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This shorter cycle time from drilling to production optimizes capital efficiency and improves returns. Looking ahead, BP plans to drill around 40 exploration wells over the next three years , underscoring its ambition to expand its upstream production base. BPs internal planning assumptions currently model Brent crude at $71.50
Top 10 Oparators in Oklahoma by Wells Drilled (June 2025) Company Oklahoma Production Oklahoma CapEx Active Rigs (Drilling) Ovintiv ~91 MBOE/d (Q1 2025; ~55% liquids) ~$300–$325 MM planned 2025 ~1–2 rigs (added one in early 2025) Mach Natural Resources (Mach) ~86.7 Liquids” includes crude oil and NGLs.
Permian Growth Isnt OverYet Despite a reduction in drillingrigs driven by weaker oil prices, production in the Permian is still increasing. In 2025, crude and condensate output is projected to rise by 200,000 barrels per day (b/d), reaching 6.6 million b/d by 2035 assuming a real oil price of US$70 per barrel (WTI).
HRT is directly connected to the Hardisty Diluent Recovery Unit, an innovative facility which separates diluent from raw bitumen prior to rail transportation, allowing for a competitive netback for upstream producers versus pipeline alternatives. and www.strathconaresources.com. Boe may be misleading, particularly if used in isolation.
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