Tag Archive for: drilling

Permian Basin projects led Helmerich & Payne drilling work as executives remained upbeat amid market volatility.

Permian drilling demand supports Helmerich & Payne activity

Helmerich & Payne reported stronger-than-expected North American drilling activity in its fiscal third quarter, which ended June 30, with the Permian Basin accounting for a significant share of current development work. Industrial Info Resources is tracking more than $3 billion in active and proposed projects involving H&P’s drilling services, with about 75% of that investment value tied to Texas. Devon Energy and Ovintiv together represent roughly two-thirds of the projects in Industrial Info’s database.

Ovintiv accounts for nearly $1 billion of tracked investment through multiple Permian drilling programs. Its plans include at least 55 new wells near Lenorah, Texas, and at least 15 wells near Big Spring by the end of 2026. Devon is also advancing sizable programs, including at least 89 wells near Hobbs, New Mexico, and 10 wells in Loving County, Texas. The continued development highlights the level of oil and gas activity in the Permian Basin.

H&P averaged 142 contracted rigs in North America during the quarter, exceeding the midpoint of its activity expectations. The company reported $1.03 billion in quarterly operating revenue and net income of $75.7 million. Third-quarter capital expenditures totaled $70 million, while H&P maintained its full-year fiscal 2026 gross capital spending guidance of $270 million to $310 million.

Source: Industrial Info Resources
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DISCLAIMER: The summary above is based on information from third-party sources believed to be reliable, but its accuracy and completeness cannot be guaranteed. It is provided for general informational purposes only and does not constitute investment, financial, tax, legal, or other professional advice, nor a recommendation or solicitation to buy or sell any security, commodity, or investment product. Markets, regulations, and circumstances can change, and the information may not reflect the most current developments. You should conduct your own research and consult a qualified financial advisor, CPA, or other professional before making decisions based on this content. The publisher and its affiliates disclaim any liability for losses or damages arising from reliance on the information provided above.
The Permian Basin remains a testing ground for advanced well construction and longer, more technically demanding wells.

Permian well technologies improve drilling efficiency

The Permian Basin continues to serve as a testing ground for advanced well construction methods as operators pursue longer and more technically demanding wells. World Oil reports that SLB field deployments involving drilling fluids, rotary steerable systems, measurement-while-drilling tools, and digital workflows are improving the delivery of extended laterals. In several wells, a high-temperature fluid system maintained stable properties through 10,000-foot lateral sections, supported smooth casing runs, and reduced drilling-fluid costs by as much as 37%. These advances are especially relevant as modern horizontal drilling programs extend four miles or more and require tighter control of pressure, hole cleaning, and wellbore placement.

Performance gains were also recorded in the Midland and Delaware basins. An advanced rotary steerable system improved drilling speed by 48% in a Midland field trial and shortened the program by 2.9 days compared with nearby wells. In the Delaware, deployments reduced curve-drilling time by 43%, improved overall curve-and-lateral drilling speed by 50%, lowered cumulative tortuosity by 18%, and extended average run lengths by 60%. A purpose-built fluid system also helped operators drill four-mile laterals while meeting cost-per-foot and schedule targets below authorized spending levels. The results show how integrated equipment, real-time monitoring, and digital drilling tools can support more repeatable well delivery, stronger cost control, and improved project economics.

Source: World Oil
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Ranger Land & Minerals curates weekly insights from across the oil and gas industry to keep our readers informed. To receive news like this directly in your inbox, join our free newsletter. If you’d like to learn more about mineral rights and oil royalty opportunities, contact us to speak with a representative.
DISCLAIMER: The summary above is based on information from third-party sources believed to be reliable, but its accuracy and completeness cannot be guaranteed. It is provided for general informational purposes only and does not constitute investment, financial, tax, legal, or other professional advice, nor a recommendation or solicitation to buy or sell any security, commodity, or investment product. Markets, regulations, and circumstances can change, and the information may not reflect the most current developments. You should conduct your own research and consult a qualified financial advisor, CPA, or other professional before making decisions based on this content. The publisher and its affiliates disclaim any liability for losses or damages arising from reliance on the information provided above.
Magnolia Oil & Gas will acquire Houston-based WildFire Energy for $4.06B, boosting its Texas production footprint.

Magnolia expands South Texas position in $4.06B deal

Magnolia Oil & Gas has agreed to acquire Houston-based WildFire Energy in a transaction valued at approximately $4.06 billion, including debt. The purchase will add about 810,000 net acres in the Giddings area, increasing Magnolia’s position there to more than 1.25 million net acres across the Austin Chalk, Eagle Ford and Woodbine formations. The expanded acreage strengthens the company’s presence in one of the key regions supporting oil production in Texas.

The acquisition also includes more than 500 miles of natural gas gathering pipelines and a sand mine that supplies roughly 80% of Magnolia’s annual sand requirements. Magnolia expects the larger, connected asset base to generate more than $100 million in annual operating efficiencies and cost savings. WildFire’s owners will receive 32.2 million shares of Magnolia Class A stock, while Magnolia will assume $600 million in notes due in 2029.

The agreement reflects continued consolidation within the upstream oil and gas sector as producers seek additional drilling inventory and greater operating scale. Magnolia also increased its quarterly dividend by 9% to $0.18 per share, reported second-quarter production of 106,100 barrels of oil equivalent per day and raised its expected standalone production growth for 2026 from 5% to 6%. The transaction is expected to close late in the third quarter of 2026.

Source: Houston Business Journal
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Ranger Land & Minerals curates weekly insights from across the oil and gas industry to keep our readers informed. To receive news like this directly in your inbox, join our free newsletter. If you’d like to learn more about mineral rights and oil royalty opportunities, contact us to speak with a representative.
DISCLAIMER: The summary above is based on information from third-party sources believed to be reliable, but its accuracy and completeness cannot be guaranteed. It is provided for general informational purposes only and does not constitute investment, financial, tax, legal, or other professional advice, nor a recommendation or solicitation to buy or sell any security, commodity, or investment product. Markets, regulations, and circumstances can change, and the information may not reflect the most current developments. You should conduct your own research and consult a qualified financial advisor, CPA, or other professional before making decisions based on this content. The publisher and its affiliates disclaim any liability for losses or damages arising from reliance on the information provided above.
Dante Caravaggio discusses EON’s Grayburg-Jackson drilling plans, production growth, and investor funding strategy.

EON Resources advances San Andres development strategy

EON Resources is centering its next phase of expansion on the San Andres formation within its Permian Basin portfolio. President and CEO Dante Caravaggio described plans for the company to participate in an initial three-well horizontal program, followed by 10 additional wells. The development campaign is intended to increase production from EON’s existing acreage while using horizontal drilling to access a broader portion of the formation. Well performance, development costs and the pace of deployment will help determine how rapidly the company can expand its operating base.

Management is also seeking additional investment to support the company’s planned growth. Caravaggio said EON expects annual revenue to reach approximately $100 million within five years. The company recorded EBITDA of about $6 million in 2025 and is targeting roughly $12 million in 2026 and $24 million in 2027, with further increases anticipated as development progresses. These financial goals are closely connected to the execution of the San Andres drilling program, making operating results and continued access to capital important factors in EON’s expansion strategy.

Source: The Energy Year
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Ranger Land & Minerals curates weekly insights from across the oil and gas industry to keep our readers informed. To receive news like this directly in your inbox, join our free newsletter. If you’d like to learn more about mineral rights and oil royalty opportunities, contact us to speak with a representative.
DISCLAIMER: The summary above is based on information from third-party sources believed to be reliable, but its accuracy and completeness cannot be guaranteed. It is provided for general informational purposes only and does not constitute investment, financial, tax, legal, or other professional advice, nor a recommendation or solicitation to buy or sell any security, commodity, or investment product. Markets, regulations, and circumstances can change, and the information may not reflect the most current developments. You should conduct your own research and consult a qualified financial advisor, CPA, or other professional before making decisions based on this content. The publisher and its affiliates disclaim any liability for losses or damages arising from reliance on the information provided above.
US oil and gas drilling made a big leap in the past week as the latest Baker Hughes Rig Count showed a gain of 10 rigs to reach a total of 573

U.S. rig count rises as Oklahoma drilling activity grows

U.S. oil and gas drilling activity increased in the latest Baker Hughes report, according to Oklahoma Energy Today. The national rig count rose by 10 to 573, including 440 oil rigs, 125 natural gas rigs, and 8 miscellaneous rigs. Oklahoma also added 2 rigs, bringing the state total to 46, matching its level from the same period a year earlier.

The report also noted broader gains across several producing regions. Texas added 7 rigs for a total of 268, while New Mexico held steady at 97. Kansas increased by 3 rigs to 17, according to the Red Top Rig Report, and Wyoming added 1 rig to reach 17. For readers tracking Permian Basin activity and broader oil and gas royalty trends, rig counts remain an important indicator of operator activity and potential future production across key U.S. energy markets.

Source: Oklahoma Energy Today

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Ranger Land & Minerals curates weekly insights from across the oil and gas industry to keep our readers informed. To receive news like this directly in your inbox, join our free newsletter. If you’d like to learn more about mineral rights and oil royalty opportunities, contact us to speak with a representative.
DISCLAIMER: The summary above is based on information from third-party sources believed to be reliable, but its accuracy and completeness cannot be guaranteed. It is provided for general informational purposes only and does not constitute investment, financial, tax, legal, or other professional advice, nor a recommendation or solicitation to buy or sell any security, commodity, or investment product. Markets, regulations, and circumstances can change, and the information may not reflect the most current developments. You should conduct your own research and consult a qualified financial advisor, CPA, or other professional before making decisions based on this content. The publisher and its affiliates disclaim any liability for losses or damages arising from reliance on the information provided above.
Scientists say vast recoverable oil and natural gas reserves remain in a long-producing Texas rock formation.

USGS identifies additional Texas oil and gas resources

Chron reports that the U.S. Geological Survey has released a new assessment of the Buda Limestone, a long-producing formation in Texas. The federal agency estimates that the formation still contains about 12 million barrels of technically recoverable oil and 184 billion cubic feet of natural gas that have not yet been discovered.

The assessed area includes portions of South and East Texas, with activity centered west and southwest of Houston and extending toward the East Texas Basin. According to the report, the Buda Limestone has already produced roughly 204 million barrels of oil and 287 billion cubic feet of natural gas since production began around 1930.

For mineral owners, operators, and investors, the assessment provides updated context on remaining resource potential in a mature Texas formation. Chron noted that the newly identified volumes are smaller than estimates for major areas such as the Permian Basin, but they still add to the broader picture of U.S. oil and gas resource development.

Source: Chron

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Ranger Land & Minerals curates weekly insights from across the oil and gas industry to keep our readers informed. To receive news like this directly in your inbox, join our free newsletter. If you’d like to learn more about mineral rights and oil royalty opportunities, contact us to speak with a representative.
DISCLAIMER: The summary above is based on information from third-party sources believed to be reliable, but its accuracy and completeness cannot be guaranteed. It is provided for general informational purposes only and does not constitute investment, financial, tax, legal, or other professional advice, nor a recommendation or solicitation to buy or sell any security, commodity, or investment product. Markets, regulations, and circumstances can change, and the information may not reflect the most current developments. You should conduct your own research and consult a qualified financial advisor, CPA, or other professional before making decisions based on this content. The publisher and its affiliates disclaim any liability for losses or damages arising from reliance on the information provided above.
The total number of active drilling rigs for oil and gas in the US rose to 573 this week, up 26 from a year ago, according to Baker Hughes.

U.S. Rig Count Rises as Hormuz Transit Resumes

U.S. oil and gas drilling activity increased in the latest weekly report, according to OilPrice.com, citing Baker Hughes data released Friday. The total U.S. rig count rose to 573, which is 26 higher than the same period last year. Oil rigs increased by seven to 440, while gas rigs rose by three to 125. Miscellaneous rigs were unchanged at eight.

The report also noted that U.S. crude output averaged 13.819 million barrels per day for the week ending June 19, up slightly from 13.806 million barrels per day the prior week and 384,000 barrels per day above year-earlier levels. Completion activity was steady, with Primary Vision’s frac spread count unchanged at 192 crews. In key producing regions, the Permian Basin added two rigs to reach 258, while the Eagle Ford held at 44.

For readers tracking factors affecting oil prices and oil and gas royalties, the data offers a snapshot of U.S. supply activity as markets also watch shipping conditions around the Strait of Hormuz. OilPrice.com reported Brent at $71.90 per barrel and WTI at $69.43 during Friday trading.

Source: OilPrice.com
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Ranger Land & Minerals curates weekly insights from across the oil and gas industry to keep our readers informed. To receive news like this directly in your inbox, join our free newsletter. If you’d like to learn more about mineral rights and oil royalty opportunities, contact us to speak with a representative.
DISCLAIMER: The summary above is based on information from third-party sources believed to be reliable, but its accuracy and completeness cannot be guaranteed. It is provided for general informational purposes only and does not constitute investment, financial, tax, legal, or other professional advice, nor a recommendation or solicitation to buy or sell any security, commodity, or investment product. Markets, regulations, and circumstances can change, and the information may not reflect the most current developments. You should conduct your own research and consult a qualified financial advisor, CPA, or other professional before making decisions based on this content. The publisher and its affiliates disclaim any liability for losses or damages arising from reliance on the information provided above.
The Trump administration has proposed offering nearly 80,000 acres in northwestern Arizona for oil and gas drilling.

BLM targets NW Arizona for 78k acre oil and gas lease

The Bureau of Land Management has opened a 30-day public scoping period for 40 oil and gas parcels covering 78,708 acres in northwestern Arizona, according to the Arizona Republic. The parcels may be included in a December 2026 lease sale, with public comments accepted through June 11, 2026. The acreage is located near the Nevada and Utah borders and would mark Arizona’s first federal oil and gas lease sale since 2018.

For readers tracking federal oil and gas leasing, the proposal highlights how leasing is an early step in the development process rather than approval to drill. Operators would still need to submit drilling permit applications and go through additional review before any development could move forward. The article also notes that some geologists and public lands observers have questioned the area’s production potential based on past exploration results, making the proposal relevant for investors watching acreage availability, leasing policy, and long-term resource evaluation.

Source: Arizona Republic
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Ranger Land & Minerals curates weekly insights from across the oil and gas industry to keep our readers informed. To receive news like this directly in your inbox, join our free newsletter. If you’d like to learn more about mineral rights and oil royalty opportunities, contact us to speak with a representative.
DISCLAIMER: The summary above is based on information from third-party sources believed to be reliable, but its accuracy and completeness cannot be guaranteed. It is provided for general informational purposes only and does not constitute investment, financial, tax, legal, or other professional advice, nor a recommendation or solicitation to buy or sell any security, commodity, or investment product. Markets, regulations, and circumstances can change, and the information may not reflect the most current developments. You should conduct your own research and consult a qualified financial advisor, CPA, or other professional before making decisions based on this content. The publisher and its affiliates disclaim any liability for losses or damages arising from reliance on the information provided above.
Permian Basin oil output to grow modestly in 2026, per East Daley analysis of 14 public operators’ guidance.

ExxonMobil leads Permian growth outlook for 2026

Midland Reporter-Telegram reports that Permian Basin oil production is expected to grow modestly in 2026, based on East Daley Analytics’ review of guidance from 14 public operators. The firm’s survey points to an increase of 183,000 barrels per day, or 2.7%, across the group. ExxonMobil accounts for the largest share of that outlook, with projected growth of 113,000 barrels per day as it continues expanding its Permian program.

Rich Dealy, ExxonMobil’s vice president for the Permian Basin, said the company’s growth plans remain unchanged following its merger with Pioneer Natural Resources. ExxonMobil holds about 1.5 million acres in the region and continues to focus on longer laterals, cube development, new technology, trades, and bolt-on acquisitions. The company’s stated goal is to reach 2 million barrels per day from the Permian by the end of 2030. For readers tracking oil well production and broader Texas oil production, the figures highlight how large operators continue to shape regional output trends.

Outside ExxonMobil, East Daley’s analysis indicates more moderate growth, with Permian Resources guiding for 6% and Occidental forecasting 3.6%. The report also notes that many public companies are still emphasizing capital discipline, with any increase in drilling activity likely taking months before it reaches production, pipelines, and refiners.

Source: Midland Reporter-Telegram
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Ranger Land & Minerals curates weekly insights from across the oil and gas industry to keep our readers informed. To receive news like this directly in your inbox, join our free newsletter. If you’d like to learn more about mineral rights and oil royalty opportunities, contact us to speak with a representative.
DISCLAIMER: The summary above is based on information from third-party sources believed to be reliable, but its accuracy and completeness cannot be guaranteed. It is provided for general informational purposes only and does not constitute investment, financial, tax, legal, or other professional advice, nor a recommendation or solicitation to buy or sell any security, commodity, or investment product. Markets, regulations, and circumstances can change, and the information may not reflect the most current developments. You should conduct your own research and consult a qualified financial advisor, CPA, or other professional before making decisions based on this content. The publisher and its affiliates disclaim any liability for losses or damages arising from reliance on the information provided above.
A majority of oil and gas executives expect U.S. oil production to increase, driven by geopolitics and flexible Permian Basin producers.

U.S. oil output seen rising as conflict reshapes outlook

According to a recent report from Rigzone, a majority of oil and gas executives expect U.S. crude production to increase, influenced in part by ongoing geopolitical tensions. Survey findings indicate that market participants anticipate higher domestic output as operators respond to shifting global supply dynamics and pricing signals. Executives cited the ability of U.S. producers—particularly in key regions like the Permian Basin—to adjust activity levels relatively quickly compared to international competitors.

The report highlights that sustained demand and supportive price conditions are encouraging companies to maintain or expand drilling programs. This flexibility is often tied to advancements in shale development and operational efficiency, which allow producers to bring new wells online faster. For investors, this environment reinforces the importance of understanding production trends and regional performance, including metrics like average natural gas well production, which can vary significantly depending on basin and operator strategy.

While executives recognize potential challenges such as cost pressures and regulatory considerations, the overall sentiment points toward steady or rising output levels in the near term. This outlook reflects confidence in the U.S. oil sector’s ability to respond to market conditions, supported by existing infrastructure and ongoing investment in development activity.

Source: Rigzone
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Ranger Land & Minerals curates weekly insights from across the oil and gas industry to keep our readers informed. To receive news like this directly in your inbox, join our free newsletter. If you’d like to learn more about mineral rights and oil royalty opportunities, contact us to speak with a representative.
DISCLAIMER: The summary above is based on information from third-party sources believed to be reliable, but its accuracy and completeness cannot be guaranteed. It is provided for general informational purposes only and does not constitute investment, financial, tax, legal, or other professional advice, nor a recommendation or solicitation to buy or sell any security, commodity, or investment product. Markets, regulations, and circumstances can change, and the information may not reflect the most current developments. You should conduct your own research and consult a qualified financial advisor, CPA, or other professional before making decisions based on this content. The publisher and its affiliates disclaim any liability for losses or damages arising from reliance on the information provided above.