May 19, 2026
Last week, a number of oil and gas operators across the U.S. filed new well permits after extended periods of limited or no permitting activity. The list includes a mix of small independents, mature conventional producers, Appalachian gas operators, and Permian-focused development companies. While some of these operators maintain active production portfolios, recent drilling activity had been largely absent — making these new permits a notable signal for oilfield service companies tracking early-stage opportunities.
The renewed activity could point to several market drivers, including stronger commodity prices, asset reactivation strategies, private equity-backed development programs, or new horizontal drilling campaigns in legacy fields. From Wyoming and Colorado to the Permian Basin and Appalachia, these permits may represent the early stages of broader operational momentum heading into the second half of the year.
ABLE OIL COMPANY, INC. is a small independent Oklahoma oil and gas operator focused on maintaining mature conventional oil wells, primarily in Okmulgee and surrounding counties. Public records indicate the company operates approximately 2–4 active producing wells with limited recent drilling or permit activity.
ARNCO OIL & GAS, LLC is a small independent oil and gas operator based in Cookeville, Tennessee, focused on drilling and operating conventional oil wells primarily in Overton County and surrounding areas. Public records and state permit databases indicate the company has several operated wells across multiple Tennessee leases, with an estimated active/historical well count of roughly 10–20 wells, including recent permit activity in 2026.
BCD PROP INC is a Pennsylvania-based independent natural gas operator focused primarily on shallow conventional gas production in Erie and Crawford counties within the Appalachian Basin. Public production databases indicate the company operates approximately 95 producing wells in Pennsylvania, with a portfolio centered on mature, low-decline gas assets and legacy field development.
BNL (ENTERPRISE) INC is a small independent oil and gas operator active in Las Animas County, Colorado, focused on conventional exploration and legacy well operations. Public Colorado production records show the company has approximately 16 operated wells and 16 leases, with most wells currently classified as shut-in or inactive and limited recent production activity.
ELDER OIL & GAS CO. is a Pennsylvania-based independent operator focused on conventional oil and natural gas production in the Appalachian Basin, primarily across Clarion, Venango, Armstrong, and Butler counties. Public production databases indicate the company operates approximately 48 active producing wells in Pennsylvania, with a broader historical footprint of more than 100 total wells including active, plugged, and abandoned wells.
GUARDIAN OPERATING LLC is a Texas-based independent oil and gas operator focused on conventional and horizontal well production in areas including La Salle, Grimes, and Upshur counties. Public records indicate the company operates approximately 40 active and historical wells across multiple Texas leases, with production concentrated in the JC Martin and Pearson Unit properties.
LITHOS RESOURCES II, LLC is a Denver-based private upstream oil and gas company focused on developing assets in the northern Midland Basin of West Texas. The company holds approximately 17,000 net leasehold acres across Martin and Dawson Counties targeting the Spraberry, Dean, and Wolfcamp formations, with an estimated operated/historical well inventory of roughly 50–100 wells tied to its Midland Basin development position and acquisitions.
NOG PRODUCTION & OPERATING LLC, a subsidiary of Northern Oil and Gas, Inc. (NYSE: NOG), is a Minneapolis-based oil and gas company focused on acquiring and participating in non-operated oil and natural gas assets across major U.S. shale basins, including the Williston, Permian, Marcellus, and Uinta basins. Through its operated and non-operated interests, the company is associated with thousands of wells nationwide, with public records indicating an estimated 8,000+ gross producing wells tied to its asset portfolio and partnership positions.
RED DESERT RESOURCES LLC is a private independent oil and gas company focused on natural gas development and operated interests in Wyoming’s Greater Green River Basin, particularly the Wamsutter and Lewis formations in Sweetwater County. Public Wyoming production records tied to the Red Desert field area indicate an estimated 50–70 active and historical wells, with operators such as Crowheart Energy developing multiple producing gas wells across the Red Desert project area.
RISING STAR ENERGY PARTNERS II, LLC is a Dallas-based independent oil and gas operator focused on conventional oil production in South Texas, primarily in Refugio County. Public operator databases indicate the company operates approximately 30 active and historical wells across the La Rosa Unit, Rooke, and related lease areas, with current production centered on mature oil assets.
STEFFEN RESOURCE DEVELOPMENT, LLC is a Kansas-based independent oil and gas operator focused on conventional oil production in Kingman County, Kansas. Public production records indicate the company operates approximately 8 total wells, including 4 actively producing wells, with additional inactive, injection, and plugged wells tied to mature lease development in the region.
VICKERY ENERGY, LLC is a Fort Worth, Texas-based independent natural gas company backed by Quantum Capital Group, focused on acquiring and developing Appalachian Basin assets in the Marcellus and Utica shales. Following its 2026 acquisition of Tribune Resources’ West Virginia assets, the company added approximately 38,000 net acres and production exceeding 200 MMcfe/d, with the acquired portfolio estimated to include roughly 150–300 operated and associated wells across Wetzel, Tyler, Harrison, and Doddridge counties.
VIRTUS ENERGY OPERATING, LLC is a Texas-based independent oil and gas operator focused on horizontal redevelopment projects in the Permian Basin, particularly targeting the San Andres formation in West Texas and New Mexico. The company’s management team has been associated with the development of more than 200 horizontal San Andres wells and, through a recent partnership with EON Resources, is planning a new drilling program of up to 90 additional horizontal wells in the Grayburg Jackson Field.
XPR WYOMING LLC is a Wyoming-focused independent oil and gas operator active in Converse and Niobrara counties, primarily targeting conventional and emerging horizontal development opportunities in the Powder River Basin. Public Wyoming records indicate the company is associated with approximately 12 total wells, including one currently producing well and multiple horizontal permits in waiting-on-approval status tied to the Moore, Finn, Jaxon, and Goldeneye prospects.
A few clear patterns stand out across this group of operators:
1. Smaller Independents Are Becoming Active Again
Most of the companies on this list are small privately held independents rather than large public E&Ps. Operators like Able Oil, Arnco Oil & Gas, Steffen Resource Development, and BNL Enterprise typically focus on mature conventional assets and low-cost development programs.
When these types of operators begin permitting again, it often suggests:
- Improved economics from stable oil and gas prices
- Lower service costs in certain regions
- Access to fresh capital or JV funding
- Re-entry into previously paused drilling programs
This is important because small independents are usually very price-sensitive and operationally cautious.
2. Conventional Basins Are Still Generating Activity
Several operators are active in mature conventional regions:
- Kansas
- Pennsylvania
- Oklahoma
- Colorado
- Tennessee
- South Texas
That suggests conventional drilling remains economically viable in niche areas, especially for:
- shallow gas
- stripper wells
- recompletions
- low-risk step-outs
- legacy field redevelopment
These projects typically create opportunities for:
- smaller service companies
- workover contractors
- chemical providers
- pumpers
- local trucking and water services
3. Permian Basin Activity Continues to Expand Beyond Major Operators
Companies like:
- Lithos Resources II
- Virtus Energy Operating
- NOG Production & Operating
show that the Permian remains attractive not only for supermajors but also for:
- PE-backed firms
- redevelopment-focused operators
- non-op participation companies
A notable trend is horizontal redevelopment of older San Andres and Grayburg assets, especially in West Texas and New Mexico. These are lower-cost inventory opportunities compared to premium Tier 1 acreage.
4. Private Equity Influence Is Still Strong
Several names reflect PE-backed growth models:
- Vickery Energy (Quantum-backed)
- Lithos Resources
- Rising Star Energy Partners
- Virtus Energy
This suggests capital is still flowing into:
- overlooked mature assets
- bolt-on acquisitions
- PDP-heavy portfolios
- redevelopment drilling
Rather than aggressive shale growth, many of these firms appear focused on:
- disciplined production growth
- cash flow optimization
- lower-risk drilling
5. Appalachia Gas Is Quietly Reawakening
Operators like:
- BCD Prop
- Elder Oil & Gas
- Vickery Energy
highlight ongoing natural gas positioning in Appalachia.
With LNG expansion and long-term gas demand forecasts improving, even smaller gas-focused operators may be preparing for:
- incremental development
- refracs
- lease retention drilling
- infrastructure optimization
This could create future opportunities for:
- compression
- midstream
- emissions monitoring
- production optimization services
6. Wyoming Activity Suggests Powder River Basin Interest
Red Desert Resources and XPR Wyoming both point toward continued interest in:
- Powder River Basin
- Green River Basin
The Powder River Basin remains one of the more closely watched emerging U.S. oil plays because of:
- stacked pay potential
- lower acreage costs
- improving horizontal economics
New permits from smaller operators may indicate:
- acreage testing
- exploratory positioning
- early-stage development campaigns
7. Many of These Operators Had Been Operationally Quiet
The most important observation is that several of these companies had little or no recent permit activity. That makes this list more meaningful than a standard weekly permit report.
Author: phinds
