Oklahoma’s drilling story right now isn’t about acceleration or decline — it’s about consistency.
According to the latest Baker Hughes data, Oklahoma’s rig count held flat at 46 rigs week-over-week. While total U.S. rig activity moved higher, Oklahoma did not participate in those gains. No basin-specific or commodity-driven catalysts were cited in the report — just a simple characterization: flat and stable.
That stability stands out when compared to nearby states. Texas added six rigs during the same period, underscoring a divergence in activity trends. Oklahoma, by contrast, continues to operate in a steady-state drilling posture.
What This Means
The lack of movement isn’t a negative signal. If anything, it points to operator discipline. Oklahoma producers appear to be maintaining planned programs rather than reacting to short-term price signals or expanding aggressively. This is drilling as execution — not speculation.
Who’s Drilling: YTD Spuds by Operator and Rig
Looking at year-to-date spud data, activity is concentrated among a handful of operators — and even more tightly concentrated among contractors.
Top Oklahoma Operators (YTD Spuds)
- Validus Energy — 9 spuds
- Camino Natural Resources, LLC — 5 spuds
- Mewbourne Oil Company — 5 spuds
- Continental Resources — 5 spuds
- Calyx Energy, LLC — 3 spuds
Top Contractor & Rig Combinations
Validus Energy
- H&P 388 → 3 wells
- H&P 300 → 2 wells
Camino Natural Resources
- Cactus 154 → 2 wells
- Cactus 160 → 1 well
Mewbourne Oil Company
- Latshaw 15 → 1 well
- Patterson 287 → 1 well
Continental Resources
- Cactus 170 → 2 wells
- H&P 544 → 1 well
Calyx Energy
- Cactus 412 → 3 wells
What the Rig Mix Tells Us
A few patterns are hard to miss:
- H&P and Cactus dominate contractor exposure across the most active Oklahoma operators, reinforcing their position as core drilling partners in the state.
- Validus Energy’s repeat use of H&P rigs points to program continuity rather than one-off activity — a signal of stable development planning.
- Calyx Energy’s single-rig concentration suggests a tightly controlled cadence, likely focused on execution efficiency rather than scale.
Bottom Line
Oklahoma is in a holding pattern — by design.
With rig counts flat, contractor relationships stable, and drilling activity concentrated among disciplined operators, the state reflects a mature, program-driven development model. While other regions chase incremental growth, Oklahoma continues to emphasize consistency, capital discipline, and operational control.
For service companies and suppliers, that means fewer surprises — but clearer signals. This is a market where understanding who is drilling, with which rigs, and how consistently matters more than chasing headline rig count changes.
