The Latest

E&P Highlights: July 7, 2025

Here’s a roundup of the latest E&P headlines, including a natural gas discovery offshore by Exxon Mobil.

Texas Companies Announce Merger with US Small-Scale LNG Focus

United Energy Corp. and Power LNG agreed to a merger aimed at developing small-scale liquefaction sites designed for regional demand. The merged company will be named United Energy LNG.

BP Appoints Former Shell Exec Simon Henry to Board

BP named Simon Henry, who was previously the CFO at Shell, as a non-executive director, days after reports of a potential merger with Shell.

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.

Oilfield Service Firms Keep Merging to Survive

Faced with shrinking customer bases, rising costs and a slowing market, publicly traded oilfield services firms like SLB, DNOW and DXP are leaning into M&A to gain scale, efficiency and tech advantage.

Ithaca Boosts North Sea Stake with $136MM Japex Deal

U.K.-based E&P Ithaca Energy closed an acquisition of North Sea interests from Japan Petroleum Exploration Co. (Japex).

Kinetik, Energy Transfer Locked in $100MM NGL Legal Dispute

Midstream companies Kinetik and Energy Transfer have been battling for three years over NGL production in the Delaware Basin.

Venture Global Signs 20-Year LNG Deal with Petronas for CP2

Malaysia’s Petronas agreed to purchase 1 mtpa of LNG from Calcasieu Pass 2, expanding its partnership with Venture Global.

Riley Permian Closes Silverback Exploration II Deal

Riley Exploration Permian Inc. said on July 2 it closed on its $142 million deal to buy EnCap Investments-backed Silverback Exploration II LLC.

Knot Offshore Announces Tanker Dropdown, Leaseback Agreements

Knot Offshore Partners purchased shuttle tanker Daqing Knutsen from its subsidiary for $95 million, less $70.5 million of outstanding debt and $300,000 of capitalized fees.