The latest WellDatabase US Rig Report (dated July 18, 2026) shows the U.S. active drilling rig count at 567, marking a solid +11 week-over-week (WoW) increase and +37 year-over-year (YoY) gain. This reflects resilient drilling activity amid a stable-to-rising trend over the past 12 months, with the count holding in the mid-to-high 500s range. Key […]
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Recent analyst predictions of an impending oil glut and sharply lower prices have gained traction amid falling benchmark crude prices and reports of recovering tanker flows through the Strait of Hormuz. However, a closer look at actual oil movements, inventory dynamics, refinery constraints, and exploration activity suggests these calls may be getting ahead of reality. […]
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The latest U.S. Rig Report from WellDatabase, dated June 12, 2026, shows the total active U.S. rig count at 557 — up 15 rigs week-over-week and +2 year-over-year. This marks a meaningful rebound after a period of relative stability.energynewsbeat.co The increase was driven primarily by oil-directed drilling, with gains concentrated in the Permian Basin and […]
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Devon Energy (NYSE: DVN) has secured a major expansion of its premier position in the Delaware Basin, acquiring 16,300 net undeveloped acres in the core of the play in Lea and Eddy Counties, New Mexico, for approximately $2.6 billion through a Bureau of Land Management (BLM) oil and gas lease sale. The deal, announced on […]
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Houston, TX – May 6, 2026 – EOG Resources, Inc. (NYSE: EOG) delivered a strong beat on first-quarter 2026 estimates, posting adjusted earnings of $3.41 per share and revenue of $6.92 billion while exceeding production guidance midpoints across oil, NGLs, and natural gas. The company also raised its full-year 2026 oil and NGL production outlook […]
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