New drilling activity is often one of the earliest indicators of future spending opportunities across the oil and gas sector. This week’s review highlights operators that have either filed their first well permit of the year or recorded their first wells drilled year-to-date, signaling potential growth plans and upcoming demand for drilling, completions, production, and field services.
The list includes a mix of emerging independents, private-equity-backed operators, and established public companies active across the Permian Basin, Anadarko Basin, and other mature producing regions. While several operators maintain relatively small producing portfolios, their recent permitting and drilling activity suggests renewed capital deployment and field development initiatives worth monitoring.
For service companies, suppliers, and business development professionals, these operators represent potential opportunities to engage companies that are actively investing in new projects and expanding their operational footprint.
Here’s a more concise and consistent version of the operator summaries suitable for a market intelligence report, newsletter, or sales intelligence update:
Operators Showing First Well Permit or First Wells Drilled Activity YTD
FBF Energy LLC
FBF Energy LLC is a privately held oil and gas operator headquartered in Tulsa, Oklahoma. The company focuses on acquiring and managing mature producing assets across several Oklahoma counties and operates approximately 491 wells, including roughly 372 producing wells. FBF Energy maintains a strong presence in legacy conventional oil and gas fields and is considered a small-to-mid-sized independent operator.
II RAD Exploration, LLC
II RAD Exploration, LLC is a privately held exploration and production company focused on acquiring and developing upstream assets in U.S. onshore producing regions. Publicly available well data is limited, but industry sources indicate the company operates a relatively small portfolio of producing wells, primarily within mature oil and gas properties.
TAUY Oil, Inc.
TAUY Oil, Inc., headquartered in Baldwin City, Kansas, is an independent producer focused on mature conventional oil assets in Douglas County and surrounding areas. The company operates approximately 29–40 producing wells and has generated more than 89,000 barrels of cumulative oil production from legacy Kansas oil fields.
Tri-Star OpCo, LLC
Tri-Star OpCo, LLC is a privately held operator focused on managing and producing conventional upstream oil and gas assets. Industry databases indicate the company operates approximately 70 wells, primarily consisting of mature producing properties. Its business strategy appears centered on optimizing existing production rather than pursuing large-scale drilling programs.
Riley Exploration Permian, Inc. (NYSE American: REPX)
Riley Exploration Permian is an Oklahoma City-based independent oil and natural gas producer focused on the Permian Basin of West Texas and New Mexico. At year-end 2024, the company held approximately 58,270 net acres and 612 net producing wells, generating average production of 22,546 BOE/d. Riley continues to advance horizontal development programs targeting the San Andres and Yeso formations.
1920 Energy LLC
1920 Energy LLC is a privately backed independent operator focused on natural gas-rich assets in the Delaware Basin, particularly in Reeves and Culberson counties, Texas. The company operates approximately 32 wells, including about 15 producing wells, and has participated in several Permian Basin development projects, including the Corsair, Liberator, Mustang, Fortress, Marauder, and Tomahawk units.
Anthem Energy Operating (Oklahoma) LLC
Based in Tulsa, Oklahoma, Anthem Energy Operating focuses on development opportunities within the Anadarko Basin. The company currently operates approximately eight wells, including producing, drilled, and permitted locations, with activity concentrated in Custer County. Recent efforts have focused on horizontal development projects and expanding its producing asset base.
Axia Energy III, LLC
Axia Energy III is a privately held Denver-area oil and gas company specializing in resource play development through geological analysis, completion optimization, and operational efficiency. Current activity is concentrated in Oklahoma’s Anadarko Basin, where the company operates approximately 17–18 wells, including active producers and recent development projects in Major County.
Key Takeaway
This week’s new entrants and emerging operators are primarily small-to-mid-sized independents focused on mature conventional assets, Anadarko Basin development, and Delaware Basin natural gas opportunities. Riley Exploration Permian stands out as the largest operator in the group, while companies such as Anthem Energy, Axia Energy III, and 1920 Energy represent active growth-oriented independents pursuing new drilling programs in established U.S. resource plays.
Author: phinds