North Dakota oilfield activities expected to increase in the second half of the year, regulator states
The 'Department of Mineral Resources' in North Dakota said that oilfield activity will increase in the second half of the year, as operators speed up completions and add more rigs to take advantage of high oil prices. The Iran conflict and disruptions in Middle Eastern oil supply have kept prices high, which has encouraged producers to increase activity. According to data from the Department, the number of North Dakota oil rigs increased to 33 in August from just 26 in July. These operators do not move rigs into North Dakota in order to drill DUC wells, and then complete them later.
Devon Energy, a US shale oil producer, tops profit expectations for the second quarter
The company reported a?higher?quarterly profit on Tuesday, exceeding 'Wall Street' expectations. This was due to a?surge?in crude oil prices, and increased production after its merger with Coterra Energy. The U.S. and Israeli war against Iran, which is now in its sixth months, has disrupted?Middle East oil supplies, as well as shipping through the Strait of Hormuz. Brent crude prices, the benchmark, were 19.2% higher in the third quarter at $89.62 a barrel, compared to a year ago. This quarter marks the first time Devon has reported results since its $58 billion purchase of Coterra Energy.
Bloomberg News reports that Devon Energy is considering a $4 billion sale for its Eagle Ford and Powder River assets.
Bloomberg News, citing sources familiar with the situation, reported that U.S. oil producer Devon Energy is considering a possible sale of its Eagle Ford and Powder River shale assets, which could fetch more than four billion dollars. Investors continue to pressure Devon Energy to focus on its core Permian operations and streamline its portfolio following the recent merger with Coterra Energy. Some shareholders are urging for faster asset sales. The report said Devon would?outline a'strategic assessment of the assets in its earnings report early August. However, it could still choose to keep the properties.
US stock futures fall as Trump declares the Iran deal 'over'. Oil climbs
U.S. Stock Index?futures fell sharply on Wednesday.?Nasdaq Futures reached a four-week high after President Donald Trump declared that a memorandum aimed at ending a war with Iran is "over". This sent oil prices soaring. The U.S. President, speaking in Ankara, ahead of the NATO summit, said he was not interested in further engagement with Iran. This has heightened investor concern over the'renewed escalation' in the Middle East, and is the latest blow against the fragile ceasefire between Washington and Tehran. Iran's Revolutionary Guards claimed they targeted U.S. Military sites in Bahrain and Kuwait after the U.S.
US Energy Shares Fall, Crude Prices Drop as US and Iran Make Deal
U.S. energy shares fell on Monday as crude prices dropped after Washington and Tehran agreed terms to end their months-long conflict and reopen the Strait of Hormuz, a vital oil transit chokepoint.The U.S. and Iran will sign a memorandum of understanding in Switzerland on Friday, said the prime minister of Pakistan, which helped mediate talks between the two sides.U.S. President Donald Trump said on Sunday the Strait of Hormuz, which carries roughly a fifth of global oil consumption, would be open "toll free" and that a U.S.
Energy shares drop as Iran deal reduces Hormuz disruption risks
U.S. Energy shares fell on Monday in premarket trading as crude prices dropped after Washington and Tehran reached a preliminary deal that could end the months-long conflict and open?the Strait of Hormuz. The?U.S. The?U.S. U.S. president Donald Trump announced on Sunday that the Strait of Hormuz would be "toll-free" and a U.S. navy blockade of Iranian ports would cease. Investors should monitor how quickly Gulf producers can resume oil production and exports after the war, as well as whether or not more ships enter the region, said Ashley Kelty of Panmure Liberum.
Energy shares drop as Iran deal reduces Hormuz disruption risks
U.S. Energy shares fell on Monday in premarket trading as crude prices dropped after Washington and Tehran reached an initial agreement that could end months-long conflict, and reopen the Strait of Hormuz. Pakistan's Prime Minister said that the U.S. will sign a Memorandum of Understanding with?Iran? in Switzerland this Friday after his country mediated talks between both sides. U.S. president Donald Trump announced on Sunday that the Strait of Hormuz would be "toll-free" and that an American naval blockade of Iranian port?would come to an end.
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, where it is focusing its activities around its core assets.
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. It remains the most prolific U.S. Oilfield.
EagleRock, a land management company, raises $320 million through its US IPO
EagleRock, an American land and resource management firm that collects royalties and fees for oil and gas production in the Permian basin on the lands it controls, raised $320.1 million on Wednesday through its initial public offering. The Houston-based firm sold 17.3 millions shares at $18.50 each, hitting the mid-point in its range of $17-$20 per share. The U.S. IPO Market has experienced a modest rebound but a long-term conflict in the Middle East continues to be a factor that affects its stability. The IPO comes at a time of Middle East tensions that have pushed crude oil prices over $100 a barrel.
Fervo Energy is valued at $10.21 Billion in Nasdaq debut
Fervo Energy's shares rose 33.3% on Wednesday in its Nasdaq debut, giving the geothermal energy developer a value of $10.21 Billion. The Houston-based company's shares opened at 36 dollars, above the $27 offer price. The company sold 70?million?shares at $27 each, which was above the marketed price range, to raise $1.89 billion. The listing comes at a time when artificial intelligence, rapid expansion of data centres and surges in power demand are straining the U.S. grid. Electricity consumption is increasing due to the demand for electric vehicles, as well as domestic manufacturing.
Devon Energy misses profit forecasts for the first quarter due to production decline
As a result of lower production, Devon Energy's first-quarter profits fell short of Wall Street expectations on Tuesday. Results of a shale oil producer. The first-quarter production dropped to 387,000 barrels equivalent per day (boepd) from 388,000 boepd one year ago. U.S. Permian Shale prices in West Texas remain in the 'negative territory' for a record-breaking 61 consecutive days, as pipeline restrictions trap gas in this region. This is America's largest oil producing shale basin. Oil prices have increased by more than 88% in the past year due to supply chain disruptions and conflict in the Middle East.
EagleRock, a Permian landowner, is aiming for a valuation of $2.6 billion in the US IPO
EagleRock, a land management company in the United States that aims to tap into renewed investor interest in the energy sector, is aiming for a valuation of up to $2.6 Billion in its initial public offering. The Houston-based firm said that it aimed to raise $346 million through the IPO, by selling 17.3 million shares at a price between $17 to $20 each. After a brief lull in the first half of the year, signs of easing geopolitical conflict in the 'Middle East' encouraged companies to file for IPOs. According to Renaissance Capital which offers IPO focused research and ETFs…
Investor Kimmeridge urges Devon after Coterra merger to pursue asset sales
Kimmeridge urged Devon Energy's new incoming board on Tuesday to quickly pursue asset sales, improve the capital allocation and revamp executive pay to boost shareholder returns after its merger with Coterra Energy is completed. According to LSEG, Kimmeridge Investments, a well known activist investor in energy, owns about 1.4% of Devon. Kimmeridge warned that the combined company could suffer a "conglomerate discounts" if it does not streamline its business, and focus on high-margin asset. This is despite the fact that this deal will create scale and potential for free cash flow.
Bank of America exceeded profit expectations as trading and investment banking shine
Bank of America exceeded expectations for the first-quarter profit as increased market volatility drove revenue from equity trading to a record, and a rebound of mergers and acquired fees boosted investment banking. The company's shares rose by 1% before the bell on Wednesday. The global equity markets began 2026 on an optimistic trajectory, boosted by the year-end momentum of interest rate reductions worldwide in 2025, and 'robust' corporate earnings. But this optimism quickly evaporated. The markets were rattled by a hawkish shift in policy from the Federal Reserve.
Devon's profits beat expectations for the quarter, but forecasts lower production after winter storm
Devon Energy, a U.S. shale producer, narrowly beat Wall Street expectations for the fourth-quarter profits and forecast lower production in the first-quarter after severe winter storms disrupted operations throughout?key producing regions. Analysts and traders estimate that the winter storm knocked down as much as two million barrels of oil per day in the U.S., or 15% of the national output. Volumes began to recover before the winter storm, which highlights the magnitude of the disruption faced by producers like Devon. The global crude oil price has been?pressured?
Kuwait Oil Co. in talks with US operators about developing shale gas and oil resources
KUWAIT, February 5, 2019 ( ) – Kuwait Oil Company has been in contact with some?U.S. The CEO of Kuwait Oil Company said that the company is in talks with firms such as Devon Energy and EOG about potential collaboration to develop its shale gas and oil resources. Ahmad Al-Eidan, speaking at the Kuwait Oil & Gas Show, said that KOC "engages with some U.S. Operators to explore how their expertise could support the development Kuwait's shale-oil and shale-gas resources". It would be the very first time Kuwait had sought to develop its "shale" oil and gas resources.
Kuwait Oil Co in Talks with US to Develop Shale Resources
Kuwait Oil Company is in talks with some U.S. firms including Devon Energy and EOG on potential cooperation to develop its shale oil and gas resources, its CEO said on Thursday.KOC is "engaging with some U.S. operators to explore how their expertise can support the development of Kuwait’s shale oil and shale gas resources", Ahmad Al-Eidan said on the sidelines of the Kuwait Oil & Gas Show.This would be the first time Kuwait has sought to develop its shale oil and shale gas resources, facilitated by significant…
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. However, producers continue to pursue size advantages.
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. might take military action against Iran.