Between 2020 and 2024, total U.S. crude oil and lease condensate production grew by 1.9 million barrels per day (b/d). Remarkably, 93% of that growth came from just 10 counties in Texas and New Mexico, all located in the Permian Basin. Production in the rest of the United States—including offshore—added only 130,000 b/d over the same period.
Oil & Gas Facility Engineer Contact Directory – $25
Includes: Account, Contact Name, Email, Location….
Two counties in New Mexico, Lea and Eddy, were the standout contributors, accounting for nearly 1.0 million b/d of growth (52%). On the Texas side, Martin and Midland counties added another 0.40 million b/d (21%), while Andrews, Glasscock, Howard, Loving, Reagan, and Ward counties combined for 0.36 million b/d (19%).
By 2024, these 10 counties collectively produced 4.8 million b/d, equal to 37% of total U.S. crude oil and condensate output. The driving force behind this surge remains the Bone Spring, Spraberry, and Wolfcamp formations—the geologic engines of U.S. tight oil growth.
Wells Drilled YTD in the Top 10 Counties
Recent drilling activity confirms that the same counties leading U.S. production growth are still where operators are most active. Year-to-date (YTD), the breakdown of wells drilled in these counties is as follows:
County Wells Drilled Eddy 721 Lea 598 Martin 361 Midland 352 Loving 281 Reagan 201 Glasscock 113 Howard 111 Ward 99 Andrews 85
Eddy and Lea counties alone account for over 1,300 wells drilled YTD, underscoring their position as the heart of U.S. onshore growth.
Top 10 Operators by Wells Drilled
The concentration of drilling activity also reflects the dominance of a handful of major operators. The top 10 accounts by wells drilled across these counties are:
Operator Wells Drilled Exxon (XTO) 508 Diamondback Energy 300 OXY USA Inc. 296 EOG Resources, Inc. 210 Devon Energy Corporation 172 Mewbourne Oil Company 164 Permian Resources 152 Chevron U.S.A. Inc. 125 ConocoPhillips Company 110 APA Corporation 105
Together, these operators account for thousands of wells drilled, reinforcing their control over the pace and scale of Permian Basin development.
Key Takeaway
The story is clear: U.S. oil growth remains overwhelmingly concentrated in a small set of Permian counties and operators. While the broader U.S. upstream sector continues to evolve, the data shows that Eddy, Lea, Martin, and Midland counties—alongside leading players like Exxon, Diamondback, OXY, and EOG—are shaping the future of American crude supply.
