At 419 million bbl, US crude oil inventories are about 9% below the 5-year average for this time of year, the EIA report indicated.

But nearly 40% continue to expect spending to rise next year even though executives’ overall outlook remains slightly negative.

From Edge Energy, Prairie Operating agreed to acquire about 11,000 net acres, expanding its Denver-Julesburg basin footprint to about 60,000 net acres.

The deal, agreed to in May, adds 5,000 boe/d of total equivalent production and over 300 gross undeveloped locations for $142 million in cash.

Through the agreement, which closed July 1, 2025, Amplify sold all of its non-operated Eagle Ford working interests for $23 million.