Helmerich & Payne, Inc. (NYSE: HP), a leading drilling contractor, reported its first-quarter fiscal 2025 results, shedding light on steady U.S. rig activity despite broader industry uncertainties. While the company’s net income and revenue declined slightly from the previous quarter, its North America Solutions (NAS) segment remained resilient, showcasing consistent performance and efficiency gains.
In the ever-evolving oil and gas industry, the role of a Drilling Consultant is more critical than ever. As drilling operations become increasingly complex, companies rely on experienced professionals to oversee projects, ensure safety, and optimize performance. Drilling Consultants bring years of field expertise, problem-solving skills, and leadership to the job, making them an indispensable part of any successful drilling program.
ONEOK and MPLX’s decision to invest in a $1.4 billion liquefied petroleum gas (LPG) export terminal in Texas City aligns with growing global demand for propane and butane, especially in Asian and European markets.
The Permian Basin continues to attract significant investment, with US Energy Development Corporation (USEDC) announcing plans to deploy up to $1 billion in operated and non-operated oil and gas projects throughout 2025. This marks a substantial increase from the company’s $800 million investment in 2024 and underscores its confidence in the region’s strong drilling economics.
ExxonMobil highlighted the Permian Basin as a major driver of its production growth and efficiency improvements, emphasizing record production, integration of Pioneer Natural Resources, and new technologies aimed at cost reduction and enhanced recovery.
The total rig count increased by six to 582 for the week ending January 31, with oil rigs seeing their largest weekly jump since February 2023.
The U.S. oil and gas industry is undergoing a major transformation, driven by efficiency initiatives and strategic cost management. With record-breaking production levels in 2024, operators in the Permian Basin and beyond are implementing advanced drilling techniques, automation, and cost-cutting strategies to maintain profitability amid fluctuating market conditions.
The Permian Basin continues to be a cornerstone of Chevron’s upstream strategy, with the company reporting nearly 18% year-over-year production growth in Q4 2024.
Baker Hughes is redefining its role in the industry by positioning itself as an “industrial energy technology company,” rather than just an oilfield services (OFS) provider.
The Permian Basin, the heart of U.S. shale, is set for a strong year in 2025 as completion activity rebounds and demand for next-generation frac technology accelerates. While Liberty Energy (NYSE: LBRT) did not explicitly mention the Permian in its recent earnings release, its insights into market trends and completions activity have significant implications for the region.
