Newsletter No. 187
Good afternoon subscriber,
This week, we're seeing encouraging signs for American oil and gas, from stronger dealmaking to advancements in how we produce energy.
U.S. upstream oil and gas deals nearly tripled in the third quarter, reaching $19.5 billion, with billions more in potential transactions ahead. Private equity firms are bringing roughly $20 billion in oil and gas assets to market as buyers return and opportunities expand. Meanwhile, new research from Johns Hopkins shows U.S. oil and gas production has increased while methane emissions have remained relatively flat, reflecting improvements in technology, infrastructure and operating practices.
After more than 35 years in this business, I see a lot to be encouraged about. Capital is moving, American energy production continues to advance, and the industry is finding better ways to develop the resources our country needs.
Keep reading this week’s The Upside for a closer look at the stories shaping the energy market.
This Week's Headlines
Oil and Gas News
- Oil Prices Remain High, But Inflation May Be Easing
-
$20 Billion in Oil & Gas Assets Up for Sale
-
U.S. Oil & Gas Is Producing More With Lower Emissions Intensity
What's Happening at King
- Jake Claver: The Future of Digital Assets, Crypto & Wealth Management
- Upcoming Webinar with EPG's Dan Steffens
Move to Watch
- Oil & Gas Dealmaking Is Back in a Big Way
Oil and Gas News
Oil Prices Remain High, But Inflation May Be Easing
Oil prices remain elevated, but Wall Street sees signs that inflation pressures may be easing. Economists expect September inflation to reach 3.6%–3.7% annually, while core inflation holds steady at 2.4%. Markets now see just a 19%–20% chance of a Fed rate hike in October.
Meanwhile, WTI crude is trading above $95 per barrel, gasoline averages $4.33 per gallon, and diesel remains above $6. Despite a new agreement to release Russian diesel supplies, the initial volumes are unlikely to make a meaningful difference in fuel prices.
The question now is how long higher energy costs can persist before they start affecting prices across the broader economy.
Source: Morningstar\
$20 Billion in Oil & Gas Assets Up for Sale
Higher oil prices are bringing buyers and sellers back to the table. Private equity firms are marketing roughly $20 billion in U.S. oil and gas assets, with major deals taking shape across the Permian, Eagle Ford and Denver-Julesburg basins.
Companies backed by EnCap, Quantum and other energy investors are exploring multibillion-dollar sales as crude prices strengthen asset valuations. Global oil and gas deal values climbed 92% year over year to approximately $44 billion in the first quarter of 2026.
I've said it before. There's real value in buying good oil and gas assets, developing production and knowing when the market presents an opportunity to sell. We're seeing that strategy play out across the industry.
U.S. Oil & Gas Is Producing More With Lower Emissions Intensity
After more than 35 years in the oil and gas business, I've seen firsthand how technology and infrastructure improvements continue to move this industry forward.
New research from Johns Hopkins University shows that U.S. oil and gas methane emissions remained relatively flat from 2019 to 2024, even as production increased. Methane emissions per unit of production declined approximately 11%, while Texas saw a 14% reduction in total oil and gas methane emissions.
Better pipelines, improved operating practices and investments in natural gas gathering infrastructure are helping producers capture more gas and bring it to market instead of losing it through leaks or flaring.
That's good news for American energy. We're producing more of the oil and natural gas this country needs while making measurable progress in operating more efficiently. There's still work to do, but these advancements show what American innovation can accomplish.
| Get Oil & Gas Insights |
| Book a Meeting |
| Learn More |
Happening at King
Jake Claver: The Future of Digital Assets, Crypto & Wealth Management
On this episode of The Jay Young Show, my co-host Jordan Soto and I sat down with Jake Claver, Chairman and Principal of Digital Ascension Group, to explore the evolving world of digital assets, cryptocurrency, blockchain technology, and the future of wealth management.
Jake shares his perspective on how the digital asset industry has matured, what sophisticated investors should understand before entering the market, and how blockchain technology and tokenization could reshape traditional finance.
Upcoming Webinar with EPG's Dan Steffens
On Election Day, the stakes are high for U.S. energy policy, and oil markets are facing significant uncertainty. Could oil prices reach $125 per barrel by Christmas? What could the midterm elections mean for the future of the oil and gas industry?
Join Dan Steffens, President of Energy Prospectus Group (EPG), and Rachel Griffith, SVP at King Operating Corporation, on Tuesday, November 3, for a timely discussion on the forces shaping today's energy markets.
Date: Tuesday, Nov. 3, 2026
Time: 1 p.m. CT
Register Here
Move to Watch
Oil & Gas Dealmaking Is Back in a Big Way
U.S. upstream oil and gas dealmaking nearly tripled in the third quarter of 2026, reaching $19.5 billion, up from $6.7 billion in the second quarter. According to Energy Advisors Group, 28 transactions were announced as companies looked to expand acreage, improve drilling efficiency and strengthen their production portfolios.
The Permian and Eagle Ford remain major areas of activity, while international buyers are showing increased interest in U.S. natural gas assets to support LNG demand and energy security. Another $30 billion in potential deals is being tracked for the fourth quarter.
After more than 35 years in this industry, I've seen how market conditions create opportunities for companies that know how to acquire, develop and sell oil and gas assets. We're seeing buyers return to the table, and that's an encouraging sign for American energy.
All the best,
Jay
