This week’s energy headlines spotlight transformational U.S. shale mergers, rising production trajectories from majors, midstream expansions tied to NGL and LNG growth, and major advancements in low carbon and global LNG development. Here are five stories that stood out:
Top Stories
- Devon and Coterra announce $25.5B all-stock merger
Devon Energy and Coterra Energy agreed to a $25.5 billion all stock merger, creating one of the largest U.S.-focused producers. The combined company is expected to deliver more than 1.6 MMboe/d next year, with a dominant position in the Delaware Basin anchoring long term scale and efficiency.
- SM Energy closes merger with Civitas, doubling footprint
SM Energy finalized its merger with Civitas Resources, more than doubling its operational footprint. Pro forma production climbs to nearly 550,000 boe/d, positioning the combined company to leverage scale across multiple basins.
- Chevron targets 7–10% growth in 2026 after record year
Chevron projects 7–10% production growth in 2026 following record output in 2025. Growth will be driven by more than a full year above 1 MMbbl/d in the Permian as well as rising volumes from Guyana and the Gulf of Mexico.
- Enterprise brings Bahia NGL pipeline online, advances multiple expansions
Enterprise Products Partners placed its Bahia NGL pipeline into service, moving Permian volumes to Mont Belvieu. The company is now advancing an expansion toward 1 MMbbl/d, a New Mexico extension slated for late decade completion, and additional sour gas and Haynesville capacity supported by long term commitments.
- Venture Global selects Worley for CP2 Phase 2 EPC work
U.S. LNG momentum continued as Venture Global selected Worley to execute EPC work for CP2 Phase Two, moving another tranche of export capacity closer to a final investment decision. The selection marks continued commercial progress for one of the Gulf Coast’s largest proposed LNG projects.
Additional Stories
Also this week: Glenfarne secured Texas LNG financing, Liberty raised capital for distributed power, Baker Hughes increased its data center targets, Enlight advanced a major solar storage build, Treasury proposed 45Z rules, Equinor sold Vaca Muerta assets to Vista, Ørsted exited its onshore portfolio and Total Energies resumed work on Mozambique LNG.
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