Louisiana drilling activity remains steady, with a slight rig count decline driven by softer Haynesville gas activity, while offshore and South Louisiana operations hold firm. Over the past 30 days, spud activity has been concentrated among a handful of operators—led by Apex Natural Gas and Expand Energy—and heavily focused in De Soto Parish, reinforcing its position as the core of development.

This group consists of small, low-frequency U.S. oil and gas operators and midstream entities that manage mature, low-production assets and only occasionally file new well permits. They represent the long tail of the industry—characterized by minimal drilling activity but significant cumulative well ownership—making them better suited for production optimization and cost-focused solutions rather than growth-driven services.

These projects represent an estimated $80–90 billion in combined capital investment, driven primarily by large-scale LNG export developments supported by pipeline and infrastructure expansions. Together, they position British Columbia as a major global LNG supplier while enabling long-term growth in Western Canada’s natural gas production and export capacity.