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
Rig Activity Down, Production Up – May Rig Count Recap – Baker Hughes
Strathcona Sells Montney Assets for $2.84B — Pure-Play Canadian Heavy Oil Focus
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 Expands in Andrews County Again as Chord Energy Transfers Facility to Ring
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.
Occidental’s 2025 Strategy:Permit Growth Defies Budget Cuts
Despite reducing its full-year capital expenditure guidance by $200 million and cutting domestic operating costs by $150 million in Q1 2025, Oxy continues to maintain — and even expand — its drilling footprint in the Permian Basin.
Occidental and ADNOC Partner on $500M South Texas DAC Hub — A Big Bet on U.S. Carbon Capture
Occidental (NYSE: OXY) and ADNOC’s investment company, XRG, are teaming up to evaluate a $500 million joint venture for a Direct Air Capture (DAC) facility in South Texas. The project aims to capture 500,000 tonnes of CO2 per year, advancing DAC as a scalable solution for emissions reduction.
Urban Oil & Gas Updates Texas Pipeline Permit Across Jim Wells, Kleberg & Nueces Counties
Urban Oil & Gas Group, LLC, a Plano, Texas-based energy investment firm, has recently secured a renewed pipeline operation permit from the Railroad Commission of Texas. This permit, effective until July 31, 2025, authorizes the company to operate 65.54 miles of natural gas gathering pipelines across Jim Wells, Kleberg, and Nueces counties.
Top 5 Trends Shaping U.S. Oil & Gas in 2025
U.S. oil and gas executives aren’t just reacting to the market—they’re actively redefining it. In Q1 2025 earnings calls, top influencers like Darren Woods (ExxonMobil), Ryan Lance (ConocoPhillips), and Vicki Hollub (Oxy) revealed how operators are navigating volatility, driving efficiencies, and expanding into new, high-margin markets.
Diamondback Energy’s Strategy Shift:Q12025 decline of 150 well permits
Volatility in commodity markets isn’t just a headline—it shows up in real-world decisions, drilling schedules, and permitting activity. A clear example of this came in Diamondback Energy’s Q1 2025 earnings report, where the company signaled a pivot in response to recent price swings
From Wellhead to Server Rack: How Oil & Gas Operators Are Powering the AI Era
As AI-driven data centers rapidly proliferate, the oil and gas industry is seizing a new opportunity—not just as energy suppliers, but as key enablers of power-hungry digital infrastructure. From West Texas to global LNG markets, top U.S. operators are embracing strategic partnerships, low-carbon innovation, and diversified energy solutions to meet rising demand from hyperscalers and industrial tech players. The Permian Basin may soon become ground zero for the convergence of hydrocarbons and high-performance computing.
Navigating Volatility — Shale Strategy in volatile market
In today’s volatile energy landscape, shale operators are leaning into a familiar playbook—one forged through cycles of boom, bust, and adaptation. With WTI prices hovering around $60, executives across the U.S. oil patch are recalibrating operations and capital plans while reaffirming confidence in their long-cycle strategies built on cost discipline and optionality.
