BAKU, Azerbaijan, July 23. GL Group,
Azerbaijan's first privately-owned group of oil and gas companies,
today in Houston, Texas, U.S.A. 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 United States, 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.
Located within the Permian Basin, the acquired assets place GL
Group in the largest oil producing region in the United States and
one of the world’s principal centers of onshore oil and gas
activity. Spanning West Texas and southeastern New Mexico, the
Permian Basin covers approximately 223,000 square kilometers. 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.
For GL Group, becoming both the owner and operator of producing
assets in a basin of this scale, technical sophistication and
competitive intensity represents a significant milestone. 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 United States and other international oil and
gas markets.
For GL Group, becoming both the owner and operator of producing
assets in a basin of this scale, technical sophistication and
competitive intensity represents a significant milestone. 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 United States and other international oil and
gas markets.
This acquisition reflects more than a year of rigorous
evaluation, careful partnership building, and a deliberate country
entry strategy delivered through the leadership, professionalism,
discipline and commitment of the team. It stands as a clear
milestone in GL Group's strategic, operational, and investment
objectives.
“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. It reflects our long-term vision of building a diversified
international upstream business and creates a strong platform for
sustained growth in the United States,” said Asif Zeynalov, CEO and
Chairman of the Advisory Board of GL Group. “This is our first, but
very important step into the US market. We will continue to grow
and expand our presence.”
About GL Group
GL Group operates five oil and gas fields across Azerbaijan,
including "Kursangi" and "Garabaghli" in the Salyan region and
"Buzovna-Mashtagha," "Gala," and "Zira" on the Absheron Peninsula.
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. In its first international move, GL Group in
2024 acquired a 25% stake in Canadian Gazelle Energy Limited’s
highly prospective gas license in Türkiye's Thrace Basin. For more
information about GL Group and its strategic initiatives, please
visit http://www.gl.world
