In Q1 2025, Patterson-UTI posted $1.3 billion in revenue, a sequential increase from Q4 2024 but a decline from $1.51 billion in Q1 2024.
Patterson-UTI Energy Q1 2025: Steady Rigs, Tech-Driven Efficiency, and a Natural Gas-Powered Future
Why Inaccurate AFE Estimates Still Haunt Drilling Teams: The Hidden Cost of Poor DDR Cost Tracking
In the complex world of oil and gas drilling, few documents are as essential—or as underutilized—as the Daily Drilling Report (DDR). It’s supposed to be the real-time pulse of a drilling operation. But according to a recent survey we conducted, one of the most persistent challenges operators face is tied to what DDRs often don’t capture well enough: accurate cost tracking.
Strategic Air Permit Transfers Highlight Shifts in Barnett Shale Operations
As the oil and gas industry continues to navigate commodity price volatility and evolving regulatory landscapes, the recent transfer of air permits from Sage Natural Resources LLC to EagleRidge Energy underscores a broader trend in the Barnett Shale: operational consolidation and strategic repositioning.
Revenue Down, Margins Up: How Transformation Is Reshaping Baker Hughes in 2025
Baker Hughes’ first quarter of 2025 tells a story of resilience, adaptation, and strategic recalibration. While the company reported flat year-over-year revenue and a noticeable decline from the prior quarter, its transformation efforts are beginning to pay off—particularly in how the company manages cost, structure, and future-facing opportunities.
ConocoPhillips Launches “Competitive Edge” Restructuring with BCG to Cut Costs After Marathon Merger
ConocoPhillips has initiated a significant restructuring initiative, internally termed “Competitive Edge,” with strategic guidance from Boston Consulting Group (BCG). This move follows the company’s $23 billion acquisition of Marathon Oil and aims to streamline operations and reduce costs amid industry challenges, including oil prices hovering around $63 per barrel.
Halliburton Q1 2025 Earnings Dip Amid Soft North American Activity, Strong International Tech Wins
Halliburton Company (NYSE: HAL) reported Q1 2025 net income of $204 million ($0.24 per diluted share), down sharply from $606 million ($0.68 per share) in Q1 2024. On an adjusted basis, net income came in at $517 million ($0.60 per share), a 24% drop year-over-year.
Devon Energy Launches $1 Billion Business Optimization Plan to Boost Margins and Free Cash Flow
In a strategic move to reinforce financial resilience and enhance shareholder returns, Devon Energy has unveiled a comprehensive business optimization plan targeting $1 billion in annual pre-tax free cash flow improvements by the end of 2026.
CNRL Drilling Trends: Q1 2025 Sees 6% Increase
Canadian Natural Resources Limited (CNRL) posted strong drilling activity in Q1 2025, continuing a positive trajectory from the prior year. A review of operational data reveals several notable trends across rig deployment, field concentration, and drilling methodologies—showing both consistency and strategic shifts in resource development.
Cenovus Energy Leads Q1 2025 Drilling Activity in Western Canada
Cenovus Energy Inc. emerged as the top driller in Western Canada during Q1 2025, maintaining robust activity levels across its oil sands and conventional heavy oil assets. The company recorded 266 drilling operations in Q1 2025, marking a 9% increase from 244 in Q1 2024 Oil Gas Leads.
U.S. Rig Count Rises — Utica Shale Leads Gains – Baker Hughes
This week’s rig count reflects a market in transition—steady oil drilling in some regions, sharp pullbacks in gas, and an overall trend of strategic restraint by operators. With the Permian Basin hitting a two-year low in rig activity and gas drilling at its weakest point since late 2024
