This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
Location: British Columbia & Alberta | Precision Drilling Partnership The Montney formation — long known for its stacked resource potential — is now becoming equally famous for technological innovation. At the forefront is PD 868 , North America’s first land-based drillingrig equipped with modular robotics to automate pipe handling.
shale oil production, is experiencing a significant pullback in drilling activity. According to our analysis, 24 drillingrigs that were active in the Midland region during 2024 have not returned to drill in 2025 — a clear signal that the slowdown is real and gaining momentum. West Texas, the heart of U.S.
Below we summarize recent (2024–2025) drilling activity, budget allocations, and production volumes in Oklahoma (primarily the Anadarko Basin and related plays) for six companies: Ovintiv , Mach Natural Resources , Devon Energy , Coterra Energy , Continental Resources , and Mewbourne Oil Company. Liquids” includes crude oil and NGLs.
Purchase Now Bonus Market Intel When you purchase this list you will receive the most recent drillingrig, new well permits and wells drilled YTD reports for LA. Permian Wells Drilled2024 – Number of wells drilled in the Permian in 2024. Wells Drilled US 2023 – Total wells drilled in the US 2023.
Purchase Now Bonus Market Intel When you purchase this list you will receive the most recent drillingrig, new well permits and wells drilled YTD reports for Grande Prairie. Rig Count – Number of rigs operating in the U.S. Wells Drilled 2023 – Total wells drilled in 2023.
Purchase Now Bonus Market Intel When you purchase this list you will receive the most recent drillingrig, new well permits and wells drilled YTD reports for NM, This is a $30 oil & gas market intel bundle you receive at no extra cost. Permian Wells Drilled2024 – Number of wells drilled in the Permian in 2024.
Purchase Now Bonus Market Intel When you purchase this list you will receive the most recent drillingrig, new well permits and wells drilled YTD reports for Grande Prairie. Rig Count – Number of rigs operating in the U.S. Wells Drilled 2023 – Total wells drilled in 2023.
Purchase Now Bonus Market Intel When you purchase this list you will receive the most recent drillingrig, new well permits and wells drilled YTD reports for Grande Prairie. Rig Count – Number of rigs operating in the U.S. Wells Drilled 2023 – Total wells drilled in 2023.
Purchase Now Bonus Market Intel When you purchase this list you will receive the most recent drillingrig, new well permits and wells drilled YTD reports for Grande Prairie. Rig Count – Number of rigs operating in the U.S. Wells Drilled 2023 – Total wells drilled in 2023.
Purchase Now Bonus Market Intel When you purchase this list you will receive the most recent drillingrig, new well permits and wells drilled YTD reports for Grande Prairie. Rig Count – Number of rigs operating in the U.S. Wells Drilled 2023 – Total wells drilled in 2023.
In Q2 2025, the company dropped three drillingrigs and one completion crew, shaving $400 million off its capital budget. Permitting data reflects the shift : H1 2024: 466 new well permits H1 2025: 316 permits (–32% YoY) Diamondback has made it clear: it will flex spending up or down depending on market conditions.
It was an underground mine, but NEXM plans to re-open it as a lower-grade, open pit mine—a Nov 2024 resource estimate shows 44.2 QA/QC Drilling at Selebi Mine Project was completed by Mitchell Drilling of Botswana utilizing a Sandvik UDR1500 and a Boart Longyear LF-160 diamond drillrig. Samples are generally 1.0
The third will be a purchase of drillingrigs as the company expands in the Middle East. listed the drilling unit in 2021 to raise capital and develop a services company with the capacity to expand outside its home market. ADNOC Drilling plans to begin drilling in Kuwait and Oman this year after starting in Jordan in 2024.
Ensign T138 The Ensign T138 drillingrig is part of Ensign Energy Services’ fleet, a company renowned for its advanced drilling technologies and global operations. Ensign T138: Operational Highlights Drilling Activity : In 2024, Ensign T138 drilled 25 wells for Diamondback Energy, primarily in Martin County, Texas.
The decline in drillingrigs coincides with record-low natural gas prices for most of 2024 and the wider adoption of advanced drilling and completion technologies.
USEDC plans to run a dedicated drillingrig on the acquired acreage, making this acquisition a key component of USEDCs 2025 plan to invest up to $1 billion in U.S. These factors position USEDC for sustained, efficient growth and reinforce our commitment to delivering long-term value for our partners. oil and gas properties.
crude oil production grew by 270,000 barrels per day in 2024 to average 13.2 EIA reported, In 2024 the Permian region … produced more crude oil than any other region, accounting for 48 percent of total U.S. Even with the lower rig count, Permian production grew because well productivity improved. crude oil production.
Summit runs two-to-three drillingrigs and has a capital budget of about $250 million. Go to [link] The post Top Hand 2024: Honoring Our Own appeared first on Permian Basin Oil and Gas Magazine. Its January 2025 production is approximately 28,000 BOEPD. PHOTOGRAPHY BY JERROD SHELTON, CRE8IVE.COMPANY, LUBBOCK, TEXAS.
ADNOC Drilling continues to record strong growth, fuelled by the expansion of its onshore and offshore fleets, as well as the continued growth of the oilfield services (OFS) segment and new joint ventures launched in 2024. The company now has the largest fleet in the Middle East, seeing net profits rise by 26% in 2024 to US$1.3bn.
Purchase Now Bonus Market Intel When you purchase this list you will receive the most recent drillingrig, new well permits and wells drilled YTD reports for Texas, This is a $30 oil & gas market intel bundle you receive at no extra cost. Permian Wells Drilled2024 Number of wells drilled in the Permian in 2024.
Purchase Now Bonus Market Intel When you purchase this list you will receive the most recent drillingrig, new well permits and wells drilled YTD reports for the US, This is a $30 oil & gas market intel bundle you receive at no extra cost. Permian Wells Drilled2024 Number of wells drilled in the Permian in 2024.
Lets break down what Devon said and did across drilling , efficiency , and regional execution. Devon Drilling Activity by State (Q1 2024 vs Q1 2025) Drilling shifted significantly across Devons asset base. Devon Drilling Activity by State (Q1 2024 vs Q1 2025) Drilling shifted significantly across Devons asset base.
Purchase Now Bonus Market Intel When you purchase this list you will receive the most recent drillingrig, new well permits and wells drilled YTD reports for Canada, This is a $30 oil & gas market intel bundle you receive at no extra cost. Rig Count Number of rigs operating in the U.S.
Purchase Now Bonus Market Intel When you purchase this list you will receive the most recent drillingrig, new well permits and wells drilled YTD reports for Grande Prairie. Rig Count Number of rigs operating in the U.S. Wells Drilled 2023 Total wells drilled in 2023.
million in common shares of Tourmaline Taken together, the disposed assets generated $149 million of operating earnings in 2024 (12% of total Strathcona YE 2024 operating earnings, excluding interest and other corporate items) and had a YE 2024 proved PV-10 before-tax of approximately $2.3 (Tourmaline) for $291.5
This statement was followed by a planned reduction of three drillingrigs and one completion crew in Q2 2025, aligning with a $400 million cut to its full-year capital budget. A clear decline in Q1 2025 activity compared to Q1 2024 underscores Diamondbacks decision to focus on capital efficiency.
Quarterly data analysis shows a modest increase in drilling activity during the first quarter of 2025 compared to the same period in 2024. Quarterly Drilling Activity Comparison Q1 2024 Activity Count: 52 wells Q1 2025 Activity Count: 56 wells Year-over-Year Change: +7.7% billion in Q4 2024) Pre-tax Earnings (RCPBIT): $4.5
The company announced it would drop three drillingrigs and one completion crew in Q2 2025 , along with a $400 million reduction in full-year capital spending. Permit data tells the story : H1 2024 (Q1 + Q2) : 466 new well permits H1 2025 (Q1 + Q2) (actual + forecasted) : 316 A decline of 150 permits, or 32.2%
Quarter-Over-Quarter Growth CNRL recorded 121 drilling activity records in Q1 2025 , up from 114 in Q1 2024. Rig Activity: AKITA and Precision Lead The top-performing rig for Q1 2025 was AKITA 28 , logging 19 records , up from 12 in Q1 2024.
1) The number of drilled uncompleted wells (DUCs) in the last year fell faster than the drop in drillingrigs, indicated the backlog of such wells is declining. EIRs report also examines differences between EIRs DUC estimates and those of the Energy Information Administration (EIA).
Below is a deep dive into the company’s drilling activity, capex decisions, rig utilization, and state-by-state footprint for the quarter. Quarterly Drilling Activity: 2024 vs 2025 Coterra drilled: 88 wells in Q1 2024 43 wells in Q1 2025 This marks a 51% year-over-year decline in Q1 drilling activity.
land drilling sector: rig churn. Drilling activity in Q1 2025 declined by nearly 12% compared to the same period in 2024. While the companys $736 million in Q1 revenue and $33 million net income signal resilience, especially after a $54 million loss in Q4 2024, the performance of the U.S. What does that mean?
million bpd in 2024. Regional drilling activity remains mixed, with the Permian Basin and Eagle Ford experiencing slight declines, while other areas such as Oklahoma and Louisiana are showing growth. Overall Rig Count : The total number of active drillingrigs in the U.S. Oil Rigs : Fell by 1 to 486 this week.
While revenue declined year-over-year, the companys solid footing in rig operations, growing adoption of advanced technologies, and optimism around natural gas markets show its playing the long game. Revenue Recap: In Line With Expectations, Down From 2024 In Q1 2025, Patterson-UTI posted $1.3 billion in Q1 2024.
million shares since the programs launch in August 2024, or ~4% of outstanding Recognized by The Financial Times as the fastest growing energy company across all of the Americas Calgary, Alberta(Newsfile Corp. million shares since the programs launch in August 2024, or approximately 4% of the common shares outstanding at that date.
Investors have been concerned that rising capital expenditures, which surpassed guidance in 2024, could continue and limit future payouts. Chief Executive Officer Magda Chambriard used President Donald Trumps slogan drill baby drill to advocate for the exploration during a conference in Houston last week.
Besides the need for more juice to drive drilling activity (yes, Im talking about electricity powered drillingrigs), electrification of completion, production, compression, and transport operations is also growing the increasing power demand in the region. Experts are scrambling to determine how to deliver that power.
Mineralanswers.com reports that between 1973 and January of 2025, 116,888 oil and gas wells had been drilled in the state to arrive at that production. In a December 2024 report, the Dallas Federal Reserve noted that the oil and gas industry contributed 4.2 Its rig growth sets it apart from the national trend.
We organize all of the trending information in your field so you don't have to. Join 5,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content