The U.S. approved 511 new well permits last week, led by strong activity in New Mexico and Texas, while Permian Resources, EOG Resources, and Exxon (XTO) ranked as the most active operators. The report also identified eight operators appearing for the first time in more than 12 months, highlighting continued investment across conventional oil and gas development, natural gas infrastructure, carbon sequestration, and renewable energy projects, reflecting the ongoing evolution of North America’s energy sector.

Zephyr Energy’s expansion of its Paradox Basin position to approximately 70,000 acres underscores growing confidence in Utah’s long-term resource potential, even as current drilling activity remains overwhelmingly concentrated in the Uinta Basin. Year-to-date, 122 of 129 wells drilled have been in Duchesne and Uintah counties, led by Koda Resources, UINTA WAX Operating, FourPoint Energy, SM Energy (Civitas), and Crescent Energy, with Cyclone and Patterson rigs driving the majority of drilling activity.