Drilling activity is steadily returning to pre-pandemic levels in Texas
Private operators drive Permian recovery
Strong market conditions are encouraging private producers in Texas and New Mexico to lift drilling activity
All the signs are positive for US shale. The WTI crude benchmark has broken through the $80/bl ceiling for the first time in seven years and the rig count has more than doubled since last October. The post-Covid recovery is well and truly gaining momentum. Strong oil prices have compelled producers to work through their backlog of drilled-but-uncompleted wells, as showcased by the rapidly rising rig count. Last week, the rig count climbed to 533, its highest recorded level since early April last year when the pandemic first started to sink drilling activity. And the Permian basin—the bulwark of Lower 48 oil production—is leading the recovery. The rig count in the basin has recently soared
Also in this section
11 March 2026
De la Rey Venter, CEO of LNG player MidOcean Energy, discusses strategy, project developments and the prospects for the LNG market
10 March 2026
From Venezuela to Hormuz, the US—backed by the most powerful military force ever assembled—is redrawing not only oil and gas flows but also the global balance of energy power
10 March 2026
By shutting the Strait of Hormuz, Iran has cut exports of distillate-rich Middle Eastern crude, jet fuel and diesel, and is holding the energy market hostage
10 March 2026
Eni’s director for global gas and LNG portfolio, Cristian Signoretto, discusses how demand will respond to rising LNG supply, and how the company is expanding its own gas and LNG operations through disciplined, capital-efficient investments
