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DJ Basin Update: Low-Cost Production, Rising Gas Ratios, and Strategic Shifts Amid Regulatory Pressure

Oil Gas Leads

The Denver-Julesburg (DJ) Basin continues to stand out as one of the most consolidated and cost-effective oil and gas plays in the U.S. Recent developments including record-setting drilling lengths, regulatory headwinds, and shifting capital strategies are reshaping how major and mid-sized players approach the basin in 2025.

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Permian Basin Drives 80% of U.S. Tight Oil Boom Since 2010

Oil Gas Leads

Over the past 15 years, the Permian Basin has transformed the landscape of U.S. million b/d ( 45% from 2020) Non-Permian Tight Oil (2024): 4.1 from 2020) Permian Plays Driving Production Permian Play 2024 Production Notes Wolfcamp 3.4 million b/d ( 45% from 2020) Non-Permian Tight Oil (2024): 4.1 crude oil production.

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Upstream M&A sails to $17 billion in 1Q25

Enverus

Upstream deal markets are heading into the most challenging conditions we have seen since the first half of 2020. Diamondback set a record in the Permian Basin with its acquisition of Double Eagle IV. On top of that, upstream companies will now have to navigate significant headwinds from falling oil and equity values.

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SM Energy Slows the Drill Bit in 2025: What the Data Tells Us About Permian Rig Reductions

Oil Gas Leads

In a strategic move aligned with shifting commodity price dynamics, SM Energy is proactively reducing its rig count in the Permian Basin through 2025. Taking them offline reflects a shift toward DUC (drilled but uncompleted) inventory building , a strategy SM effectively deployed during the 2020 downturn.

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Austin Chalk Makes a Comeback: EOG, SM, Magnolia Lead South Texas' Next Gas Boom

Rextag

poised to expand LNG export capacity , interest in gassy basins has surged. Since 2020, Austin Chalk gas output has nearly tripled to 1.8 Bcf/d, while oil output from the formation has increased by 26,000 barrels per day ( bbl /d). According to the U.S. billion cubic feet per day (Bcf/d) in 2024 to 7.0 Bcf/d by 2026.

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Upstream M&A sails to $17 billion in 1Q25

Permian Basin Oil and Gas Magazine

Andrew Dittmar, principal analyst at EIR, said that upstream deal markets are heading into the most challenging conditions his firm has seen since the first half of 2020. Diamondback set a record in the Permian Basin with its acquisition of Double Eagle IV.

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Austin Chalk Makes a Comeback: EOG, SM, Magnolia Lead South Texas' Next Gas Boom

Rextag

poised to expand LNG export capacity , interest in gassy basins has surged. Since 2020, Austin Chalk gas output has nearly tripled to 1.8 Bcf/d, while oil output from the formation has increased by 26,000 barrels per day ( bbl /d). According to the U.S. billion cubic feet per day (Bcf/d) in 2024 to 7.0 Bcf/d by 2026.

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