The factory model isn’t just a tactic—it’s a transformation. The Texas drilling chart reflects more than numbers. It shows that U.S. shale’s greatest strength is its ability to sustain output predictably and efficiently. This matters not only for domestic energy stability, but also for global trade, emissions reduction, and long-cycle investment.
The Permian Basin continues to reshape its operator landscape. In a notable development, ConocoPhillips has transferred 33 air permits to U.S. Energy Development Corporation (USEDC), marking a strategic pivot for both companies. The permits—filed under the Texas Commission on Environmental Quality (TCEQ)—cover key batteries and wellsites concentrated in Reeves County, including operations near Barstow and Pecos.
The Permian Basin Well Permits is a compiled list of well permits in the Permian Basin, one of the most prolific oil and gas-producing regions in the United States. The reports include new well permits last 30 days, current year and previous year.
The Permian Basin, the beating heart of U.S. shale oil production, is experiencing a notable contraction in drilling activity this spring. Based on a combination of historical data and AI-driven time series forecasting, well permit volumes from March through May 2025 are expected to total approximately 1,790 permits — a sharp decline from the 2,304 permits issued during the same period in 2024.
For over a decade, the U.S. shale revolution was defined by volatility—surging production followed by crashes, layoffs, and bankruptcies. But today, a quieter transformation is underway. U.S. shale is becoming less of a wildcat business and more like a disciplined, high-efficiency manufacturing system.
In its Q1 2025 earnings call, STEP Energy Services confirmed the formal termination of its U.S. fracturing division—marking a significant shift in the company’s operational focus. This decision follows several quarters of underperformance in the U.S. market, including a CAD 32 million net loss in Q4 2024 and an additional…
U.S. total rig count: ↓ 2 to 576 — the lowest since January
Oil rigs: ↓ 1 to 473 (lowest since Jan)
Gas rigs: ↓ 1 to 100
Misc rigs: unchanged at 3
Offshore rigs: stable at 11
The United States Rig Report is a detailed list of drilling rigs active in the US last 30 days, one of the most prolific oil and gas-producing regions in the world.
In a bold move to streamline its portfolio and sharpen its focus, Strathcona announced the sale of its Montney assets for $2.84 billion. This transformational transaction accelerates Strathcona’s strategy to become a pure-play heavy oil producer, while unlocking value and maintaining financial flexibility.
Ring Energy’s facility acquisitions, revealed through TCEQ permit transfers, underscore its strategic expansion in Andrews County. As Chord Energy refocuses on the Williston Basin, Ring consolidates CBP assets to drive low-cost, margin-rich growth. These regulatory transfers aren’t just formalities — they’re indicators of who’s doubling down and who’s cashing out in the Permian Basin.
