Thursday, June 5, 2025

EnerCom Effective Rig Count Rises to 1,765

Utica rigs have seen largest productivity increase EnerCom released its EnerCom Effective Rig Count today. Launched in January, the Effective Rig Count seeks to account for improved productivity from recent development. New technologies and techniques have allowed wells to be drilled faster and produce more hydrocarbons. Each rig yields greater production now than it did before the downturn. Based on

ConocoPhillips Divests $3 Billion in U.S. Gas Assets

1.3 million acres in the San Juan basin sold to Hilcorp for $2,300/acre ConocoPhillips (ticker: COP) announced the sale of its San Juan Basin assets for $3 billion, the second large sale by the company in the last month. Privately held Hilcorp Energy will purchase about 1.3 million acres from ConocoPhillips, giving it properties in Colorado and New Mexico. ConocoPhillips’