The U.S. oil and natural gas rig count experienced a slight decline, falling by four to a total of 633 rigs for the week ending August 21. Despite this modest drop, industry analysts have noted a surprising resilience in both oil supply and natural gas prices as the year progresses, suggesting that the market may be more robust than previously anticipated.

Eagle Ford Shale is a hotspot for international investment. While U.S. companies continue to focus heavily on the Permian Basin, the Eagle Ford Shale in South Texas has become a magnet for international energy firms.

The purchase of Marathon Oil adds 2,600 new drilling spots to ConocoPhillips' operations, boosting their total to over 13,000 across the U.S. After the deal, ConocoPhillips is set to significantly increase its production in the Eagle Ford region, potentially exceeding its current output in the Delaware basin.

Kinder Morgan stands as North America's top independent mover of petroleum products with around 2.4 million barrels daily across the continent. The bulk of this flow happens through its Products Pipelines division, which navigates gasoline, jet fuel, diesel, crude oil, and condensate through a network of about 9,500 miles of pipelines. Alongside, the company maintains roughly 65 liquid terminals that not only store these fuels but also blend in ethanol and biofuels for a green touch.

In January 2024, the United States saw a mix of ups and downs in the number of active drilling rigs across its major oil shale regions and states. Starting with the shale regions, the Permian Basin led with a slight increase, reaching 310 rigs, which is 3 more than in December. The Eagle Ford in East Texas held steady with 54 rigs, unchanged from the previous month. Meanwhile, both the Haynesville and Anadarko regions saw a decrease by 2 rigs each, landing at 42 rigs. The Niobrara faced a larger drop, losing 4 rigs to settle at 27. On a brighter note, the Williston Basin and the Appalachian region saw increases of 2 and 1 rigs, respectively, resulting in counts of 34 and 41 rigs.

The $26 billion purchase of Endeavor Energy Resources by Diamondback Energy, with its stock up 2.6%, is the newest big deal combining oil and gas production in the Permian Basin under a few big companies

Baytex Energy Corp., a prominent oil and gas company, has struck a deal to sell part of its Viking assets located in Forgan and Plato, southwest Saskatchewan. The transaction sealed at CAD 153.8 million (approximately US$113.23 million).

Kinder Morgan's strategic acquisition of STX Midstream from NextEra is a significant move to enhance its infrastructure capabilities in South Texas. The area is witnessing an upsurge in natural gas production and demand, particularly towards Mexico and the Gulf Coast markets. The 462-mile pipeline system, which is highly contracted with an average contract length of over eight years, is expected to generate about $181 million in EBITDA for 2023.

Permian Resources to buy Earthstone Energy for $4.5B, focusing on Delaware Basin. Earthstone's Midland Basin assets may be up for sale. “This is a Delaware Basin company. That’s how we think about the focus going forward,” Permian Resources co-CEO James Walter said.

According to Globaldata, 196,130km of planned and announced trunk oil and gas pipelines are anticipated to become operational globally between 2023 and 2030. This consists of 113,099km of planned pipelines that have identified development plans, and 83,031km of early-stage announced pipelines currently under conceptual study, expected to receive development approval. Based on Global Energy Monitor's 2023 data, Africa and the Middle East account for 49% of the global oil transmission pipeline construction, valued at US$25.3 billion. The report indicates these regions are currently constructing 4,400 km of pipelines with an investment of US$14.4 billion. There are plans for an additional 10,800 km at an approximate cost of US$59.8 billion.

Earthstone Energy is selling Eagle Ford locations to concentrate on the Permian Basin, streamlining its exploration and production focus. Earthstone Energy Inc., based in The Woodlands, Texas, is putting an Eagle Ford asset on the market as the company focuses on divesting non-core properties and directing investment towards the Permian Basin. The assets that Earthstone is planning to sell include production and land in northeast Karnes County, Texas, as well as in southern Gonzales County, Texas, as outlined in the marketing documents. For the sales process, Earthstone has engaged Opportune Partners LLC to serve as its exclusive financial adviser.

Big announcement! Crescent Energy is set to bolster its inventory in the play by acquiring operated and working interests from Mesquite Energy. Crescent Energy Co. seals a $600 million cash deal to acquire assets in the Eagle Ford Shale from Mesquite Energy Inc. (formerly Sanchez Energy).

Callon is set to purchase Percussion Petroleum's Delaware assets for $475 million while selling its Eagle Ford assets to Ridgemar for $655 million. In a strategic step to optimize its operations, Callon Petroleum recently made headlines by sealing two deals on May 3, totaling a staggering $1.13 billion. The company is taking confident steps to bolster its presence in the Delaware Basin while bidding farewell to its stake in the Eagle Ford Shale.

Matador Resources Co. is making a big move in the oil and gas industry by acquiring Advance Energy Partners Holdings LLC, a major player in the northern Delaware Basin. The acquisition, which comes with a hefty price tag of at least $1.6 billion in cash, includes valuable assets in Lea County, N.M., and Ward County, Texas, as well as key midstream infrastructure.

Baytex Energy Group has announced that it will acquire Eagle Ford exploration and production company, Ranger Oil, for approximately $2.5 billion in cash and stock, which includes taking over the company's existing debt. Upon the successful closure of the acquisition, Baytex will have a controlling stake of approximately 63% in the newly merged company, leaving Ranger shareholders with around 37%. This significant move is in line with a trend of substantial mergers and acquisitions in the Eagle Ford area, with Marathon Oil, Devon Energy, and Chesapeake Energy among the companies involved in recent transactions.

Harvest Midstream, a Hilcorp affiliate, is set to acquire three midstream gathering systems that serve the Bakken, as well as system located in the Eagle Ford. Harvest, an affiliate of Hilcorp Energy Corp, has entered into an agreement to purchase three Bakken midstream gathering systems and one in the Eagle Ford from Paradigm. Paradigm is set to sell these midstream assets to Harvest in the near future.

Baytex Energy, a Canadian oil and gas company, has announced its acquisition of Ranger Oil, an Eagle Ford operator based in Texas, in a deal worth $150 million. The acquisition will accelerate Baytex's shareholder returns and introduce a dividend with enhanced free cash flow.

Chesapeake Energy Corp. has announced that it will receive $1.4 billion from INEOS Energy for the sale of its remaining Eagle Ford asset, just a month after selling its Brazos Valley assets for a similar amount. This brings the total value of Chesapeake's Eagle Ford assets to over $2.82 billion. The Oklahoma City-based company will continue to market its other Eagle Ford assets.

In order to sell its part of the sprawling Eagle Ford Shale acreage, Chesapeake Energy Corp. on January 18 concluded an agreement to trade its Brazos Valley region assets to WildFire Energy I LLC for $1.425 billion.

Marathon Oil Corp. closes the acquisition of Ensign Natural Resources’ Eagle Ford assets for $3 billion cash, according to the company’s release on December 27. The purchase includes 130,000 net acres (99% operated, 97% working interest) in acreage adjacent to Marathon Oil’s existing Eagle Ford position. Ensign’s estimated fourth-quarter production will average 67,000 net boe/d, including 22,000 net bbl/d of oil.

A $3.0 billion cash definitive agreement to purchase the Eagle Ford assets of Ensign Natural Resources has been concluded by Marathon Oil Corporation on November 2.

Devon Energy Corp. believes that the Anadarko Basin is a hidden treasure and aims to use its position in it to fuel a robust cash return model and establish itself as an industry leader in promoting ESG. This E&P company plans to drill 45 new wells in the Midcontinent by 2022, as well as to produce 600,000 boe/d across five operating basins, including the Eagle Ford Shale, Permian, Powder River, and Williston basins. And given that Devon's recent fourth-quarter results were better than Street estimates. It appears that they are doing something right, at least for the moment.

Still waters run deep: after patiently waiting for 2 years, Lime Rock Resources starts the year with a pair of acquisitions worth $358.5 million The two acquisitions include Abraxas Petroleum’s Williston Basin position in North Dakota: about 3,500 acres of land and 19,400 boed of net production, as well as properties situated in Burleson, Milam, and Robertson in Texas from a third party, that contain 46,000 contiguous net acres and produce 7,700 boed as of the closing of the deal. The company intends to intensify its focus on low-risk opportunities and margins, which will significantly boost Lime’s market position going further.

Ironwood Midstream expanded its operations in the Eagle Ford region through its merger with Nuevo Midstream. Thanks to this, Ironwood II has increased its crude oil and natural gas throughput capacities in the famous shale to approximately 400,000 bbl/d and 410 MMcf/d, respectively. With 390 miles of pipelines, the company manages 245,000 acres of dedicated land.

Nuevo Midstream will add 100 miles of gathering pipeline in Gonzales, Lavaca, and Dewitt counties to its Eagle Ford assets.