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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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Money Can Buy It - After Permian M&A Spree, E&Ps Throttle Growth While Integrateds Motor On

RBN Energy

The record $120 billion upstream M&A spending spree in 2024 focused on the consolidation of Permian Basin positions by the major U.S. MMboe/d of production, almost 25% of their 2023 Permian output. publicly traded oil and gas companies.

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$608MM Deal: Is Permian Resources Quietly Becoming the Top Operator in the Delaware Basin?

Rextag

Permian Resources Corporation, a leading pure-play operator in the Delaware Basin, has reported strong first-quarter 2025 financial and operational results and announced a strategic bolt-on acquisition of APA Corporations Northern Delaware Basin assets for $608 million. bbl Natural gas: $1.35/Mcf Mcf NGLs: $23.90/bbl

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

Enverus

Diamondback set a record in the Permian Basin with its acquisition of Double Eagle IV. The sale of Double Eagle at about $7 million per undeveloped location topped the previous high-water mark for Permian inventory set by Occidentals purchase of CrownRock in late 2023.

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2024 Canadian Oil & Gas Production Snapshot

Oil Gas Leads

579,173 BOE/d +11% from 2023 Suncor Energy ~600,000 BOE/d capacity Oil sands operations Mid-Size Producers (100,000 499,999 BOE/d) Company 2024 Average Production Notes ARC Resources Ltd. 174,255 BOE/d +11% from 2023 Peyto Exploration 125,202 BOE/d +19% from 2023 Paramount Resources Ltd. 102,012 bbl/d (bitumen) SOR of 2.39

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Oil & Gas in 2025: Which Basin Will Dominate U.S. Energy and What’s Behind the $105 Billion in Oil Deals?

Rextag

Over the past two years, 2023 and 2024, production levels have soared, investment strategies have shifted, and new regulatory frameworks have emerged. Now, as we step into 2025 , the industry faces critical questions : Which basins will see the most growth? 2023 Production: ~6.0 We analyze major U.S. 2024 Production: 6.3

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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. SM Energys Drilling Trends: January 2023 to May 2025 Using public drilling data for SM Energy wells in Texas, we grouped spud activity by month from January 2023 onward.

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