This week’s energy headlines were shaped by a landmark Haynesville acquisition, early stage shale consolidation talks, expanding refined products connectivity to the West Coast, a major commercial reset in the Permian and new momentum for Gulf Coast LNG. Here are the stories that stood out.
Top Stories
- Mitsubishi expands into U.S. upstream with $7.5B Aethon buy
Mitsubishi is acquiring Aethon’s upstream and midstream assets for roughly $7.53 billion including debt, giving the Japanese company a major foothold in U.S. natural gas. The package delivers about 2.1 Bcf/d of current output and a runway for volume growth later in the decade. It marks another strong push of international capital into North American gas.
- Devon and Coterra reportedly discussing possible merger
Devon and Coterra are reportedly in initial talks regarding a potential tie-up that could create one of the sector’s largest shale focused producers. The combination would merge complementary positions across the Delaware, Anadarko and Marcellus, blending liquids and gas exposure. While no deal is certain, it reflects ongoing strategic moves to build scale.
- Kinder and Phillips launch 2nd Western Gateway open season
Kinder Morgan and Phillips 66 launched a second open season for the Western Gateway refined products corridor, adding Los Angeles access and more origin points. The system connects Texas supply to Arizona, California and Las Vegas through a mix of newbuild pipe and targeted line reversals. The expansion is aimed at improving supply optionality and regional flexibility
- Western amends Oxy contract, inks new agreement with Conoco
Western Midstream amended its largest remaining cost-of-service agreement with Occidental and signed a new fixed fee gathering and processing deal with ConocoPhillips. The changes complete its transition to a fully fixed fee structure supported by minimum volume commitments. The move stabilizes throughput and reduces related-party concentration.
- Chevron takes positive FID to expand Leviathan to 2 Bcf/d
Chevron and its partners approved a major expansion of the Leviathan field offshore Israel, clearing the way for new wells, subsea infrastructure and platform upgrades. The project is designed to lift output to roughly 2 Bcf/d, with first gas expected in the second half of 2029. It represents a long‑dated gas growth story with meaningful implications for regional supply.
Additional Stories
Also this week: Halliburton signals a tightening services market, Texas LNG progresses toward financing, Equinor extends its Norway exploration streak, Dominion Energy advances offshore wind work and BP–Equinor move closer to resuming U.S. construction.
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