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Geopolitical risks and regulatory overhangs (especially in key basins) are making capital allocation more conservative. The rig count is down 44% from its 2022 peak of 780 , reflecting both post-pandemic normalization and broader market hesitancy. Strategic Shift Toward Gas: Natural gas rigs are up 7 YoY , showing resilience.
The top posted job titles for May included maintenance technicians (118), retail cashiers (77), and sales associates (70). Almost all of the production growth has come from the Permian Basin region. Oil production has jumped this year after hitting a record 13.2 million bpd in 2024, 2 percent more than the previous record set in 2023.
Mach is entering the Permian Basin and San Juan Basin , complementing its existing Mid-Continent operations. Ward , CEO of Mach: “These acquisitions are transformative… we significantly enhance our scale and gain strategic multi-basin positioning, all while maintaining a resilient balance sheet.”
With a strong footprint in the Delaware Basin and a management team unafraid to act decisively, the remainder of 2025 looks poised to deliver focused growth. As the shale sector enters a new phase defined by capital discipline, consolidation, and operational innovation, Permian Resources Corp.
The Permian Basin and Texas, two of the most active drilling regions, also reported notable year-over-year declines, reflecting broader trends across the shale patch. July 14, 2025 U.S. drilling activity continues its downward slide, hitting its lowest level in nearly four years as operators scale back amid persistent market uncertainty.
Infra-red imaging can be used to estimate the height of solids inside the vessel (see Figure A) but is an inexact measurement and requires regular site visits by a skilled technician. Octopi in the Wild At the time of writing, over 150 Octopus units have been deployed across the Permian Basin. paraffins, waxes, and asphaltenes.)
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
Vaquero Midstream is ramping up its capabilities in the Southern Delaware Basin with two major infrastructure projects: a new 70-mile, 24-inch high-pressure pipeline loop and a 200 MMcf/d cryogenic processing plant near the Waha Hub.
The Permian Basin, in particular, saw a notable drop, reaching its lowest rig total since February 2022. While Oklahoma, New Mexico, and several other key states held steady in drilling activity, the national rig count dipped againdriven largely by a sharp decline in natural gas rigs.
Devon Energys first-quarter 2025 results reflect a disciplined, high-performance approach to drilling and capital deployment. With strong operational momentum, the company delivered above-guidance production and implemented early phases of its business optimization strategycutting capital while maintaining output.
Here’s a snapshot of the current landscape, key state-by-state trends, and what it means for 2025. Rig Count Drops Again But Production Still Forecast to Rise For the week ending May 16: U.S. bpd in 2024 to 13.4M bpd in 2025 Gas production: Expected to increase to 104.9 bpd in 2024 to 13.4M
This marks the first weekly decline in three weeks and puts the total rig count 29 rigs below the same period last year. Notably, the Permian BasinAmericas top oil-producing regionsaw a drop of three rigs, bringing its total to the lowest level since February 2022. Overall Rig Count : Total U.S. Overall Rig Count : Total U.S.
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. Those are among the questions being investigated by lawyer and UTPB Instructor Stuart MacDonald. Thats problem number one.
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. Regional Breakdown : Permian Basin : Declined by 1 rig to 300, down by 15 rigs compared to last year. March 24, 2025 The 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. March 10, 2025 The U.S. oil and gas industry saw a slight dip in drilling activity last week, as Baker Hughes reported a one-rig decline , bringing the total national rig count to 592.
The Permian Basin , the largest shale oil-producing region, lost two rigsbringing the total to 287, the lowest since December 2021. This puts the national rig count down 3% year-over-year and reflects a broader trend of moderated drilling activity. Key Takeaways: Oil rigs dropped by four to 479, while gas rigs edged up by two to 101.
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