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The top posted job titles for May included maintenance technicians (118), retail cashiers (77), and sales associates (70). In May, Texas energy producers paid $411 million in oil production taxes, according to the Texas comptroller’s office. Almost all of the production growth has come from the Permian Basin region.
energy sector grapples with shifting market dynamics, the latest Baker Hughes rig count highlights a continued decline in drilling activity nationwide. In this report, we break down the latest rig count data, state-level trends, and the implications for drilling, production, and the energy services sector. July 7, 2025 As the U.S.
Through definitive agreements to acquire oil and gas assets from Sabinal Energy, LLC and IKAV Energy Inc. Mach is entering the Permian Basin and San Juan Basin , complementing its existing Mid-Continent operations. Mach Natural Resources LP has announced two major acquisitions totaling $1.3
CERAWeek 2025 Insights ExxonMobils expansion in the Permian Basin took center stage during CERAWeek 2025 , where executives highlighted how technology is reshaping operations to maximize efficiency and production. million barrels per day (bpd) accounting for over 16% of the basins total production. energy production, contributing 6.26.3
Devon Energys first-quarter 2025 results reflect a disciplined, high-performance approach to drilling and capital deployment. Final Takeaway Devon Energys Q1 2025 update tells a clear story: more wells, less spending, and stronger execution. per Boe, total production cost at $12.42 per Boe, total production cost at $12.42
The Permian Basin is seeing output contraction and rig pullback despite being the top U.S. With market volatility likely to persist, timely rig data and operational insights will be critical for staying ahead in todays dynamic energy landscape. million bpd ( from 6.57 million bpd ( from 6.57 oil-producing region.
Year-over-year, the rig count is down 37 rigs (6%) , as energy firms continue prioritizing capital discipline, shareholder returns, and efficiency over aggressive expansion. LNG & Power Demand: Soaring LNG exports and growing data center energy consumption are driving record gas demand. Meanwhile, the EIA projects record-high U.S.
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. Energy Information Administration (EIA) projects continued growth in both crude oil and natural gas output throughout 2025. million bpd in 2024.
drilling activity showed a modest rebound this week, with energy firms adding rigs for the second consecutive week the first such streak since February 2025. and Canadian energy firm spending outlook to a low double-digit decline , worse than their previous mid-single digit forecast. April 28, 2025 U.S.
Gas drilling activity could increase in response to a projected rise in gas prices, potentially benefiting gas-heavy basins like the Marcellus and Haynesville. Additionally, global demand, infrastructure investments, and geopolitical factors will continue to shape the trajectory of the energy sector.
The old saying about change and things staying the same may itself need to change, especially in the energy sector. A third issue for him is that, in basins like the Permian, CCUS projects inject into oil formations that are no longer viable for productionat least, not with todays technology and pricing. Long-term U.S.
energy firms trimmed the number of active oil and gas rigs, signaling caution amid persistent price pressures and policy uncertainty. The Permian Basin , the largest shale oil-producing region, lost two rigsbringing the total to 287, the lowest since December 2021. May 5, 2025 For the first time in three weeks, U.S.
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