Ovintiv sells Anadarko assets to Ovintiv for $3 billion
Ovintiv announced?on Tuesday that it had agreed to sell Anadarko?assets?in Oklahoma to an unnamed buyer for $3 Billion, as?the?company sharpens its?focus?on higher-margin?plays?in?the Permian basin and Canada's Montney. In extended trading, shares of the company increased by nearly 2%. The company's plan to sell the Anadarko assets was announced in November. This sale is a result of North American producers concentrating capital into core, higher return?basins and shedding non-core asset to strengthen their balance sheets in the face of commodity price volatility. Ovintiv's Montney expansion has been?aggressive in recent years.
Expand Energy exceeds its fourth-quarter profit expectations and plans to reduce debt by $1 billion in 2026
?U.S. Expand Energy, a natural gas producer, beat Wall Street's estimates for the fourth quarter profit on Tuesday. It aims to improve its balance sheet by reducing debts of at least $1 billion in 2026. The company was able to benefit from the higher prices, as U.S. Natural Gas Futures jumped over 11% sequentially during the fourth quarter. This broke a downward trend that began in the second quarter. Natural gas prices averaged $3.37/Mcf, up from $2.91/Mcf one year earlier. Production averaged 7.4 billion cubic foot per day for the company during the reported 'quarter. This is up from 6.41 bcfe/d the previous?year.
Presidio, a US energy company, plans to use a Goldman Sachs debt facility worth $1 billion to finance deals.
Presidio Investment Holdings and Goldman Sachs are working on a debt?facility of up to $1 billion, which will give the U.S. Oil and Gas Producer a war chest to pursue acquisitions when it becomes a public listed company. Energy producer EQV Ventures Acquisition Corp. will list the company in a few weeks through a merger with blank-check firm EQV Ventures Acquisition Corp. Presidio's model is to improve production by improving operations at existing oil and gas fields, instead of prospecting new drilling sites, in order to offer steady returns to investors.
Expand Energy CEO to leave and move to Houston
Expand Energy, a natural gas producer, announced the departure of its CEO Domenic Del'Osso on Monday. It also stated that it plans to move its corporate headquarters from Oklahoma City to Houston this year. The company announced that Michael Wichterich, its chairman, has been named interim chief with immediate effect. Dell'Osso is to serve as an outside adviser during the transition period. Wichterich is the chairman of the company since 2021. He was previously interim CEO in 2021. Expand, previously known as Chesapeake Energy acquired Southwestern Energy for $7.4 billion in October 2024.
As Pipeline Projects Grow, Williams Predicts Higher 2026 Profit
U.S. pipeline operator Williams Companies on Tuesday forecast 2026 profit above analysts' expectations as new pipeline and offshore projects drive growth and natural gas demand continues to rise.Williams, which also increased its annual dividend by 5% to $2.10 per share for 2026, saw its shares rise 2.8% in morning trade.Rising electricity use from crypto-mining, households, businesses and an AI-driven boom in data centers is set to boost natural gas demand this year, strengthening pipeline operators' expectations of sustained…
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.
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 said that the two companies are in early stage talks about a merger. They cautioned, however, that a deal was not guaranteed.
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. Devon's market value is around $24 billion while Coterra's is about $20 billion.
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. The combination of the two shale producers will be one of the biggest tie-ups between U.S.
White House oil meeting includes independents and has strong ties to Denver
On Friday, the White House will be inviting oil executives to meet with them in order to discuss possible investment in Venezuela. While the list of attendees includes some big names from American oil, such as Exxon Mobil, ConocoPhillips, and Chevron, it also contains smaller independents, private equity-backed companies, and other players. Only the largest U.S. An oil industry source said that oil producers in Venezuela have the experience and scale to operate there. It is noteworthy that smaller companies from Venezuela were included in the meeting, given that most of them operate in the U.S. Continental Resources will also be there, and HKN Inc.
Sources say that RPT-Gunvor is weighing the US energy push, which could strengthen Washington ties.
Sources familiar with the situation said that Gunvor, a commodity trader, has been in active discussions to invest into U.S. oil and gas producing assets. This could help to repair relations with the Trump Administration after the fallout of Gunvor's attempt to purchase the foreign assets of the sanctioned Russian company Lukoil. Gunvor dropped its offer to purchase Lukoil assets after the U.S. Gunvor was interested in increasing its U.S. investment even before the failed Lukoil bidding, but such a move would now help it improve relations with President Donald Trump's administration…
Gunvor considers US energy push, which could strengthen Washington ties
Sources familiar with the situation said that Gunvor, a commodity trader, has been in active discussions to invest into U.S. oil and gas producing assets. This could help to repair relations with the Trump Administration after the fallout of Gunvor's attempt to purchase the foreign assets of the sanctioned Russian company Lukoil. Gunvor dropped its offer to purchase Lukoil assets after the U.S. Gunvor was interested in increasing its U.S. investment even before the failed Lukoil bidding, but such a move would now help it improve relations with President Donald Trump's administration…
Kimmeridge, an activist investor, takes a stake in US energy company Devon
Kimmeridge Energy Management, an activist investment firm, has acquired a stake in Devon Energy of the United States. This was revealed by a stock exchange filing on Friday. Kimmeridge held 5.66 million Devon shares at the end of September according to the filing. According to calculations, this would equate an approximately 0.9% share in Devon. It is also the 14th largest shareholder of Devon according to data provider LSEG. Devon shares dropped 1% during the first 30 minutes of Friday's trading amid a wider market sell-off. The company now has a value of approximately $22 billion.
Devon Energy exceeds third-quarter profit expectations
Devon Energy beat Wall Street's expectations for the third quarter profit on Wednesday as it benefited from increased output. The company was able to benefit from a 26% increase in U.S. Natural Gas prices from the previous year during the period of July-September, due to a surge in demand for data centers and an increase in exports of liquefied gas. Energy sector is benefiting from the increase in demand for LNG and increased power consumption as a result of hotter temperatures. Devon's third quarter production increased to 390,000.0 barrels of crude oil per day from 335,000.0 boepd one year earlier.
Utility AEP increases capital spending plan to meet demand for data center power
American Electric Power increased its five-year investment plan from $54 billion to $72 billion Wednesday to meet the unprecedented demand for power by customers such as data centers and industries. In premarket trading, shares of the company increased by 3.2%. U.S. utilities have increased their capital budgets to meet the growing demand from technology companies who are building data centers for complex AI-related tasks. AEP stated that the plan is supported by 28 gigawatts in new load, backed by agreements with customers, an increase of 4 GW from July, as well as 190 GW more of load requests, at different stages of development.
ONEOK reports higher third-quarter profits as acquisitions payoff
ONEOK, the U.S. oil and gas pipeline operator, reported a higher profit in the third quarter on Tuesday. This was due to the robust volumes in Rocky Mountain Region as well as the effect of a number of acquisitions. ONEOK has diversified its portfolio over the last two years through acquisitions, including a Gulf Coast NGL pipe system from Easton Energy as well as Medallion Midstream, EnLink Midstream, and Medallion Midstream. ONEOK acquired the remaining 49.9% of NGP XI Midstream Holdings' stake in the Delaware Basin Joint Venture in June for $940 million.
Expand Energy, a Natgas producer, posts a quarterly profit as production surges
Expand Energy, the U.S. natural-gas producer, reported a profit on Tuesday for the third quarter, compared to a loss a year ago, due to increased production and higher commodity prices. The average U.S. Natural Gas prices increased by more than 26 percent year-on-year in the third quarter. This was due to strong LNG exports, and a growing demand driven by AI-focused data centres. Expand Energy was created after Chesapeake Energy acquired Southwestern Energy in 2013, creating the largest independent natural gas producer of the U.S.
US upstream oil and natural gas dealmaking falls for the third consecutive quarter amid low prices
Enverus, an analytics firm, said that the persistently low oil price kept buyers away from the sector during the third quarter. According to Enverus's latest report, merger and acquisition activity is down for the third consecutive quarter. This marks a dramatic departure from the blockbuster deals of recent years, such as Exxon Mobil's $60 billion deal with Pioneer Natural Resources, which will close in 2023, and Chevron’s $53 billion purchase by rival Hess this year. Enverus reports that the total value of deals in 2023 was a record-breaking $192 billion. This figure dropped to just $105 billion by 2024. U.S.
US crude stockpiles rise, fuel inventories fall, EIA says
The Energy Information Administration reported on Wednesday that U.S. crude stockpiles increased while gasoline and distillate stocks fell. The EIA reported that crude inventories increased by 3.7 millions barrels, to 420.3million barrels for the week ending October 3. This was a far cry from the 1.9 million barrels analysts had predicted in a recent poll. The EIA reported that crude stocks at Cushing, Oklahoma's delivery hub, fell by 763,000 barges in a week. The U.S. crude futures remained positive despite the higher-than-expected increase in inventories.