The proof is in the numbers.
Crude oil traded above $60 per barrel for most of 2018, and the higher prices resulted in more drilling activity in Texas, data from the Railroad Commission of Texas shows.
Some 1,020 oil and natural gas companies asked state regulators for 13,294 original drilling permits through Dec. 26 of this year. The figures mark two consecutive years of growth for exploration and production activity in Texas.
The Houston oil company EOG Resources was the top Texas driller in 2018 with 556 drilling permits filed, with more than 70 percent in Eagle Ford and 27 percent in the Permian Basin. The Permian, meanwhile, was the top destination in Texas for oil and natural gas companies, accounting for more than 60 percent of drilling permits filed in the state.
The 2018 figures show that the shale revolution is still going strong. Horizontal drilling projects accounted 67 percent of exploration and production activity in Texas while vertical wells accounted for nearly 30 percent.
Permian Basin
Some 407 companies filed 8,039 drilling permit applications for projects in the Permian Basin. Endeavor Energy Resources of Midland was the top company in the region with 440 drilling permit filings. Owned by wildcatter billionaire and reality TV star Autry Stephens, the company has become an acquisition target by major oil companies seeking to boost their presence in the West Texas shale play. More than 69 percent of drilling permit applications filed in the Permian Basin were for horizontal drilling projects.
Top 10 Permian Basin Drillers
Endeavor Energy Resources 440
Pioneer Natural Resources 405
Occidental Petroleum 369
Apache Corporation 289
ExxonMobil 285
Diamondback Energy 230
Parsley Energy 211
Crownquest Operating 185
COG Operating 176
Kinder Morgan 155
Eagle Ford Shale
Some 187 companies filed 2,920 drilling permits for projects in the Eagle Ford Shale of South Texas. EOG Resources was the top company in the region with 392 drilling permit applications. Most of EOG’s leases are in the oil-rich central region of the shale play. With 562 drilling permits, Karnes County was the top destination in the Eagle Ford. More than 90 percent of drilling permits filed in the region were for horizontal drilling projects.
Top 10 Eagle Ford Shale Drillers
EOG Resources 392
ConocoPhillips 200
Sanchez Energy 188
WildHorse Resources 131
Chesapeake Energy 123
Marathon Oil 111
Lewis Energy 106
Carrizo Oil & Gas
EP Energy 99
BP 79
Barnett Shale
Some 142 companies filed for 462 drilling permits in the Barnett Shale of North Texas. The Mexican company PetroBAL was the top driller with 42 permits followed by Devon Energy of Oklahoma with 34. With 86 drilling permits, Jack County was the top destination for oil and natural gas companies in the Barnett. More than 81 percent of drilling permits filed in the region were for vertical drilling projects.
Barnett Shale Top 10 Drillers
PetroBAL 42
Devon Energy 34
Stasney Well Service 27
White Knight Production 23
TEP Barnett USA 19
EnerVest 16
HWH Production 10
Bonfire Operating 7
Bridwell Oil 7
Tied: Basa Resources, Cholla Petroleum, G&F Oil and Willowbend Investments 6
Haynesville Shale
Some 49 companies filed for 407 drilling permits for projects in the natural gas-rich Haynesville Shale of East Texas. Rockcliff Energy of Houston was the top company in the region with 56 drilling permits. Rockcliff is a pure-play Haynesville company that uses horizontal drilling techniques to develop natural gas wells. Nearly two-thirds of drilling permits filed in the region were for horizontal drilling projects.
Haynesville Shale Top 10 Drillers
Rockcliff Energy 56
Sabine Oil & Gas 53
XTO Energy 48
BP 37
CCI East Texas Upstream 25
Tanos Exploration 25
Sheridan Production Company 19
Aethon Energy 17
KJ Energy 14
Covey Park Resources 11
Conventionals
A large amount of exploration and production activity goes on outside of the state’s four shale basins. More than 376 companies filed for 1,466 drilling permits in these conventional oil fields, led by Frostwood Energy of Houston with 85 followed by Hilcorp Energy, also of Houston, with 79. . Founded in April 2016, Frostwood has developed a mix of horizontal and vertical wells in Victoria County and surrounding areas. With 104 drilling permits, Wichita County was the top destination for conventional drillers.
Top 10 Non-Shale Basin Drillers
Frostwood Energy 85
Hilcorp Energy 79
Scout Energy Management 47
Newport Operating 47
North South Oil 27
4P Energy Texas 27
Unit Petroleum Co. 26
Sojourner Drilling Company 26
Tecolote Energy 24
Le Norman Operating 21
Top 10 Texas drillers in 2018
Here’s the most active oil and natural gas companies ranked by drilling permit filings.
EOG Resources 556
Pioneer Natural Resources 455
Endeavor Energy Resources 440
ExxonMobil 400
Occidental Petroleum 369
Apache Corporation 305
Diamondback Energy 230
Parsley Energy 211
ConocoPhillips 200
Sanchez Energy 188
Source: Railroad Commission of Texas