ExxonMobil remains the top drilling operator in U.S. and Permian Basin, as of March 7 according to Enverus, and Helmerich & Payne is the top contractor in U.S.  In Permian Basin, the latest weekly average for Exxon was 35.1 rigs followed by Occidental with 24.9, EOG with 16.0, Mewbourne with 15.9, ConocoPhillips with 14.6, Diamondback […]

Rig count in Permian Basin declined for the second straight week, according to the weekly report of March 14 from Baker Hughes.  There were 301 active drilling rigs in Permian Basin – down 3 from the previous week and down 4 from the 2025 high of 305 on Feb. 28.  The count was unchanged in […]

Houston-based EOG Resources said recently its 2025 capital program includes “steady year-over-year activity levels” in Delaware Basin with increased activity in Utica and Dorado plans.  EOG said Feb. 27 in its quarterly report, “The plan delivers 3 percent oil volume growth and 6 percent total volume growth through the drilling and completion of 605 net […]

Houston-based Archrock, energy infrastructure company with focus on midstream natural gas compression, said last week it is acquiring Natural Gas Compression Systems in a cash-and-stock transaction valued at $357 million ($298 million cash).  NGCS is a provider of natural gas compression equipment and services used in production and transportation of natural gas. Brad Childers, president […]

The Woodlands-based Ring Energy said last week it divested non-core vertical wells with high operating costs for $5.5 million.  Paul D. McKinney, chairman and CEO, said March 6, “We intend to maintain or slightly grow our production through our organic drilling program and grow through accretive, balance sheet enhancing acquisitions of assets that meet specific […]

Houston-based Evolution Petroleum said last week it agreed to acquire non-operated oil and natural gas assets in New Mexico and Louisiana for $9 million.  Closing is expected in 3Q.  Kelly Loyd, president and CEO, said March 4 the deal strengthens Evolution’s production base “by adding high-quality, low-decline production at an attractive valuation… These assets complement […]

U.S. Energy Information Administration said last week the number of rigs deployed to drill for natural gas declined over the last two years.  U.S. natural gas-directed rigs decreased 32 percent between December 2022 and December 2024.  EIA said March 4 the decline was concentrated in Haynesville and Appalachia, where gas rigs declined by a combined […]