NGL to Crude Ratio

With its post-merger portfolio review finished and the Eagle Ford up for sale, Devon Energy used its Q3 2026 earnings call to lay out what the combined company does next, which is grow oil production modestly. That is a change in tone.

EOG Resources’ Q3 2026 earnings call centered on how its US wells keep getting better. Oil production hit a record 550.4 Mbbl/d, above guidance, and the company raised its full-year guidance to 549.5 Mbbl/d (from 548.7) even after selling its legacy Barnett and Woodford positions.

U.S. oil and gas rig count edged up one rig to 604 for the week ending November 6 according to Baker Hughes data, extending its run above 600 to a fifth straight week, as gains in Haynesville (+2), Permian (+1) and All Other (+1) outweighed declines in Gulf of Mexico (-2) and the Bakken (-1).

Genesis Energy said its Offshore Pipeline Transportation segment experienced no weather-related shut-ins during Q3 2026, typically the most active part of the hurricane season, but volumes still came in lower than anticipated due to lower crude oil production at some facilities that flow exclusively through its pipeline network, the company said during its earnings call November 5. 

Hess Midstream aims to establish itself as an independent midstream company operating in the Bakken and Denver-Julesburg basins as part of a recently announced restructuring with Chevron, Hess Midstream said in its quarterly earnings report published October 30.