Baku, July 23, 2026 – The Europe Today: GL Group, Azerbaijan’s first privately owned group of oil and gas companies, has announced the successful acquisition of upstream oil and gas assets in four producing fields near Midland, Texas, marking the company’s formal entry into the United States energy market.
The transaction, announced in Houston, Texas, includes more than 200 active producing oil and gas wells, with GL Group assuming 100 percent operatorship of the assets. The acquisition makes GL Group the first Azerbaijani private company to own and operate producing upstream oil and gas assets in the United States, representing a landmark achievement for Azerbaijan’s private energy sector.
The newly acquired assets are located in the Permian Basin, the largest oil-producing region in the United States and one of the world’s most significant onshore hydrocarbon basins. Covering approximately 223,000 square kilometres across West Texas and southeastern New Mexico, the basin produced around 6.6 million barrels of crude oil per day in 2025, accounting for nearly half of total U.S. oil production and more than 8 percent of global crude oil output. It also produced approximately 27.6 billion cubic feet of marketed natural gas per day, representing around 23 percent of U.S. gas production and nearly 7 percent of global natural gas output.
The acquisition marks another milestone in GL Group’s international expansion strategy, following its entry into Türkiye’s upstream energy sector in 2024. Company officials said the Texas investment provides a strong platform for further growth in the United States and other international oil and gas markets.
According to GL Group, the acquisition follows more than a year of detailed evaluation, strategic planning, and partnership development aimed at establishing a long-term presence in the U.S. energy industry.
“This is a proud moment for everyone at GL Group. This acquisition is a strategic milestone that establishes our presence in the world’s largest and most competitive upstream oil and gas market,” said Asif Zeynalov, Chief Executive Officer and Chairman of the Advisory Board of GL Group.
He added that the investment reflects the company’s long-term vision of building a diversified international upstream business and creates a solid foundation for sustained growth in the United States.
“This is our first, but very important step into the U.S. market. We will continue to grow and expand our presence,” Zeynalov said.
GL Group currently operates five oil and gas fields in Azerbaijan, including the Kursangi and Garabaghli fields in the Salyan region, as well as the Buzovna-Mashtagha, Gala, and Zira fields on the Absheron Peninsula. Its portfolio also includes Salyan Oil Limited, Taghiyev Operating Company, and GL Technical Services LLC, which provides technical services to the oil and gas industry.
In 2024, the company made its first international investment by acquiring a 25 percent stake in Canadian Gazelle Energy Limited’s gas exploration licence in Türkiye’s Thrace Basin, further strengthening its position as an emerging international energy company.
