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US oil and gas rig count rose by 7 to 549 in the week to Sept 26, the highest since June, marking a 4th straight weekly increase since Feb.

US oil and gas rig count rises to highest since June, Baker Hughes says

U.S. energy firms this week added oil and natural gas rigs for a fourth week in a row for the first time since February, energy services firm Baker Hughes said in its closely followed report on Friday.

The oil and gas rig count, an early indicator of future output, rose by seven to 549 in the week to September 26, its highest since June.

Despite this week’s rig increase, Baker Hughes said the total count was still down 38 rigs, or 6% below this time last year.

Baker Hughes said oil rigs rose by six to 424 this week, their highest since July, while gas rigs fell by one to 117, their lowest since July.

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Source: yahoo!finance

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BP now sees 2050 oil demand forecast to 83M barrels/day, 8% higher than prior estimate, signaling rising long-term oil use.

BP predicts higher oil and gas demand, suggesting world will not hit 2050 net zero target

BP has raised its forecasts for oil and gas demand, suggesting the global net zero target for 2050 will not be met and highlighting a slowdown in the transition to clean energy.

The energy company’s closely watched annual outlook report has estimated that oil use is on track to hit 83m barrels a day in 2050, a rise of 8% compared with its previous estimate of 77m barrels a day.

The current trajectory of the energy transition means natural gas demand could hit 4,806 billion cubic metres a year in 2050, BP said, up 1.6% from its previous estimate of 4,729 billion cubic metres.

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Source: The Guardian

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Mach Natural Resources LP closes $1.3B acquisition of oil & gas assets from Sabinal Energy LLC and IKAV San Juan.

Mach closes deals in Permian, San Juan basins for $1.3B

Mach Natural Resources LP has closed its acquisition of oil and gas assets from Sabinal Energy LLC and assets managed by IKAV San Juan in a pair of deals valued at $1.3 billion.

In the Permian Basin, Mach said in July it would pay $500 million to acquire assets from Sabinal Energy LLC, a private E&P backed by Kayne Anderson private equity funds.

In the San Juan Basin, the company said it would pay $787 million to acquire IKAV San Juan, one of the basin’s top natural gas producers.

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Source: HARTENERGY

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The total number of active drilling rigs for oil and gas in the US increased this week, with oil rigs rising for the third consecutive week.

US oil rig count rises for third consecutive week

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The total number of active drilling rigs for oil and gas in the United States rose this week, according to new data that Baker Hughes published on Friday.

The total rig count in the US rose to 542, according to Baker Hughes, down 46 from this same time last year. The rig count is still near four-year lows.

The number of oil rigs rose by 2 for the third week in a row, reaching 418. Year over year, this represents a 70-rig decline. The number of gas rigs stayed the same at 118 for a gain of 22 active gas rigs from this time last year. The miscellaneous rig count rose by 1 to 6.

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Source: Oil Price

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US crude oil inventories increased by 3.9 million barrels in the week ending September 5, reaching 424.6 million barrels.

EIA reports significant build in US crude stockpiles

Crude oil inventories in the United States increased by 3.9 million barrels during the week ending September 5, after falling 2.4 million barrels in the week prior, according to new data from the U.S. Energy Information Administration (EIA) released on Wednesday. The build brings commercial stockpiles to 424.6 million barrels according to government data, which is 3% below the five-year average for this time of year.

The EIA’s data release follows API’s figures that were released a day earlier, which suggested that crude oil inventories expanded by a more modest 1.25 million barrels.

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Source: Oil Price

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Permian Basin may have smaller, focused deals, but continues to flourish, says Pearl Energy founder Billy Quinn after record consolidation.

Permian thriving on small deals, says Pearl Energy

Despite billions of dollars’ worth of consolidation in the U.S.’ most prolific shale play, the Permian Basin remains a key place to deploy private equity capital. Portfolio companies can build into successful enterprises ripe for acquisition—but it’s not a job for just anybody.

Hart Energy queried top private equity firms invested in the Permian about what’s next for the most prolific shale play in the U.S. This interview with William J. “Billy” Quinn, founder and managing director at Pearl Energy Investments, is the first in a three-part series.

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Source: HARTENERGY

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Texas oil firms expect billions in tax breaks from Trump’s “Big Beautiful Bill,” with Oxy alone eyeing $700–800M.

Texas oil companies forecast billions in tax breaks from Trump’s ‘Big Beautiful Bill’

The Houston oil-company Occidental Petroleum reported last month it was expecting a large tax break from President Donald Trump’s tax and spending cut package known as the One Big Beautiful Bill — to the tune of $700 to $800 million over the next two years. It’s a sizable sum for a company that reported a $2.4 billion profit last year.

And they weren’t alone. Oil companies across Texas and the world have told investors they are expecting billions of dollars in tax benefits over the next three years thanks to the package, according to transcripts of calls with financial analysts reviewed by the Chronicle.

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Source: Houston Chronicle

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From 2020–24, 93% of US oil growth came from the 10 counties in Texas and New Mexico, while the rest added just 130K b/d.

Ten counties in the Permian Basin account for 93% of US oil production growth since 2020

Between 2020 and 2024, total crude oil and lease condensate production in the United States grew by 1.9 million barrels per day (b/d), 93% of which was produced from just 10 counties in Texas and New Mexico. Production from the rest of the United States, including producing areas in offshore state or federal waters, grew by just 130,000 b/d.

The 10 counties are all within the Permian Basin, a large geologic feature underlying 66 counties in New Mexico and Texas. Two of these counties, Lea and Eddy in New Mexico, accounted for nearly 1.0 million b/d of U.S. production growth (52%) between 2020 and 2024. Martin and Midland in Texas accounted for an additional 0.40 million b/d (21%). Six additional counties in Texas—Andrews, Glasscock, Howard, Loving, Reagan, and Ward—together grew by 0.36 million b/d (19%), based on county-level production data from Enverus.

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Source: eia

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Oil prices steady amid high risks; Barclays sees tight supply, strong demand, and higher-than-expected earnings ahead.

Oil and gas sector resilient, Barclays sees upside for energy earnings

Oil prices have remained range-bound recently despite high geopolitical uncertainty, with analysts saying the sector’s fundamentals continue to support a positive outlook for energy earnings. Let’s talk more about the Oil and gas sector.

In a Monday note to clients, Barclays energy analyst Amarpreet Singh reiterated the constructive stance on the sector, pointing to resilient demand and persistent supply constraints across key producing nations.

Recent data showed that global oil inventories declined in the first half of 2025 (H1 25), countering expectations of a surplus.

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Source: Investing

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Drones go mainstream in oil & gas, boosting safety, inspections, and AI-driven monitoring across operations.

Drones transforming operations in the oil and gas sector

Uncrewed aerial vehicles (UAVs), more commonly known as drones, have moved from experimental pilots to mainstream deployment in oil and gas operations. Their agility, affordability, and ability to host advanced sensors and AI systems make them indispensable for asset inspection, emissions monitoring, and logistics support. By reducing the need for direct human intervention in hazardous environments, drones are redefining safety standards while improving efficiency and cost-effectiveness across upstream, midstream, and downstream Drones transforming operations.

Oil and gas companies are rapidly integrating drones into their digital oilfield ecosystems. Players such as Saudi Aramco, BP, Chevron, Shell, and TotalEnergies are expanding their drone fleets for routine inspections of pipelines, flare stacks, tanks, and offshore platforms. Advanced capabilities, including methane leak detection, 3D digital twinning, and real-time data integration with AI and edge computing platforms, are strengthening predictive maintenance and environmental, social, and governance compliance.

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Source: yahoo!finance

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