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Hart Energy reported recently that Fort Worth-based Blackbeard Operating is leading a horizontal drilling resurgence in Central Basin platform, “a legacy oil basin that’s drawing industry attention once again.”
(Oil & Gas 360) ~20,000 net acres Significant multi-bench drilling inventory Upsize of USEDCs syndicated revolving credit facility led by Citibank, N.A. The position includes a substantial proved producing component and multi-year drilling inventory to supplement the firms existing footprint in the area. oil and gas properties.
operators to report an increase in active drillingrigs in the past year, according to Enverus’ latest Drill Down Report. and Permian Basin. ExxonMobil reported 39 working rigs as of July 4 (weekly average of 36.9 for an increase of 1 rig from 35.9 rigs followed by Occidental with 22.0, In the U.S.,
Energy Development Corp. said this week it acquired 20,000 net acres in Reeves and Ward counties in Permian Basin for $390 million from an undisclosed seller. Energy Development said the deal includes a proved producing component and expands the companys Permian holdings while increasing its multi-bench, multi-year drilling inventory.
As Diamondback Energy heads into the second half of 2025, the company stands at the intersection of consolidation, capital discipline, and operational transformation. Here are the five biggest trends to watch: Permian Basin Account Directory – $10 Buy Now Includes: Account Name, Location, Phone, Website, Wells Drilled…… 1.
Read more US oil rig count down by 1, says Baker Hughes Summary : For the week ended June 20, the total U.S. active drillingrig count fell by 1 to 554, marking a continued decline and sitting 34 rigs below the count from the same time last year. holds a key weapon in its massive shale energy output.
Detailed list of drillingrigs and Operators that spud wells in the Permian basin last 30 days. XTO Energy Inc.). Region The state or geographic region of the rig (e.g., County The specific county where the rig is located. State/Province The state where the drilling is taking place (e.g.,
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.
In its latest June 2025 Short-Term Energy Outlook , the U.S. Energy Information Administration (EIA) delivered a sobering update on the Eagle Ford Basin—once a crown jewel of U.S. According to the agency, the Eagle Ford Basin is the leading contributor to that downward revision, with the Permian Basin also playing a key role.
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.
Oil majors ExxonMobil and Occidental Petroleum are the top operators in Permian Basin, according to a report May 27 from Enverus. The report said as of May 23 the latest weekly averages of active drillingrigs were 35.0 Devon Energy with 13.0, Diamondback Energy with 12.6, Coterra Energy with 10.6
The first well was spud on April 1, 2025, utilizing Precision E-DrillingRig 461, as part of the Companys continued strategy to expand production and enhance operational efficiencies in the Denver-Julesburg (DJ) Basin. About Prairie Operating Co. Prairie Operating Co. Prairie Operating Co.
Energy Information Administration. EIA said April 16 most of the growth came from Permian Basin. Permian averaged 308 active drillingrigs in 2024 to account for more than half the rigs in operation (26 fewer rigs than in 2023). million b/d appeared first on Permian Basin Oil and Gas Magazine.
Devon Energys first-quarter 2025 results reflect a disciplined, high-performance approach to drilling and capital deployment. Lets break down what Devon said and did across drilling , efficiency , and regional execution. per Boe, total production cost at $12.42 per Boe, total production cost at $12.42
Coterra Energy (NYSE: CTRA) released its Q1 2025 results with clear signals of capital discipline, operational focus, and strategic realignment amidst a volatile commodity environment. Below is a deep dive into the company’s drilling activity, capex decisions, rig utilization, and state-by-state footprint for the quarter.
A Multi-Pronged Strategy to Sustain Growth Beyond Tight Oils Crown Jewel The transformation of the United States into a global energy powerhouse over the past two decades is inseparable from the fracking-led renaissance of the Permian Basin. energy industry. million b/d. million b/d of production before reaching a plateau of 7.7
Enverus Intelligence Research (EIR), a subsidiary of Enverus, an energy-dedicated SaaS company that leverages generative AI, released on Feb. 12 a report that analyzes recent inventories of drilling uncompleted wells (DUCs) and the implications for 2025 budgets. Key takeaways of the report include the following. (1)
Cactus Drilling remains one of the most active drilling contractors in the U.S., playing a crucial role in oil and gas development across key basins. As of this year, a total of 120 wells have been drilled by Cactus rigs, demonstrating strong industry demand and continued investment in drilling operations.
Patterson-UTI Energy (NASDAQ: PTEN) kicked off 2025 with a steady operational performance, a strategic focus on natural gas, and an unwavering commitment to drilling innovation. Rig Count: Holding Steady in the U.S. The company operated an average of 106 drillingrigs in the U.S. energy sector.
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. Precision Drillingrigs also remained active, with Precision 300 and Precision 153 contributing 15 and 12 records , respectively.
The slight recovery in drilling activity comes amid a challenging environment of fluctuating oil and gas prices, ongoing market uncertainties, and shifting priorities among energy companies. Despite the gradual decline in rig counts over the past two years, the U.S. Oil Rigs : Fell by 1 to 486 this week.
Key Processes: Exploration, reservoir analysis, drilling, well completion, and production. Assets: Upstream assets include oil and gas fields (land and mineral rights), drillingrigs, production platforms, and wells. Related Information Why invest in North American energy, and why now?
The Permian Basin is a hotbed of activity, always answering a relentless demand for output, and as experts look ahead, the infrastructure needed to accommodate surging output comes squarely into focus. He says the Permian Basin region has seen a couple of gigawatts of average growth.
Crude recently tumbled below $60 a barrel on fears that the trade war could weigh on energy demand, and after OPEC+ members decided to add production to a market that appears to be over-supplied. The company said last week that it discovered excellent quality oil at the Aram block in the deep-water Santos Basin.
Geographically, the New Mexico side of the Permian Basin seems smallonly five of the regions 54 counties are there. But those fivemainly Lea and Eddyaccount for 29 percent of the Basins total production, according to figures from the U.S. Energy Information Administration (EIA).
President Donald Trump’s push for American energy dominance. million bpd from 2025, according to the Energy Information Administration’s Short-Term Energy Outlook released Tuesday. But several shale companies have warned that weak oil prices would take a toll on output, with drillers including Diamondback Energy Inc.
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