Permian drillers add rigs as oil prices stay elevated

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Independent drillers have begun adding rigs in the Permian Basin, albeit slowly, according to the data analysis firm Enverus.

Independent oil producers are gradually increasing activity in the Permian Basin as crude prices remain elevated, according to E&E News by POLITICO. Data cited from Enverus shows Permian rig counts rising from 221 at the start of January to 245 in May, before easing to 240 this week. The article also notes that some operators are completing drilled-but-uncompleted wells to bring supply online faster than starting entirely new wells.

The expected production increase is estimated at about 250,000 barrels per day, which the article says is not large enough to significantly change broader crude pricing trends. Diamondback Energy, based in Midland, had 73 unfracked wells as of April 2026, according to Rystad Energy data cited in the report, and announced plans in May to use five fracking crews to complete some of them. For readers tracking oil and gas royalties or the role of Permian Basin production, the report highlights how drilling decisions, well backlogs, and operator strategy can influence supply outlooks.

The article also points to changing ownership patterns in the basin. Larger producers such as Exxon Mobil and Chevron now control a significant share of the highest-quality drilling locations, which may make overall production growth more measured than in past cycles led by smaller shale operators.

Source: E&E News by POLITICO

Read the full original article here

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