As drilling activity accelerates in Western Canada, a comparison of well permits issued from January through May highlights a clear year-over-year rebound.
Western Canada Well Permitting Trends: Jan–May 2024 vs. 2025
Haynesville Shale YoY Surge: Well Permits Up 11% in Early 2025—Operators Stay Bullish
The Haynesville Shale’s strategic location near Gulf Coast LNG facilities and its high-quality gas make it a prime candidate for continued development. However, operators remain vigilant, balancing expansion plans with market realities. As global demand for natural gas grows, the Haynesville is poised to play a significant role in meeting energy needs.
Wells Drilled in Texas by Quarter Since 2017: A Window Into the U.S. Shale Factory Model
The factory model isn’t just a tactic—it’s a transformation. The Texas drilling chart reflects more than numbers. It shows that U.S. shale’s greatest strength is its ability to sustain output predictably and efficiently. This matters not only for domestic energy stability, but also for global trade, emissions reduction, and long-cycle investment.
ConocoPhillips Transfers 33 Air Permits to U.S. Energy in Reeves County (BARSTOW & PECOS Focus)
The Permian Basin continues to reshape its operator landscape. In a notable development, ConocoPhillips has transferred 33 air permits to U.S. Energy Development Corporation (USEDC), marking a strategic pivot for both companies. The permits—filed under the Texas Commission on Environmental Quality (TCEQ)—cover key batteries and wellsites concentrated in Reeves County, including operations near Barstow and Pecos.
Permian Basin Well Permits Decline — AI Forecast Confirms Downward Trend
The Permian Basin, the beating heart of U.S. shale oil production, is experiencing a notable contraction in drilling activity this spring. Based on a combination of historical data and AI-driven time series forecasting, well permit volumes from March through May 2025 are expected to total approximately 1,790 permits — a sharp decline from the 2,304 permits issued during the same period in 2024.
U.S. Shale’s Superpower Isn’t Geology — It’s Consistency
For over a decade, the U.S. shale revolution was defined by volatility—surging production followed by crashes, layoffs, and bankruptcies. But today, a quieter transformation is underway. U.S. shale is becoming less of a wildcat business and more like a disciplined, high-efficiency manufacturing system.
STEP Energy Services Exits U.S. Fracturing: A Strategic Refocus on Canada
In its Q1 2025 earnings call, STEP Energy Services confirmed the formal termination of its U.S. fracturing division—marking a significant shift in the company’s operational focus. This decision follows several quarters of underperformance in the U.S. market, including a CAD 32 million net loss in Q4 2024 and an additional…
Rig Activity Down, Production Up – May Rig Count Recap – Baker Hughes
U.S. total rig count: ↓ 2 to 576 — the lowest since January
Oil rigs: ↓ 1 to 473 (lowest since Jan)
Gas rigs: ↓ 1 to 100
Misc rigs: unchanged at 3
Offshore rigs: stable at 11
Strathcona Sells Montney Assets for $2.84B — Pure-Play Canadian Heavy Oil Focus
In a bold move to streamline its portfolio and sharpen its focus, Strathcona announced the sale of its Montney assets for $2.84 billion. This transformational transaction accelerates Strathcona’s strategy to become a pure-play heavy oil producer, while unlocking value and maintaining financial flexibility.
Ring Energy Expands in Andrews County Again as Chord Energy Transfers Facility to Ring
Ring Energy’s facility acquisitions, revealed through TCEQ permit transfers, underscore its strategic expansion in Andrews County. As Chord Energy refocuses on the Williston Basin, Ring consolidates CBP assets to drive low-cost, margin-rich growth. These regulatory transfers aren’t just formalities — they’re indicators of who’s doubling down and who’s cashing out in the Permian Basin.
