GL Group, Azerbaijan's first privately-owned group of oil and gas companies, today in Houston announced that it has completed the acquisition of upstream oil and gas assets in four producing oil and gas fields near Midland, Texas, U.S.A. comprising more than 200 active producing wells, and has formally assumed 100% operatorship of the assets.
The transaction makes GL Group the first Azerbaijani group to own and operate producing upstream oil and gas assets in the U.S., marking a historic milestone for Azerbaijan's private oil and gas sector and expanding its presence into the heart of the U.S. energy industry, AzerTAC reported.
Located within the Permian Basin, the acquired assets place GL Group in the largest oil producing region in the U.S. Spanning West Texas and southeastern New Mexico, the Permian Basin covers approximately 223,000 square km. In 2025, the basin produced approximately 6.6 million barrels of crude oil per day, representing nearly half of total U.S. production and more than 8% of global crude oil output. The basin also produced approximately 27.6 billion cubic feet of marketed natural gas per day in 2025, equal to about 23% of U.S. marketed gas production and nearly 7% of global natural gas production.
The acquisition advances GL Group’s international growth strategy following its entry into Türkiye’s upstream market in 2024. The Texas acquisition establishes a solid foundation for GL Group’s further growth in the U.S. and other international oil and gas markets.
"This acquisition is a strategic milestone that establishes our presence in the world's largest and most competitive upstream oil and gas market. It...creates a strong platform for sustained growth in the United States,” CEO and Chairman of the Advisory Board of GL Group Asif Zeynalov said.
GL Group operates five oil and gas fields across Azerbaijan. The group of companies’ portfolio includes operating companies such as "Salyan Oil Limited," "Taghiyev Operating Company," and "GL Technical Services" LLC, which provides technical services in the oil and gas industry.
