Private E&Ps, Permian-based independents and majors are leading the supply surge
Letter from Houston: Lower 48 outlook strengthening
Climbing commodity prices and rampant drilling activity are lifting shale production guidance
The US onshore industry received a shot in the arm this year with oil markets remaining close to the $80/bl mark, driven by expectations of stable demand growth and economic activity steadily ramping up around the world. The horizontal oil rig count is up by nearly 130pc from a year earlier, and current prices make drilling economic across most onshore regions. While the top-producing Permian basin remains the most active play by far, south Texas’ Eagle Ford, the Bakken, the DJ and Powder River basin and other positions have all seen a steady clip of expansion, boosting their contribution to the country’s onshore operations. The number of active counties (counties with at least one horizonta
Also in this section
9 April 2026
The April 2026 issue of Petroleum Economist is out now!
9 April 2026
Offshore operators are working through an FID backlog as the rig market consolidates, helped by improving project economics and a renewed security drive
2 April 2026
Alongside a rapid continued build-out of renewables, China’s latest five-year plan stresses the value of domestic hydrocarbon production for energy security and calls for increased Russian gas imports
2 April 2026
The government is taking important steps to revive domestic production, lift investment and benefit from the geopolitical crisis even if more needs to be done in the longer term
