Trump Said 'Drill, Baby, Drill' — The Answer Came From Companies You've Never Heard Of
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After Trump's "drill, baby, drill" call, JPMorgan data reveals that private shale operators are increasing rig counts while public oil companies are reducing theirs. Private firms now account for 42% of U.S. horizontal drilling activity, with notable increases in regions outside the Permian Basin. This shift reflects a strategy change among public producers, who prioritize capital discipline over aggressive growth, allowing private drillers to lead new activity. The impact may be felt in oilfield services, as companies like Helmerich & Payne and Nabors Industries benefit from this trend.
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