The first quarter of 2025 in the Dealaware Basin kicked off with a significant uptick in oil and gas drilling activity across North America. Based on recent permit and rig activity data, the industry saw an 18.9% increase in drilling records compared to the same period in 2024.
The start of 2025 brought noticeable shifts in drilling and permit activity in the Midland Basin oil and gas sector. A look at Q1 2024 versus Q1 2025 reveals a 21.4% drop in overall activity, with counts falling from 821 records in 2024Q1 to 645 in 2025Q1. This decline suggests a more conservative approach among operators entering the new year—possibly driven by market volatility, shifting commodity prices, or capital discipline strategies.
The first quarter of 2025 saw a notable slowdown in oil and gas drilling activity compared to the same period in 2024. Based on licensing and rig activity records, Q1 2025 recorded 331 wells, a 21.6% decrease from 422 wells in Q1 2024.
As the first quarter of 2025 wraps up, we’re seeing a noticeable uptick in drilling activity compared to the same period last year. Based on activity records, Q1 2025 saw a 23.5% increase in total record count over Q1 2024 — jumping from 170 to 210 entries. This surge points to a rebound in operational momentum and likely reflects stronger commodity prices and improved drilling economics.
This week’s rig count reflects a market in transition—steady oil drilling in some regions, sharp pullbacks in gas, and an overall trend of strategic restraint by operators. With the Permian Basin hitting a two-year low in rig activity and gas drilling at its weakest point since late 2024
The United States Oil Companies Directory is a compiled directory of oil & gas companies operating in the entire US, one of the most prolific oil and gas-producing regions in the world.
Devon Energy holds 90,000 net acres in the Eagle Ford and produced 75 MBOED in Q4 2024, making up 11% of its total production. The company is taking full operatorship of the Blackhawk Field in April 2025 to improve returns and lower well costs, especially in DeWitt County. For 2025, Devon plans to reduce its rig count from 4 to 2 and spend $0.5 billion on capital in the region.
In 2024–2025, ConocoPhillips Company has led the way with 154 wells drilled, far outpacing other operators. Devon Energy and EOG Resources followed with 45 and 25 wells respectively, showing strong, targeted development strategies. Notably, Murphy Exploration and 1776 Energy Operators have also been active, contributing to a total of hundreds of new wells drilled across the county.
Vital Energy has officially acquired the Copperhead 23 1H oil and gas battery in Reeves County, Texas, from Red Willow Production, LLC. The transfer, finalized through the Texas Commission on Environmental Quality (TCEQ), was recorded on April 1, 2025, as part of an Air New Source Review (NSR) Change of Ownership project.
The United States Oil Companies Directory is a compiled directory of oil & gas companies operating in the entire US, one of the most prolific oil and gas-producing regions in the world.
