In July 2026, GL Group completed the acquisition of producing upstream oil and gas assets in four producing oil and gas fields near Midland, Texas, and formally assumed 100% operatorship of the assets. The acquisition includes more than 200 active producing wells and represents GL Group's first operated upstream business in the United States.
The assets are located in the Permian Basin near Midland, Texas, the largest oil-producing region in the United States and one of the world's principal centres of onshore oil and gas production. Covering approximately 223,000 square kilometres across West Texas and southeastern New Mexico, the Permian Basin produced approximately 6.6 million barrels of crude oil per day and 27.6 billion cubic feet of marketed natural gas per day in 2025, accounting for nearly half of total U.S. crude oil production and approximately 23% of U.S. marketed natural gas production.
Through GL Energy Operating LLC, GL Group is responsible for the operation, management and development of its producing assets in the United States, applying the Group's technical expertise, operational standards and commitment to safe and efficient upstream operations. The acquisition strengthens GL Group's international upstream portfolio and establishes a strategic platform for the Group's continued growth and long-term presence in the United States energy sector.
