Despite a disruptive and volatile energy environment across the globe, the nation’s A&D continues in full gallop. Reese Energy Consulting today spotlights the oil and gas producers and midstreamers, which recently have made moves to realign portfolios, add oomph to basin positions, and wave see-you-later-bye to inherited assets. This, at a time of heightened uncertainty when commodity prices can either soar or sour. An anticipated deal to end the war between the U.S. and Iran could be shaky at best. Still, the world runs on oil and gas, and here, we keep the world running.    

We start with Okla. City-based Devon Energy, which acquired Coterra’s Permian Delaware assets in a $58 billion deal in May then won a $2.6 billion record-winning bid the same month for more Delaware assets in a federal lease sale. With inherited assets scattered across the Midcontinent, Rockies, Eagle Ford, and Appalachia, Devon is laser-focused on the Delaware. Look for sales of its inherited assets to come, we think.                       

Meanwhile in the San Juan Basin, private investor Sixth Street has snapped up Logos Energy for $1 billion. Logos ranks second as the largest natural gas producer in the San Juan with more than 240,000 net acres in N.M., and Colo.

Speaking of the San Juan, Tulsa-based Whiptail Midstream, which sold its oil, gas, and water gathering business in the Gallup oil play in 2025 to a subsidiary of MPLX LP for $237 million, is back in the saddle again albeit in a different basin. Whiptail has now completed its acquisition of Tulsa-based Williams natural gas gathering and compression assets in the Anadarko Basin. According to Hart Energy, the system includes 1,200 miles of gas gathering pipe and related compression facilities, serving more than 1 million dedicated acres across Okla., and Texas.