Helmerich & Payne (H&P) remains one of the most important barometers of U.S. onshore drilling activity. As a leading provider of high-spec land rigs, H&P’s well count offers a real-time lens into where capital is flowing, which operators are most active, and which basins continue to anchor U.S. oil and gas development.
An analysis of 3,150 wells drilled year-to-date using H&P rigs highlights both concentration and diversification across operators and plays.
H&P Wells Drilled YTD: Scale and Concentration
Despite a challenging macro environment marked by capital discipline and volatile commodity prices, drilling activity remains highly concentrated among a small group of large, well-capitalized operators.
Top 10 Operators by H&P Wells Drilled YTD
| Rank | Operator (Account Name) | Wells Drilled |
|---|---|---|
| 1 | Exxon (XTO) | 595 |
| 2 | OXY USA Inc. | 284 |
| 3 | EOG Resources, Inc. | 252 |
| 4 | Permian Resources | 245 |
| 5 | Devon Energy Corporation | 234 |
| 6 | ConocoPhillips Company | 208 |
| 7 | Ovintiv USA | 146 |
| 8 | Civitas Resources (SM Energy) | 110 |
| 9 | Coterra Energy | 66 |
| 10 | Crescent Energy Inc. | 58 |
What this tells us:
- Supermajors and large independents dominate utilization of H&P’s fleet.
- Exxon (XTO) alone accounts for nearly 19% of all H&P-drilled wells YTD, underscoring its multi-basin development strategy.
- Mid-size Permian-focused operators like Permian Resources and Devon remain highly active, reinforcing the basin’s role as the backbone of U.S. shale.
Where the Wells Are Being Drilled: Play-Level View
Using County and Province data, wells were grouped into major oil and gas plays to understand geographic exposure.
H&P Wells Drilled YTD by Oil & Gas Play
| Oil & Gas Play | Wells Drilled |
|---|---|
| Other / Unclassified | 1,874 |
| Permian Basin | 823 |
| Williston (Bakken) | 130 |
| DJ Basin | 123 |
| Marcellus / Utica | 122 |
| Anadarko Basin | 78 |
Interpreting the Play Mix
Permian Basin: The Anchor
The Permian Basin accounts for 823 wells, making it the single largest clearly classified play. This aligns with:
- Ongoing capital concentration in the Delaware and Midland sub-basins
- Operator preference for high-return, short-cycle inventory
- Strong demand for H&P’s high-spec, walking rig fleet
Bakken, DJ, and Marcellus: Steady but Selective
The Bakken, DJ Basin, and Marcellus/Utica each contribute roughly 120–130 wells. These plays reflect:
- Maintenance-level drilling programs
- Strong operator discipline
- Targeted development rather than aggressive growth
Why “Other / Unclassified” Is So Large
The sizable Other / Unclassified category highlights a common data reality:
- County-to-play mapping gaps
- Smaller or less standardized counties
- Mixed or transitional development areas
From a market intelligence perspective, this also represents an opportunity: better basin normalization unlocks sharper targeting for sales, marketing, and CRM workflows.
What This Means for the Oilfield Service Market
H&P’s YTD drilling data reinforces several structural trends shaping the oilfield today:
- Rig demand is driven by a concentrated operator base
- Permian remains the center of gravity, even as other basins stay relevant
- High-spec rigs win in capital-disciplined environments
- Data quality and play normalization matter more than ever for identifying real opportunities
For service companies, suppliers, and business development teams, understanding who is drilling, where they are drilling, and at what scale is no longer optional—it’s the foundation of effective market strategy.
Bottom Line
Helmerich & Payne’s wells drilled YTD confirm that U.S. shale activity remains selective, concentrated, and strategically focused. The Permian continues to lead, supermajors dominate activity, and high-spec rigs remain essential.
As capital discipline persists, precision targeting—by operator, basin, and rig fleet—will separate winners from noise in 2025 and beyond.
