What a year it’s been less than two months into 2026 for oil and gas mergers, asset divestitures, and acquisitions. While buyer demand remains strong for shale opportunities, especially in the luxe-priced Permian, it’s driven more producers to seek out opportunities in other basins, including explorations of new frontiers outside the U.S.

Reese Energy Consulting today is keeping with domestic moves, starting with the latest from Denver-based Ovintiv, which has waved see-you-later-bye to its Anadarko position. The $3 billion cash deal with Stone Ridge Asset Management and Flywheel Energy includes 360,000 net acres and 90 MBOED, adding to.FlyWheel’s $1.3 billion acquisition last year of 300,000 net acres in the Anadarko from ConocoPhillips.

Meanwhile, midstreamer Kinetik Holdings is flirting with a sale of its Permian Delaware midstream system after receiving a “Hello, beautiful” takeover wink from OXY’s Western Midstream. Kinetik, which operates 4,600 miles of natural gas and crude oil gathering and transportation pipe across Texas and N.M., and six gas plants, might have been taken by surprise by the interest. The company is now testing sales vibes from other potential midstream buyers before a pen meets paper.

Lest we forget, ExxonMobil and SM Energy are still looking for buyers for their Eagle Ford assets. March could bring them.