Lakewood Energy has drilled its first well of 2026 in the Delaware Basin, expanding its activity into Loving County, Texas. The well, licensed on May 19, 2026, was drilled using Helmerich & Payne (H&P) Rig 486, highlighting the continued demand for high-spec drilling rigs in one of North America’s most active oil-producing regions.
The new well marks Lakewood Energy’s first reported drilling activity of 2026 following an active 2025 development program that included eight new wells across Reeves County. Since 2022, the privately held operator has drilled or permitted a total of 16 wells across Reeves and Loving Counties as it continues to develop its Delaware Basin acreage position.
Lakewood Energy Well Activity Since 2022
| Year | Wells Drilled/Permitted |
|---|---|
| 2022 | 7 |
| 2023 | 0 |
| 2024 | 0 |
| 2025 | 8 |
| 2026 | 1 |
| Total | 16 |
The company’s latest well was drilled in Loving County, representing a geographic expansion beyond its historical focus in Reeves County. The use of H&P Rig 486 demonstrates Lakewood’s continued investment in modern horizontal drilling operations targeting the prolific Wolfcamp and associated Delaware Basin formations.
Delaware Basin Development Continues
Lakewood Energy’s drilling program has focused on several project areas including State White Rock, State Sheridan, Providence, Blue Quail, Gray Hawk, and Barilla Draw. The operator’s acreage is positioned within the core Delaware Basin fairway where operators continue to pursue long-lateral horizontal wells designed to maximize recovery and capital efficiency.
Of the company’s 16 wells drilled or permitted since 2022, 15 are located in Reeves County and one is located in Loving County.
Service Company Opportunities
Lakewood’s continued drilling activity creates opportunities for oilfield service companies supporting drilling, completions, production operations, water management, artificial lift, and facility construction. Activity surrounding H&P Rig 486 may also generate demand for drilling fluids, directional drilling, cementing, solids control, fuel supply, and wellsite services.
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Author: phinds