Here are some company news and stories that could have an impact on the?markets of the region or specific?stocks. French train manufacturer?Alstom acquired a site for $55 million in Newark, Delaware to build a maintenance facility for Amtrak NextGen Acela Trains. The facility is expected to open in summer 2028, and will create 100 jobs. Eiffage is a French company that specializes in construction and concessions. As part of a consortium, it has won a contract worth EUR110m to replace two engineering structures at Nürnberg, Germany.
Devon buys prime Delaware Basin land for $2.6 billion following Coterra merger
Shale producer Devon Energy announced on Thursday that it had acquired 16,300 acres of 'net undeveloped land' in the Delaware Basin, New Mexico. The acquisition was made through a federal leasing program and cost $2.6 billion. This strengthened Devon Energy’s position in the United States’ top shale basin. The deal comes just weeks after Devon Energy completed its $58 billion merger with Coterra Energy. Producers are consolidating to reduce costs and boost scale. The Delaware Basin is part of the larger Permian Basin that spans?West Texas & New Mexico.
EagleRock Land shares soar to $3 billion in value as they debut on the NYSE
EagleRock Land shares rose 24.3% on their New York Stock Exchange debut, valued at $2.99 billion. Stocks of the Houston-based company opened at $23 each, as opposed to the $18.50 offered price. The company sold 17.3 millions shares to raise $320.1million. The debut is a result of the 'Middle East Conflict, which has caused one of the greatest global energy shocks ever. It has driven up crude prices while increasing interest in U.S. assets. This has led to more oil and gas companies seeking market listings. Three IPOs raised more than $1 billion this week.
US upstream oil & gas deals hit a two-year high during Q1 2026
Enverus, a firm that provides analytics, reported on Wednesday that the amount of deals in the U.S. oil and gas sector upstream jumped to $38 billion during the first quarter this year. This was the highest quarterly figure in two years. Last week, Devon Shale Producers and Coterra, a smaller competitor to Devon, closed their merger after first announcing the plans in February. This deal, valued at $25 billion, took up the majority of Q1's dealmaking. Both companies are active in multiple shale formations.
Warren Buffett is no longer with us. Berkshire has now become Greg Abel’s show.
Berkshire Hathaway's annual shareholders weekend in Omaha, Nebraska will be familiar to many Berkshire Hathaway investors. Shopping discounts The 5K race. Tens of thousands like-minded investors and Berkshire supporters. This is the largest corporate shareholder meeting in America. Warren Buffett is going to be there. For the first time since 1960, it won't be him in the spotlight. This weekend marks the first time since the Oracle of Omaha handed over Berkshire's CEO reigns to Greg Abel. Abel will lead the annual meeting on Saturday.
EagleRock, a land management company, has disclosed a rise in revenue in its US IPO filing
EagleRock Land, a land management company, reported a 'higher revenue per year in paperwork filed on Thursday for an initial public offering in the United States. The company is positioning itself as a 'rare IPO in energy amid renewed investor interest in the sector. Houston-based company reported a loss of $73.1m for the fiscal period ended December 31st, compared to $1.1m a year ago. The company's revenue increased from $17.7 to $72.2. The IPO is coming at a time when?U.S.
Citgo struggles to determine its long-term strategy as the sale process is frozen, according to sources.
Citgo Petroleum, a U.S. refiner, is struggling to make important decisions regarding investments and finances because the sale of the Venezuelan parent company to an Elliott Investment Management affiliate has been frozen for months despite a U.S. court's approval of the deal. The Delaware court approved Elliott's Amber Energy affiliate's $5.9 billion offer for PDV Holding, the parent company of?Citgo?. This was after two years of auctions in the complex proceedings to compensate creditors of defaults and expropriations of Venezuela.
Devon and Coterra merge in $58 billion deal to create U.S. Shale giant
Devon Energy and Coterra Energy decided on Monday to merge as part of a $58 billion all-stock transaction, creating a large-cap company with the top spot in the Permian Basin. The shale industry is consolidating to reduce costs and increase'scale. The largest deal in the sector, since Diamondback's deal of $26 billion for Endeavor Energy Resources 2024, comes at a time when a global glut of oil and the increasing likelihood that more Venezuelan barrels will return to the market are putting pressure on U.S. crude price margins. M&As have slowed in the sector in 2025.
Source: US shale producers Coterra and Devon are in advanced merger talks.
Sources familiar with the matter said that Coterra Energy and Devon Energy, two U.S. producers of shale gas, could announce a merger agreement as soon as next week. The combination of U.S. energy companies would be?among?the largest in recent years. Both companies are active in multiple shale formations. They have both operations in the Delaware portion in Texas, New Mexico and Oklahoma’s?Anadarko Basin. The potential deal is set against the backdrop of Thursday's spike in crude prices, which was attributed to fears that the U.S.
Western Midstream renegotiates Occidental's contracts in the Delaware Basin
Western Midstream Partners, the operator of a pipeline in Delaware Basin, announced on Tuesday that it had renegotiated contracts for its Delaware Basin assets with Occidental Petroleum. The new contract provides a "simpler fixed fee structure" for natural gas gathering. Western Midstream will receive 15.3 million units of common stock worth $610 million as part of the deal. This would reduce Occidental's ownership by about 40% once the units have been redeemed. According to LSEG data, the U.S. shale producers is Western's largest shareholder.
Sources: Devon Energy and Coterra Energy, two US shale producers, are in merger talks.
Three people with knowledge of the matter have confirmed that Devon Energy and Coterra Energy are looking at a possible merger. This could result in one of the biggest independent shale producers in the United States. The combination would be among the biggest between U.S. producers of energy in recent years. This comes at a time when U.S. crude oil prices are under pressure from a global glut in the near term and the prospect that Venezuela will increase its supply to the market over the next few years.
Sources: Devon Energy and Coterra Energy, two US shale producers, are in merger talks.
People familiar with the matter have confirmed that Devon Energy and Coterra Energy were exploring the possibility of merging, which could result in one of the biggest independent shale producers in the United States. The U.S. oil market is still under pressure from the?near term global oil glut, and Venezuela's increased supply in the coming years. Sources said that the two companies were in early stage talks about a merger. They cautioned, however, that a deal was not guaranteed. Devon's shares fell?3% while Coterra's stock rose more than 6% in response to the story.
Sources: Devon Energy and Coterra Energy, two US shale producers, are in merger talks.
People familiar with the matter have confirmed that Devon Energy and Coterra Energy were exploring the possibility of a merger, which would create one the largest independent U.S. Shale producers. Sources said that the two companies are in early stage talks for a merger. They cautioned, however, that a transaction was not guaranteed. Devon's shares?fell 3% while Coterra's stock rose more than 6% in response to the story. Devon's market value is around $24 billion while Coterra's is about $20 billion. Devon and?Coterra didn't immediately respond to comments.
Venezuela's distressed debt of billions: Who will collect?
The fall of Nicolas Maduro brought Venezuela's debt crisis, one of the largest unresolved defaults in the world, to the forefront. Venezuela defaulted on its international bonds in late 2017 due to the economic crisis that lasted for years and the U.S. sanctioning the country, which cut it off from the international capital market. The government and the state oil company Petroleos de Venezuela (known as PDVSA) issued the international bonds. Since then, accumulated interest and legal claims related to past expropriations added to the unpaid principal.
Venezuela's distressed debt of billions: Who will collect?
The fall of Nicolas Maduro brought Venezuela's debt crisis, one of the largest unresolved defaults in the world, to the forefront. Venezuela defaulted on its international bonds in late 2017, after years of economic turmoil and U.S. Sanctions that cut the country off from international capital markets. The government and the state oil company Petroleos de Venezuela (PDVSA) had failed to make payments. Since then, interest accrued and claims arising from past expropriations have been added to the unpaid principal to increase the total external liabilities.