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.

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.

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.

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

Under the contract, Velesto will assign the NAGA 5 rig to drill a firm 15 wells. Operations are scheduled to begin in June 2025.