article thumbnail

ExxonMobil’s Permian Basin Strategy: How Technology is Driving Efficiency and Growth

Oil Gas Leads

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

Basin 52
article thumbnail

Vaquero Midstream Expands Delaware Basin Footprint with New Pipeline Loop and Cryogenic Plant

Oil Gas Leads

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.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Largest Weekly Oil Rig Drop Since 2023 – Baker Hughes

Oil Gas Leads

The Permian Basin is seeing output contraction and rig pullback despite being the top U.S. million bpd ( from 6.57 million bpd in March) Macro Commentary This marks the third consecutive weekly decline in rig activity, driven by oil price pressures and a strategic shift by operators toward shareholder returns over production growth.

Oil 75
article thumbnail

Permian Activity Drops to 2-Year Low – Baker Hughes

Oil Gas Leads

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.

Basin 52
article thumbnail

Devon Energy Q1 2025 Drilling Review: Rig Count, Efficiency, and Regional Shifts

Oil Gas Leads

What Devon Said About Drilling, Rigs, and Completions Devons capital activity in the first quarter averaged 23 operated drilling rigs and 6 completion crews… 136 gross operated wells were placed online, with an average lateral length of 10,700 feet. per Boe, total production cost at $12.42

article thumbnail

Rig Activity Down, Production Up – May Rig Count Recap – Baker Hughes

Oil Gas Leads

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 bpd in 2025 Gas production: Expected to increase to 104.9

article thumbnail

US Rig Count Steady at 592, Oil Up 1, Gas Down 1 – Baker Hughes

Oil Gas Leads

crude production to hit record highs for the next two years before plateauing later in the decade.

Gas 52