According to the latest Baker Hughes report, the total number of active rigs fell by 4 to 559, the lowest level since November 2021. Oil rigs drove the decline with a loss of 9, while gas rigs rebounded with a gain of 5. Several major basins, including the Permian and Eagle Ford, recorded new lows.
Formed in 2023 and backed by Bayswater Management, Tejon Treating & Carbon Solutions is rapidly establishing itself as a cornerstone in the Permian Basin’s sour gas infrastructure landscape. As operators push deeper into H₂S-rich zones in West Texas, existing infrastructure struggled to keep pace—until Tejon entered with a mission: gather, treat, and responsibly manage sour gas where others couldn’t.
From January to June 2025, new well permits jumped by over 50% compared to the same period in 2024. This surge comes despite volatile natural gas prices, signaling rising operator confidence that LNG exports will transform the market heading into 2026.
The U.S. oil and gas sector has defied the odds for over a decade—unlocking shale, scaling production, and securing global energy influence. But that growth engine may be running out of steam. According to Occidental Petroleum CEO Vicki Hollub, unless the industry embraces artificial intelligence and carbon capture technologies on a larger scale, domestic oil output could hit a production plateau as early as 2027.
In a strategic move within Texas’s oil and gas sector, Scout Energy Management LLC has transferred 315.77 miles of unregulated gas pipelines in Hutchinson and Moore counties to High River Resources LLC, as approved by the Texas Railroad Commission (RRC). This transaction not only highlights the dynamic nature of asset management in the energy industry but also underscores the complementary strengths of both companies and the significance of the regions involved.
the Permian accounts for more than half of all Lower 48 onshore oil production, with key plays like Wolfcamp, Spraberry, and Bone Spring leading the charge. This report outlines the production trends, regional comparisons, and economic drivers behind the Permian’s rise as the cornerstone of American energy.
New well permits in the Eagle Ford for Jan–June 2025 are down 6.6% compared to the same period in 2024, reflecting a moderate pullback in drilling activity. The decline suggests operators are exercising price discipline, focusing on efficiency, margin protection, and capital restraint rather than aggressive growth.
CNRL’s “drill-to-fill” strategy refers to its approach of drilling new wells primarily to maintain or maximize facility and infrastructure utilization, rather than for aggressive production growth. This strategy is designed to optimize existing assets such as pipelines, processing plants, and upgrader capacity.
Despite soft prices and global market uncertainty, the province set a new April production record at 4 million barrels per day—up 2% from last year. Oil sands drove the gains, accounting for 84% of total output, while natural gas volumes also edged higher. With added takeaway capacity from TMX and LNG exports on the horizon, production momentum looks set to continue—though wildfire risks and cautious capital spending remain key variables.
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
