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FTC Frees EnCap, XCL, Verdun to Do Uinta Basin Deals Again

EnCap Investments and its portfolio companies no longer need to seek Federal Trade Commission approval to make oil and gas deals in the Uinta Basin—a condition imposed during the Biden administration.

Espada E&P Startup Nabs Carnelian Backing for Onshore M&A Run

Espada Energy Partners, backed by Carnelian funds, joins a new wave of startup E&Ps hunting for M&A opportunities.

E&P Startups X2, Rockcliff Hunt for Large-Scale M&A Amid Price Volatility

Private capital is flowing back into shale, with new teams Rockcliff III and X2 Resources zeroing in on overlooked assets in Texas and beyond.

SM Energy Hits 1,193 Boe/d Oily 30-Day IP with New Uinta Cube Wells

SM Energy CEO Herb Vogel says price downturns are catalysts for innovation and long-term strength. Still, SM is focusing on high-quality assets in the Permian, South Texas and Utah.

New E&P South Wind to Pursue Large-Scale M&A with PE Backing

After selling Fayetteville gas producer Flywheel Energy last year, the team is launching South Wind Exploration & Production with Kayne Anderson financing.

NOG Closes $62MM Midland Basin Bolt-On Deal

Non-op Northern Oil and Gas (NOG) expanded its Midland Basin footprint with an acreage purchase in Upton County, Texas, from a private operator.

 

XCL Resources Team Launches X2, Targets Multibillion-Dollar M&A

X2 Resources, led by the team behind XCL Resources, is targeting $500 million to multibillion-dollar acquisitions across “premier” oil and gas basins with backing from EnCap and other investors.

SM Energy Marries Wildcatting and Analytics in the Oil Patch

As E&P SM Energy explores in Texas and Utah, Herb Vogel’s approach is far from a Hail Mary.

The Wall: Uinta, Green River Gas Fills West Coast Supply Gaps

Gas demand is rising in the western U.S., and Uinta and Green River producers have ample supply and takeaway capacity.

Early Innings: Uinta’s Oily Stacked Pay Exploration Only Just Starting

Operators are testing horizontal wells in less developed Uinta Basin zones, including the Douglas Creek, Castle Peak, Wasatch and deeper benches.

SM’s First 18 Uinta Wells Outproducing Industry-Wide Midland, South Texas Results

Shallow tests came on with 685 boe/d, 95% oil, while deeper new wells averaged 1,366 boe/d, 92% oil, from two-mile laterals, SM Energy reported.

NOG Spends $67MM on Midland Bolt-On, Ground Game M&A

Non-operated specialist Northern Oil & Gas (NOG) is growing in the Midland Basin with a $40 million bolt-on acquisition.

E&Ps Pivot from the Pricey Permian

SM Energy, Ovintiv and Devon Energy were rumored to be hunting for Permian M&A—but they ultimately inked deals in cheaper basins. Experts say it’s a trend to watch as producers shrug off high Permian prices for runway in the Williston, Eagle Ford, the Uinta and the Montney.

More Uinta, Green River Gas Needed as Western US Demand Grows

Natural gas demand in the western U.S. market is rising, risking supply shortages later this decade. Experts say gas from the Uinta and Green River basins will make up some of the shortfall.

Shale Outlook Uinta: Horizontal Boom to Continue in 2025

After two large-scale transactions by SM Energy and Ovintiv, the Uinta Basin is ready for development—and stacked pay exploration.