The start of 2025 brought noticeable shifts in drilling and permit activity in the Midland Basin oil and gas sector. A look at Q1 2024 versus Q1 2025 reveals a 21.4% drop in overall activity, with counts falling from 821 records in 2024Q1 to 645 in 2025Q1. This decline suggests a more conservative approach among operators entering the new year—possibly driven by market volatility, shifting commodity prices, or capital discipline strategies.

The first quarter of 2025 saw a notable slowdown in oil and gas drilling activity compared to the same period in 2024. Based on licensing and rig activity records, Q1 2025 recorded 331 wells, a 21.6% decrease from 422 wells in Q1 2024.

As the first quarter of 2025 wraps up, we’re seeing a noticeable uptick in drilling activity compared to the same period last year. Based on activity records, Q1 2025 saw a 23.5% increase in total record count over Q1 2024 — jumping from 170 to 210 entries. This surge points to a rebound in operational momentum and likely reflects stronger commodity prices and improved drilling economics.

As Q1 2025 wraps up, early well drilling activity gives us a strong indicator of what to expect for the full year. We analyzed drilling data from over 1,900 oil and gas operators and spotlighted the Top 10 companies based on wells drilled so far in 2025.