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This trend reflects a cautious industry response to sustained price volatility, investor pressure, and a strategic pivot toward natural gas. With the total active rig count falling to 539—down 8 from the previous week and 46 below year-ago levels—states like Oklahoma are beginning to mirror the broader contraction.
Operators are leaning on efficiency gains and strategic capital deployment to sustain output with fewer rigs. May 19, 2025 As the U.S. 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.
Reducing Emissions and Enhancing Efficiency A major theme of the discussion was ExxonMobils commitment to sustainability and efficiency gains. With its newfound scale and technological advancements, the company is well-positioned to increase recovery rates, reduce operational costs, and drive long-term sustainable growth in the Permian.
producers, balancing capital discipline and shareholder returns with the need to sustain future output. However, industry leaders at CERAWeek warn that infrastructure constraints could pose long-term challenges. crude production to hit record highs for the next two years before plateauing later in the decade.
West Virginia remains a highlight , now operating 11 rigs , having sustained its rig addition from three weeks ago. Offshore drilling activity increased , with the rig count rising by one to 14. Oklahomas drilling activity was unchanged at 49 rigs , reflecting stable operations in the region.
On September 14, 2014, James Mays, a valve technician and an employee of Furmanite American (“Furmanite”) died while servicing valves on a platform that was part of Chevron’s gas gathering system and located in Louisiana’s territorial waters. In Pacific Operators Offshore, LLP v. Chevron Pipe Line Co. 207, 222 (2012). of the award.
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