Azerbaijan’s GL Group acquires oil and gas assets in Texas

Azerbaijan’s private energy company GL Group has acquired upstream oil and gas assets across four producing fields near Midland, Texas, becoming the first Azerbaijani company to own and operate producing oil and gas assets in the United States.

The acquisition includes more than 200 producing wells, with GL Group assuming 100% operatorship of the assets. The fields are located in the Permian Basin, the largest oil-producing region in the United States, which produced about 6.6 million barrels of crude oil per day in 2025.

The company said the acquisition forms part of its international expansion strategy following its entry into Türkiye’s upstream market in 2024 and provides a platform for further growth in the United States and other international markets.

Chief Executive Officer and Chairman of the Advisory Board Asif Zeynalov described the transaction as a strategic milestone that establishes the company’s presence in the world’s most competitive upstream oil and gas market.