El Nino and record supply are affecting US natgas price this winter
Analysts said that US natural gas will be cheaper than last winter due to a strong El Nino climate pattern, which is expected to curb demand, and the?ample supply of gas, which keeps supplies balanced. Gas prices that are lower during the peak heating season of December to February could help consumers save money on heating and keep electricity prices in check. This would be a relief for them as inflationary pressures continue. Gas-fired power plants account for about 40% of US electricity generation. The average price of gas…
Energy secretary: US energy company to announce Venezuelan investment
U.S. energy secretary Chris Wright said that a U.S. oil producer would?announce a'major investment 'into Venezuela on Wednesday. Foreign oil producers are moving joint ventures and sharing production contracts to Venezuela as part a sweeping energy reform. Meanwhile, new entrants – mostly U.S. based firms – are committing to development in the OPEC nation encouraged by a $100 billion reconstruction plan supported by Washington. Bloomberg News reported that Oklahoma City's Continental Resources, founded by billionaire Harold Hamm and based in Oklahoma City, will?announce? a deal to invest in South America at the G20 energy summit being held in Houston.
The weekend reads: Fed rethinking, EV race and yen rescue
Want to be inspired? Every Friday, Weekend Reads highlights what the Open Interest team has been watching, listening to, and reading. This week, we've selected articles on the Federal Reserve's monetary policy, electric cars, industrial policing, forex interventions, energy security, and investing. This weekend, we read... MIKE DOLAN. ROI Finance & Markets columnist. This short piece by James Galbraith, on Project Syndicate, critiques Fed chair Kevin Warsh’s suggestion that the central bank should bring back money supply targeting.
Trump will host mining CEOs to discuss the administration's desire for minerals in defense supply chains
?U.S. Donald Trump, the president of the United States, will meet with executives of?some?of the largest mining companies in the world at the State Department this Friday. His administration is intensifying efforts to secure supplies of vital minerals for the domestic market and allies. This is a cornerstone of his national security and industrial policies. The White House is in need of critical minerals to replenish weapon stockpiles that were depleted by the Iran conflict, and reduce U.S. dependency on Chinese supply chains. U.S.
Electricity prices rise in the US Midwest amid heatwave
The wholesale electricity price in the U.S. Midwest spiked to more than $500 a megawatt-hour on Tuesday as wind production?came below 'forecasts' and hot weather taxed fossil fuel plants. Prices spiked most along the Nebraska/Iowa border, near MidAmerican Energy coal plants. MidAmerican Energy is a utility owned and operated by Berkshire Hathaway. The high prices -- about five times more than further south -- were due to heavy congestion on power lines. Southwest Power Pool, a 'grid operator' for an area that includes 20 million people…
US oil prices fall briefly below $70 as stocks at storage hubs dwindle
The resurgence of tanker traffic through the Strait of Hormuz has pushed U.S. The price of crude oil briefly fell below $70 a barrel on Wednesday, despite the fact that inventories at Cushing's crude storage facility in?Oklahoma had dropped to their lowest level in 12?years. The U.S. Energy Information Administration announced on Wednesday that oil stocks at Cushing had fallen to 19?million barrels, their lowest level since 2014. West Texas Intermediate (WTI), the benchmark for domestic crude oil, was still trading as low as $69.63 per barrel before settling to $70.34. Cushing is one of the largest storage hubs around the world.
Commodities trader Gunvor invests in a venture to purchase US natural gas production
Commodities trader Gunvor announced on Wednesday that it had provided financial support?to an executive team from the energy industry for their efforts to accumulate natural gas-producing assets in?top U.S. Shale basins. Gunvor confirmed through a spokesperson that it has backed Western Natural Resources. This is a private oil-and-gas producer based in Oklahoma City, which previously worked with asset manager KKR to develop energy production projects. Gunvor is increasing its exposure to U.S. Natural Gas production by backing Western. The company believes that this will have a long-term positive impact on the portfolio of the commodity trader.
US upstream oil & gas deals hit a two-year high during Q1 2026
Enverus, a firm that provides analytics, reported on Wednesday that the amount of deals in the U.S. oil and gas sector upstream jumped to $38 billion during the first quarter this year. This was the highest quarterly figure in two years. Last week, Devon Shale Producers and Coterra, a smaller competitor to Devon, closed their merger after first announcing the plans in February. This deal, valued at $25 billion, took up the majority of Q1's dealmaking. Both companies are active in multiple shale formations. They can be found in the Delaware portion in Texas' Permian Basin, as well as in New Mexico's Anadarko Basin and Oklahoma’s Anadarko Basin.
Devon Energy misses profit forecasts for the first quarter due to production decline
As a result of lower production, Devon Energy's first-quarter profits fell short of Wall Street expectations on Tuesday. Results of a shale oil producer. The first-quarter production dropped to 387,000 barrels equivalent per day (boepd) from 388,000 boepd one year ago. U.S. Permian Shale prices in West Texas remain in the 'negative territory' for a record-breaking 61 consecutive days, as pipeline restrictions trap gas in this region. This is America's largest oil producing shale basin. Oil prices have increased by more than 88% in the past year due to supply chain disruptions and conflict in the Middle East.
Sources say that US shale producer Gulfport Energy will name Dell'Osso CEO
People familiar with the matter on Tuesday said that Gulfport 'Energy' is set to appoint Domenic 'Dell'Osso the next chief executive 'of the U.S. natural 'gas focused 'producer. Dell'Osso's appointment as CEO of Expand Energy, a larger rival, which he served in February, may be announced as soon as tomorrow, according to the sources. Gulfport is set to release its first-quarter results after the close of the market. Sources spoke under condition of anonymity to discuss "confidential" information. Gulfport has not responded to a request for comment.
Ovintiv sells Anadarko assets to Ovintiv for $3 billion
Ovintiv announced?on Tuesday that it had agreed to sell Anadarko?assets?in Oklahoma to an unnamed buyer for $3 Billion, as?the?company sharpens its?focus?on higher-margin?plays?in?the Permian basin and Canada's Montney. In extended trading, shares of the company increased by nearly 2%. The company's plan to sell the Anadarko assets was announced in November. This sale is a result of North American producers concentrating capital into core, higher return?basins and shedding non-core asset to strengthen their balance sheets in the face of commodity price volatility. Ovintiv's Montney expansion has been?aggressive in recent years.
Expand Energy exceeds its fourth-quarter profit expectations and plans to reduce debt by $1 billion in 2026
?U.S. Expand Energy, a natural gas producer, beat Wall Street's estimates for the fourth quarter profit on Tuesday. It aims to improve its balance sheet by reducing debts of at least $1 billion in 2026. The company was able to benefit from the higher prices, as U.S. Natural Gas Futures jumped over 11% sequentially during the fourth quarter. This broke a downward trend that began in the second quarter. Natural gas prices averaged $3.37/Mcf, up from $2.91/Mcf one year earlier. Production averaged 7.4 billion cubic foot per day for the company during the reported 'quarter. This is up from 6.41 bcfe/d the previous?year.
Presidio, a US energy company, plans to use a Goldman Sachs debt facility worth $1 billion to finance deals.
Presidio Investment Holdings and Goldman Sachs are working on a debt?facility of up to $1 billion, which will give the U.S. Oil and Gas Producer a war chest to pursue acquisitions when it becomes a public listed company. Energy producer EQV Ventures Acquisition Corp. will list the company in a few weeks through a merger with blank-check firm EQV Ventures Acquisition Corp. Presidio's model is to improve production by improving operations at existing oil and gas fields, instead of prospecting new drilling sites, in order to offer steady returns to investors.
Expand Energy CEO to leave and move to Houston
Expand Energy, a natural gas producer, announced the departure of its CEO Domenic Del'Osso on Monday. It also stated that it plans to move its corporate headquarters from Oklahoma City to Houston this year. The company announced that Michael Wichterich, its chairman, has been named interim chief with immediate effect. Dell'Osso is to serve as an outside adviser during the transition period. Wichterich is the chairman of the company since 2021. He was previously interim CEO in 2021. Expand, previously known as Chesapeake Energy acquired Southwestern Energy for $7.4 billion in October 2024.
As Pipeline Projects Grow, Williams Predicts Higher 2026 Profit
U.S. pipeline operator Williams Companies on Tuesday forecast 2026 profit above analysts' expectations as new pipeline and offshore projects drive growth and natural gas demand continues to rise.Williams, which also increased its annual dividend by 5% to $2.10 per share for 2026, saw its shares rise 2.8% in morning trade.Rising electricity use from crypto-mining, households, businesses and an AI-driven boom in data centers is set to boost natural gas demand this year, strengthening pipeline operators' expectations of sustained…
Devon and Coterra merge in $58 billion deal to create U.S. Shale giant
Devon Energy and Coterra Energy decided on Monday to merge as part of a $58 billion all-stock transaction, creating a large-cap company with the top spot in the Permian Basin. The shale industry is consolidating to reduce costs and increase'scale. The largest deal in the sector, since Diamondback's deal of $26 billion for Endeavor Energy Resources 2024, comes at a time when a global glut of oil and the increasing likelihood that more Venezuelan barrels will return to the market are putting pressure on U.S. crude price margins. M&As have slowed in the sector in 2025. However, producers continue to pursue size advantages.
Source: US shale producers Coterra and Devon are in advanced merger talks.
Sources familiar with the matter said that Coterra Energy and Devon Energy, two U.S. producers of shale gas, could announce a merger agreement as soon as next week. The combination of U.S. energy companies would be?among?the largest in recent years. Both companies are active in multiple shale formations. They have both operations in the Delaware portion in Texas, New Mexico and Oklahoma’s?Anadarko Basin. The potential deal is set against the backdrop of Thursday's spike in crude prices, which was attributed to fears that the U.S. might take military action against Iran.
Sources: Devon Energy and Coterra Energy, two US shale producers, are in merger talks.
Three people with knowledge of the matter have confirmed that Devon Energy and Coterra Energy are looking at a possible merger. This could result in one of the biggest independent shale producers in the United States. The combination would be among the biggest between U.S. producers of energy in recent years. This comes at a time when U.S. crude oil prices are under pressure from a global glut in the near term and the prospect that Venezuela will increase its supply to the market over the next few years. Sources said that the two companies are in early stage talks about a merger. They cautioned, however, that a deal was not guaranteed.
Sources: Devon Energy and Coterra Energy, two US shale producers, are in merger talks.
People familiar with the matter have confirmed that Devon Energy and Coterra Energy were exploring the possibility of merging, which could result in one of the biggest independent shale producers in the United States. The U.S. oil market is still under pressure from the?near term global oil glut, and Venezuela's increased supply in the coming years. Sources said that the two companies were in early stage talks about a merger. They cautioned, however, that a deal was not guaranteed. Devon's shares fell?3% while Coterra's stock rose more than 6% in response to the story. Devon's market value is around $24 billion while Coterra's is about $20 billion.
Sources: Devon Energy and Coterra Energy, two US shale producers, are in merger talks.
People familiar with the matter have confirmed that Devon Energy and Coterra Energy were exploring the possibility of a merger, which would create one the largest independent U.S. Shale producers. Sources said that the two companies are in early stage talks for a merger. They cautioned, however, that a transaction was not guaranteed. Devon's shares?fell 3% while Coterra's stock rose more than 6% in response to the story. Devon's market value is around $24 billion while Coterra's is about $20 billion. Devon and?Coterra didn't immediately respond to comments. The combination of the two shale producers will be one of the biggest tie-ups between U.S.