The U.S. oil and gas drilling sector continues its downward trend as the Baker Hughes rig count fell for the ninth consecutive week, marking the longest streak of declines since mid-2020. For the week ending June 28, 2025, the total active rig count dropped by 7 to 547 — a 6% decline year-over-year.
As we approach the second half of 2025, EOG Resources (NYSE: EOG) is positioning itself for another year of resilient performance through disciplined capital allocation, basin diversification, and continued operational innovation.
Devon Energy (NYSE: DVN) has made bold moves this year—balancing capital discipline with growth, boosting drilling efficiency, and unlocking new natural gas revenue streams. As we move through the second half of 2025, here are the top 5 trends shaping Devon’s momentum.
Halliburton, a name synonymous with oilfield services, is charting new territory—this time in the world of battery metals. The company has been awarded a contract by GeoFrame Energy to lead planning and design for a geothermally-powered lithium extraction project in Mt. Vernon, Texas.
In a shift that reflects renewed confidence in the oil market, Coterra Energy CEO Tom Jorden announced the company will maintain nine active rigs in the Permian Basin, backing away from previously announced plans to scale down operations. This update, shared during the J.P. Morgan Energy, Power & Renewables Conference, comes as macro conditions stabilize and crude price outlooks improve.
At the JPMorgan Energy, Power, Renewables & Mining Conference on June 24, 2025, Devon’s CEO Clay Gaspar pushed back on peak Permian concerns
ConocoPhillips has brought its Zia Hills Central Facility 2 (CF2) online in the Delaware Basin.
SLB (NYSE: SLB) and Cactus Drilling, the largest privately held U.S. land driller, have entered a strategic collaboration to accelerate adoption of automated and autonomous drilling technologies across Cactus’ rig fleet.
ConocoPhillips, one of the world’s largest independent E&P companies, is undergoing a significant transformation in 2025. From major acquisitions to innovative drilling practices and new energy demand trends, the company is actively repositioning itself for long-term resilience.
LNG Canada, the landmark export facility led by Shell in partnership with Petronas, PetroChina, Mitsubishi, and Kogas, has announced its first liquefied natural gas (LNG) production from Train 1 (5.6 mtpa) at its terminal in Kitimat, British Columbia.
