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.
Midland Basin Drilling Activity Compared
🔝 Top Operators in 2025Q1 Midland Basin
Despite the downturn, several key players remained active:
- XTO Energy Inc. – 119 records
- Diamondback Energy – 113 records
- OXY USA Inc. – 53 records
- Ovintiv USA – 34 records
- Blackbeard Operating, LLC – 28 records
Among these, Diamondback Energy experienced the steepest decline, dropping from 212 records in 2024Q1 to 113 in 2025Q1.
📍 Operator & Contractor Diversity
- Unique Account Names: Slight increase from 52 in 2024Q1 to 53 in 2025Q1, indicating steady operator diversity despite the downturn.
- Contractor_and_Rig Count: Decreased from 141 in 2024Q1 to 136 in 2025Q1, reflecting a modest contraction in rig service diversity.
💡 Takeaway
While activity levels dipped in Q1 2025, the presence of over 50 operators and more than 130 unique rig contractors underscores a resilient and diverse sector. Watching how these numbers evolve through Q2 will be critical in understanding whether this decline is a blip—or part of a broader trend.
