Ten counties in the Permian Basin drove 93% of US crude oil growth from 2020–2024, EIA and Enverus data show.

America’s oil boom concentrated in ten Permian counties

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If you want to know where America’s oil boom is happening, no need to look at the whole map—because it’s limited to just ten counties in the Permian Basin. Between 2020 and 2024, these small dots in Texas and New Mexico delivered 93% of all U.S. crude oil growth, according to the latest EIA and Enverus data.

It’s almost like the rest of the US doesn’t even matter when it comes to oil production growth.

The U.S. added 1.9 million barrels per day (bpd) of new crude and condensate output over that stretch. But nearly all of it came from Lea and Eddy counties in New Mexico, plus Martin and Midland on the Texas side. Lea and Eddy alone punched out almost 1 million bpd of growth—more than half the national total. That puts two dusty counties in New Mexico on par with the production increases seen from OPEC heavyweights like Iraq or the UAE in their strongest years.

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Source: Oil Price

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According to the impact report, the Permian Basin generated $119B for the US economy in 2024 and supported more than 862,250 jobs.

Permian Basin drives $119B in US economic impact, report finds

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Only a small percentage — 1.6% — of Texans and New Mexicans reside in the Permian Basin, but the region has an outsized economic impact.

The Permian Strategic Partnership (PSP) has released its 2024 Economic Impact Report, highlighting the region’s essential role in supporting critical government functions such as public education and teacher support, police and fire departments, roadside safety, community hospitals and universities.

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Source: mrt

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US liquids production hit a record of 20.83M bpd in April, up roughly 50K barrels from March, per latest EIA Petroleum Supply Monthly report.

US oil and gas production reached record highs in April, says EIA

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Total U.S. liquids production eked out a record-high of 20.83 million barrels a day (bpd) in April, up roughly 50,000 barrels from the previous month, according to the U.S. Energy Information Administration’s latest Petroleum Supply Monthly report released on Monday.

The number, which includes crude oil and natural gas liquids, came in roughly 340,000 barrels higher than a previous estimate for the month of April.

U.S. diesel demand, a closely watched measure of the country’s economic health, was higher in April than early weekly estimates, the EIA also noted in its monthly report.

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Source: World Oil

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Lawmakers tour Permian Basin oil sites to shape energy policy, promote jobs, and support US energy dominance and innovation.

Lawmakers tour Permian Basin oil sites, discuss energy policy and jobs

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Rep. August Pfluger continues to escort fellow members of Congress to the Permian Basin on a tour of the region’s oil and gas operations.

This week, members of the House Committee on Energy and Commerce visited a hydraulic fracturing site and held a roundtable discussion with members of local energy companies.

“The purpose is the same as it has been the last five years,” said the Texas Republican, whose District 11 encompasses the Permian Basin. “They came to see how the energy space works. The Permian Basin literally provides the foundation of our economy.”

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Source: mrt

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Revenues from oil and natural gas leases on onshore federal lands totaled $8.497B in 2023, according to a new Congressional Research Service.

Federal oil & natural gas leasing revenue tops nearly $8.5 billion in 2023

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Revenues from oil and natural gas leases on onshore federal lands totaled $8.497 billion in 2023, according to a new Congressional Research Service (CRS) report. In fact, oil and natural gas leasing represents a whopping 93 percent of the total federal revenue from all leasable minerals and geothermal on onshore federal lands.

In the past ten years, these revenues have consistently increased, exemplifying the ongoing, strong contributions the industry provides to the United States.

Source: Department of the Interior (DOI), Office of Natural Resources Revenue (ONRR)

The report comes on the heels of a major shift in federal support for oil and gas development on federal lands, with the Trump Administration making significant strides to streamline permitting and increase federal development.

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Source: Energy in Depth

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US DOI announced that it generated over $39 million in total receipts from oil and gas lease sales held in the first quarter of 2025.

USA DOI generates $39MM from 1Q 2025 oil, gas lease sales

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In a statement posted on its site recently, the U.S. Department of the Interior (DOI) announced that it generated over $39 million in total receipts from oil and gas lease sales held in the first quarter of 2025.

The Bureau of Land Management leased 34 parcels totaling 25,038 acres for $39,007,609 in total receipts for its first quarter of fiscal year 2025 oil and gas lease sales, the DOI noted in the statement. The organization highlighted that the Bureau of Land Management held oil and gas lease sales in Montana, North Dakota, New Mexico, Wyoming, and Nevada.

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Source: Rigzone

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In 2024, Texas' oil and gas industry set records in production, job creation, and taxes/royalties paid, per a report by TIPRO.

Report: Texas oil and gas industry broke multiple records in 2024

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The Texas oil and natural gas industry broke multiple records in 2024, from production, to job creation, to taxes and royalties it paid, according to a new report published by the Texas Independent Producers & Royalty Owners Association (TIPRO).

In Texas, the industry led the U.S. in nearly every category, including having the most people employed in the industry.

Texas accounts for 23% of all oil and natural gas jobs in the U.S., supporting 480,460 directly last year, with direct and indirect jobs totaling nearly 2.8 million, according to the analysis.

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Source: AOL

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President Trump campaigned on the promise of “unleashing US energy dominance,” but the reality is that the US has already achieved this goal.

U.S. energy dominance: A decade in the making

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Over the past decade, the U.S. has cemented its position as a global energy leader, excelling in production, innovation, and influence. Here’s a closer look at the evidence behind America’s energy dominance.

Oil Production: A Global Leader
Since 2018, the U.S. has been the world’s top oil producer, outpacing both Saudi Arabia and Russia. In 2023, U.S. crude oil plus condensate production averaged 12.9 million barrels per day (BPD), driven by the shale revolution. Technological advancements in hydraulic fracturing and horizontal drilling unlocked vast reserves in regions like the Permian Basin and Bakken Formation, transforming the U.S. into an energy superpower.

Beyond crude oil, the U.S. also leads in broader categories, including natural gas liquids (NGLs). In 2023, the U.S. accounted for 15.6% of global oil production, with total output (including NGLs) reaching 19.4 million BPD. This put the U.S. more than 8 million BPD ahead of both Saudi Arabia and Russia in total liquids production. The abundant reserves and efficiency of the Permian Basin are a key to the U.S. success, enabling the U.S. to become a net exporter of petroleum products and reducing reliance on foreign oil.

 

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Source: Oil & Gas 360

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Speculators and algorithmic traders are betting on higher oil prices due to expected policy changes under Trump and shifts in EV and oil demand.

Trump’s presidency sparks renewed optimism in oil markets

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Last year’s oil market was dominated by algorithmic trading, amplifying every headline about market oversupply and Chinese demand into price swings that kept crude trapped in a narrow, disappointing range—well below OPEC+’s lofty production-cut goals. This year may not see much of a change in oil’s price amplitude, but the peaks and troughs could grow sharper, setting the stage for some dramatic action.

In the second and third week of December last year, speculators in the United States significantly increased their bets on higher oil prices, Bloomberg reported this week. In fact, in the second to last week of the year, long bets on crude reached the highest in four months, the report said, for a total of close to 183,000 lots. That followed an even more significant increase in bullish positioning in the previous week, when the number of lots hit the highest in a year.

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Source: Oil Price

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Researchers used AI to analyze 45 years of USGS maps, uncovering oil and gas wells not listed in state records in California and Oklahoma.

AI helps researchers dig through old maps to find lost oil and gas wells

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Undocumented orphaned wells pose hazards to both the environment and the climate. Scientists are building modern tools to help locate, assess, and pave the way for ultimately plugging these forgotten relics.

Scattered across the United States are remnants from almost 170 years of commercial drilling: hundreds of thousands of forgotten oil and gas wells. These undocumented orphaned wells (UOWs) are not listed in formal records, and they have no known (or financially solvent) operators. They are often out of sight and out of mind – a hazardous combination.

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Source: BERKELEY LAB

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