U.S. rig activity increased modestly this week, rising from 574 to 581 active rigs, with growth led by the Permian Basin and Oklahoma’s Anadarko play. The report identified 25 new operators not present in last week’s snapshot, highlighting fresh business development opportunities while overall drilling activity remains concentrated in the industry’s most economic regions.
Continental Resources is transitioning from a completed pilot pad to a fully permitted, multi-pad Wolfcamp development in Winkler County, with infrastructure already approved ahead of drilling. With 10 wells not yet drilled and facilities in place, the project is entering a near-term execution phase, signaling an active window for development and vendor engagement.
Top Montney operators are delivering a consistent message: land is secured, inventory depth spans decades, and drilling efficiency continues to improve — meaning supply is not constrained by geology or acreage. The real limitation is market access, not resource availability, which is why LNG and takeaway expansion are critical to unlocking the basin’s full long-term value.
Permian (Basin) still has enough additional oil to develop that will continue to grow over the next few years – Vicki Hollub
Enbridge, in partnership with Spectrum Resource Group, is proud to employ these goats for the first time on our natural gas pipeline system in BC, to ensure our rights-of-way are cleared of invasive plant species.
SM expects to drill approximately 22 net wells, of which 10 are planned for South Texas and 12 are planned for the Midland Basin, and turn-in-line approximately 28 net wells, of which 11 are planned for South Texas and 17 are planned for the Midland Basin.
Ovintiv Inc.announced this week the completion of its $4.2 billion acquisition of core Midland Basin assets in West Texas.
Oxy Wolfcamp horizon with a single well generating a 30-day initial production rate of 6,500 barrels per day
Total expenditures for 2023 are expected to range from $5.8 to $6.2 billion. EOG Resources, Inc., ranks #2 in wells drilled in 2022 with 471 wells drilled in the Mid Continent of the US
937 wells drilled in Oklahoma in 2022.
