Appalachian Basin Shuffle: Infinity and NOG Snag Antero’s Utica Assets for $1.2 Billion
In a major strategic realignment of Appalachian...
In a major strategic realignment of Appalachian portfolios, Infinity Natural Resources and Northern Oil & Gas (NOG) have partnered to acquire Antero Resources’ Ohio Utica Shale assets for a total consideration of $1.2 billion. Under the joint venture agreement announced on December 8, Infinity will secure a 51% operating interest for $612 million, while NOG will acquire a 49% non-operated stake for $588 million.
The transaction encompasses approximately 71,000 net acres across Guernsey, Belmont, and Harrison counties. The assets currently produce 133 MMcfe/d, with an 81% gas weighting, from 241 net operated horizontal wells. For the acquiring parties, the upside lies in the inventory depth, which includes 110 undeveloped locations representing over 1.6 million lateral feet. The package also integrates significant midstream infrastructure, including 141 miles of gathering lines and 660 MMcfe/d of throughput capacity.
Infinity CEO Zack Arnold characterized the deal as "transformational," noting it as the largest acquisition in the company's history. NOG leadership echoed this sentiment, identifying the acreage as a rare core Utica growth asset capable of supporting sustained rig activity.
Simultaneously, Antero Resources is pivoting capital into West Virginia, announcing a separate $2.8 billion acquisition of Marcellus assets from HG Energy II. The Infinity-NOG transaction is expected to close in the first quarter, with financing provided by cash on hand and expanded credit facilities.
Analysts anticipate the Federal Reserve will announce a third straight...
Analysts anticipate the Federal Reserve will announce a third straight rate cut on Wednesday, following their meeting this week, but don’t expect the decision to be unanimous. Not all policymakers are sold on lowering rates, especially since the data picture is still fuzzy following the government shutdown. Investors will also watch for any clues about what the central bank might do when it meets again at the end of January.
Who will win college football’s most prestigious award? Besides...
Who will win college football’s most prestigious award? Besides being the easiest award to high-five, the Heisman Trophy recognizes college football’s top player. Finalists will be announced today, and a winner will be named on Saturday night. Indiana QB Fernando Mendoza and Vanderbilt QB Diego Pavia have the best odds of taking the trophy home. Mendoza may have the edge after his Hoosiers shocked Ohio State over the weekend to win the Big Ten championship and secure the top overall pick in the College Football Playoff.
Salesforce CEO Mark Benioff said he may rename the company “Agentforce.”
Southwest Airlines received an $11 million credit from the Department of Transportation. It was the amount the company still owed on a $141 million fine imposed by the Biden administration after Southwest’s operations meltdown during the 2022 holiday travel rush.
Lando Norris won the 2025 Formula 1 World Championship, which came down to the final race of the year, in Abu Dhabi.
The weekly Baker Hughes rig count, dated December 5, 2025, painted a picture...
The weekly Baker Hughes rig count, dated December 5, 2025, painted a picture of cautious optimism, showing a modest yet meaningful increase in drilling activity across North America. The United States Total Rig Count rose to 549, an increase of 5 rigs from the previous week's 544. This upward momentum was the primary driver for the overall North America count, which climbed by 8 to 740 active rigs.
🇺🇸 The U.S. Story: Oil Rises, Gas Retreats
The increase was almost entirely driven by the Oil sector, which added 6 rigs, bringing the total to413. This gain slightly offset a minor pullback in the Gas sector, which dropped 1 rig to 129.
Looking at drilling methods, Horizontal rigs—the industry standard—saw a slight increase of 1, reaching 476. The most significant weekly change in drilling came from Vertical rigs, which jumped by 4 to 15.
The count also highlighted the ongoing migration of activity:
▫️Land drilling dominated, adding 3 rigs for a total of 527.
▫️The Offshore count (including the Gulf of Mexico) also showed growth, rising to 19 (U.S.) and 12 (Gulf of Mexico), respectively.
A Year-Over-Year Perspective
Despite the weekly gains, the industry remains structurally smaller than it was it was a year ago. The U.S. Total Rig Count of 549 is 40 rigs lower than it was in December 2024 (589). The year-over-year decline is most pronounced in:
Texas: Down a staggering 60 rigs from 286. Oil: Down 69 rigs from 482. Permian Basin: Down 53 rigs from 304.
In contrast, a few areas have seen significant growth over the past year, reflecting new areas of focus:
Louisiana is up 16 rigs from 30. The Utica basin is up 5 rigs to a total of 14.
Crown Point Buys 95% Stake in Argentina Oil & Gas Concessions
Crown Point Energy Inc. has successfully finalized the acquisition of a dominant...
Crown Point Energy Inc. has successfully finalized the acquisition of a dominant 95% working interest in the Chubut exploitation concessions in Argentina, significantly enhancing its production profile within the Golfo San Jorge Basin. This strategic move, totaling $57.9 million in cash, consolidates interests previously held by Tecpetrol SA and YPF SA (59.33%) with a prior 35.67% stake secured from Pampa Energia in October. The transaction was partially financed through a $30 million loan from Liminar Energia, with contingent payments of up to $3.5 million payable to Pampa upon closing.
The newly acquired assets are immediately accretive, with robust production over the first nine months of 2025 averaging 5,020 barrels of oil equivalent per day (boe/d). This output consists primarily of 4,500 barrels per day (bbl/d) of light and medium crude, alongside 3.13 million cubic feet per day (MMcf/d) of gas sales.
This expansion underscores Crown Point's commitment to Argentina, where it is actively focused on exploration and development across four key basins: Golfo San Jorge, Austral, Neuquén, and Cuyo. The company's operations are strategically placed near the Neuquén Basin, home to the prolific Vaca Muerta Shale play, a critical area targeting a 1 MMbbl/d output benchmark by the end of the current decade.
