After reviewing Q3-2025 earnings calls and year-to-date drilling performance across the Delaware Basin, one theme stands out: The Delaware Basin is drilling faster, deeper, and smarter than at any time in its history. Cycle times are falling, lateral lengths are growing, automation is becoming standard, and the top operators are separating from the pack in terms of efficiency, well costs, and multi-bench execution.
This blog summarizes what each major Delaware Basin operator said about their drilling programs—and compares it directly with their actual wells drilled YTD from your dataset.
1. Coterra Energy: Standardization + Steady Performance
Rig Program & Strategy
Coterra is running a consistent 9-rig program in the Permian, keeping activity level steady into 2026.
Drilling Efficiency Gains
- Cut 2-mile lateral drill times from 15 → 13 days
- Gains driven by:
- Standardized hole sizes
- Standardized casing designs
Performance Snapshot (YTD)
- 200 wells drilled
- Average TD: 12,387 ft
- Longest well: 22,803 ft
- Avg. days between wells: 17.0 days
Takeaway:
Coterra is a model of consistency. They aren’t the fastest driller in the Delaware, but standardization is paying off in predictable, repeatable cycle time improvements.
2. Devon Energy: AI-Driven Drilling & New Performance Records
Devon emphasized efficiency over raw activity, noting they will drill 20 fewer wells in 2025 despite maintaining production.
Key Q3-2025 Themes
- New Delaware drilling record of 1,800 ft/day
- AI-powered drilling optimization
- Improved tripping and curve-drilling performance
- Wolfcamp B is a major focus area (30% of inventory)
Performance Snapshot (YTD)
- 234 wells drilled
- Average TD: 12,351 ft
- Maximum: 23,983 ft
- Avg. days between wells: 16.1 days
- Dominant rig provider: Helmerich & Payne, including three rigs that drilled 63 wells combined.
Takeaway:
Devon is one of the most technically sophisticated drillers in the Delaware, using AI and automation to push speed gains without increasing rig count.
3. EOG Resources: High-Intensity Completions + New Motor Technology
EOG continues to outperform both on well productivity and cost.
Key Themes
- Wells performing on or above type curve
- Lateral lengths up 20%
- Well costs down 15%+ over two years
- New custom EOG drilling motors are boosting ROP
- Real-time optimization and high-intensity completions are now standard
Financial & Operational Impact
- Many new Delaware wells deliver 100%+ ROR with <1-year paybacks
Takeaway:
EOG remains unmatched in technical execution. Their focus on custom tools and completion intensity is driving basin-leading returns.
4. Matador Resources: Ultra-Long Laterals & Single-Provider Strategy
Matador is running a 7-rig drilling program through 2026 and appears committed to long-reach development.
Key Themes
- Heavy use of multi-mile laterals
- Delaware program driven by Wolfcamp + Bone Spring
- Large pad development strategy
Performance Snapshot (YTD)
- 137 wells drilled
- Sole drilling provider: Patterson
- Average TD: 12,952 ft
- Max TD: 26,912 ft (one of the longest in the entire basin)
- Avg. days between wells: 21.1 days
Takeaway:
Matador drills extremely long and deep wells, which naturally stretch cycle times. Their all-Patterson fleet suggests tight operational consistency, even if not the fastest.
5. Occidental (Oxy): Fastest Drilling Cadence in the Delaware
Oxy reported 10 rigs active in the Lower 48, with the majority in the Permian.
Q3-2025 Drilling Themes
- Faster drilling speeds
- Lower NPT
- AI and automation integrated into workflows
- 30+ years of remaining high-return inventory
Performance Snapshot (YTD)
- 290 wells drilled
- Average TD: 12,009 ft
- Max: 19,556 ft
- Avg. days between wells: 14.35 days – fastest of all major operators
- Highly diversified rig fleet: H&P, Citadel, Unit
Takeaway:
Oxy is the most time-efficient driller in the Delaware. Their mixed fleet and strong pad execution give them the lowest well-to-well interval.
6. Permian Resources: Ultra-Deep, Ultra-Fast, and Aggressively Efficient
Permian Resources is positioning itself as one of the basin’s most efficient drillers.
Cost & Technology Wins
- $7.25/ft drilling cost—industry leading
- Strong adoption of 2- and 3-mile laterals
- Early 3-mile well results match 2-mile wells, at lower per-foot cost
- ~10 U-turn (J-hook) wells drilled for constrained DSUs
- New drill-out technique cutting days and cost materially
Performance Snapshot (YTD)
- 233 wells drilled
- Average TD: 13,216 ft
- Max TD: 26,093 ft
- Avg. days between wells: 15.1 days (2nd fastest behind Oxy)
- Primary rig partner: H&P
- Operating across 29 unique fields — most diversified acreage set among operators
Takeaway:
Permian Resources combines deep, long wells with fast cycle times—one of the strongest operational combinations in the basin.
7. ExxonMobil / XTO: AI, Proppant Innovation & High-Speed Drilling
Exxon did not disclose rig count, but made it clear that:
Permian = core growth engine, with combined Pioneer + XTO production reaching 1.7 MMboe/d.
Technology Innovations
- AI-enhanced drilling & geosteering
- Lightweight refinery-coke proppant
- +20% recovery uplift
- Will be used on 50% of wells by 2026
- Cube development improves EUR
- Discovery 6 supercomputer accelerates seismic processing
Performance Snapshot (XTO Wells YTD)
- 246 wells drilled
- Average TD: ~10,500 ft
- Max TD: 26,581 ft (one of the longest in the Delaware)
- Avg. days between wells: 14.2 days (tied with Oxy as fastest overall)
- Highly concentrated H&P fleet
Takeaway:
XTO is a stealth efficiency leader—fast, standardized, and increasingly powered by AI and next-generation proppants.
Delaware Basin Operator Rankings (YTD 2025)
Fastest Drillers (Cycle Time)
- Oxy – 14.3 days
- XTO – 14.2 days
- Permian Resources – 15.1 days
- Devon – 16.1 days
- Coterra – 17.0 days
- Matador – 21.1 days
Deepest / Longest Wells
- Matador – 26,912 ft
- XTO – 26,581 ft
- Permian Resources – 26,093 ft
- Devon – 23,983 ft
- Coterra – 22,803 ft
Technology Leaders
- Devon: AI-driven drilling optimization
- EOG: Custom motors + high-intensity completions
- Exxon/XTO: AI + coke proppant + cube development
- Oxy: Automation + NPT reduction
- Permian Resources: New drill-out techniques + ultra-long ERLs
Conclusion: The Delaware Basin is Entering a New Performance Frontier
Across all operators, the Delaware Basin is demonstrating:
- Faster drilling speeds
- Longer laterals (2–3 miles becoming standard)
- Expanded use of automation, AI, and real-time optimization
- Lower well costs, especially on a per-foot basis
- Greater multi-bench, multi-zone development
The competitive gap between operators is widening.
Those who invest in automation, standardization, and drilling innovation—Devon, Oxy, Permian Resources, EOG, and XTO—are pulling ahead in efficiency, cycle time, and returns.
Matador and Coterra continue to deliver strong results through consistency and long-reach drilling programs.
The Delaware Basin remains the most technically advanced drilling theater in North America—and 2026 will likely push drilling limits even further.
