Patterson-UTI Energy Inc. (NASDAQ: PTEN) is making strategic moves in this space, leveraging its expertise in mobile power generation to support oilfield operations and capture new opportunities in power services.
The latest Baker Hughes report shows that the U.S. rig count increased by 4 rigs this week, bringing the total to 586. This marks the second consecutive week of gains, following a rise of 6 rigs last week.
The oil & gas industry is navigating a period of transformation. While drilling activity has declined, production efficiency has reached unprecedented levels. Companies are adapting by focusing on cost control, advanced drilling techniques, and optimized completions to maintain profitability and maximize resource recovery.
The Marathon Oil acquisition is more than just a bolt-on asset purchase—it is a transformational deal for ConocoPhillips’ Lower 48 operations. Marathon Oil’s assets complement ConocoPhillips’ existing holdings in key U.S. shale basins
Patterson-UTI Energy (NASDAQ: PTEN) recently released its Q4 2024 earnings, providing valuable insights into the state of the U.S. oil and gas industry. Despite reporting a net loss for the quarter, the company remains bullish on long-term natural gas demand, drilling efficiency improvements, and expanding natural gas-powered frac fleets.
The midstream sector of the energy industry is home to an exclusive group of companies that dominate the transportation, processing, and export of natural gas liquids (NGLs). Dubbed the “NGL Wellhead-to-Water Club,” these companies control the entire value chain, from extraction at the wellhead to delivery at export terminals. This level of integration allows them to operate more efficiently, capture value at multiple points, and meet the increasing global demand for NGLs.
Helmerich & Payne, Inc. (NYSE: HP), a leading drilling contractor, reported its first-quarter fiscal 2025 results, shedding light on steady U.S. rig activity despite broader industry uncertainties. While the company’s net income and revenue declined slightly from the previous quarter, its North America Solutions (NAS) segment remained resilient, showcasing consistent performance and efficiency gains.
In the ever-evolving oil and gas industry, the role of a Drilling Consultant is more critical than ever. As drilling operations become increasingly complex, companies rely on experienced professionals to oversee projects, ensure safety, and optimize performance. Drilling Consultants bring years of field expertise, problem-solving skills, and leadership to the job, making them an indispensable part of any successful drilling program.
ONEOK and MPLX’s decision to invest in a $1.4 billion liquefied petroleum gas (LPG) export terminal in Texas City aligns with growing global demand for propane and butane, especially in Asian and European markets.
The Permian Basin continues to attract significant investment, with US Energy Development Corporation (USEDC) announcing plans to deploy up to $1 billion in operated and non-operated oil and gas projects throughout 2025. This marks a substantial increase from the company’s $800 million investment in 2024 and underscores its confidence in the region’s strong drilling economics.
