Executive Summary
The Permian Basin continued to demonstrate its resilience in the twelve-month period through June 30, 2026 (the review period). Despite a modest decline in rig counts, production reached new highs as operators continued to emphasize capital discipline, drilling efficiencies, and productivity improvements. Heightened geopolitical tensions introduced considerably greater volatility into commodity markets during the latter portion of the review period, yet oil prices ended above year-earlier levels and Permian public companies posted strong stock price appreciation. While basin operators continue to balance disciplined capital allocation with long-term production growth, the Permian remains the nation’s premier oil-producing basin and continues to demonstrate its ability to adapt to changing market conditions.
Also in this Issue
Oil and Gas Commodity Prices
Macro Update: “The Pendulum Is Swinging: Reserve Life Matters Again
Region Focus: Permian Basin
Production and Activity Levels
Financial Performance
Market Valuations & Transaction History
Selected Public Company Information
Production Update
Rig Count