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US Mineral Market Activity Index

An objective 0–100 score of how active oil & gas drilling is across the 11 top US mineral states right now — from permits, DUC inventory, spuds, and new producers. Buckhead Energy analysis of public oil and gas data, refreshed daily. Oklahoma is listed but not scored while its drilling counts are reconciled with state records, and is left out of the national average.

As of

The Index in One Sentence

As of November 9, 2026, Texas leads the US Mineral Market Activity Index with a score of 100/100, ahead of New Mexico (45); the 11-state national reading is 20/100 — a relative measure of current drilling activity, from Buckhead Energy analysis of public oil and gas data.

Activity Score by State

#StateActivity ScorePermits 12moDUCsSpuds 12moFirst Production 12mo
1 Texas
100
8,421 5,236 3,747 3,960
2 New Mexico
45
3,550 2,075 1,972 1,772
3 Kansas
15
559 2,495 275 13
4 North Dakota
14
1,009 866 690 429
5 California
14
4,002 147 40 169
6 Colorado
13
728 745 668 523
7 Wyoming
8
684 569 323 204
8 Utah
8
860 497 331 176
9 Ohio
3
466 26 7 150
10 Mississippi
1
199 25 0 0
11 Illinois
1
131 — 0 0
— Oklahoma
—
— 861 — —

Oklahoma drilling counts are being reconciled with state records and will return here once verified. For current filings, use the Oklahoma Corporation Commission well data finder.

Score = each metric scored 0–100 relative to the leading state, then averaged. Each state links to its dated drilling report. See also the US Mineral & Drilling Activity Index (raw national rollup). Oklahoma is listed but not scored while its drilling counts are reconciled with state records, and is left out of the national average.

Methodology

For each state we take four forward-looking activity signals from Buckhead Energy analysis of public oil and gas data — drilling permits over the last 12 months, current drilled-but-uncompleted (DUC) inventory, wells spudded in the last 12 months, and wells brought onto first production in the last 12 months. Each metric is scored 0–100 relative to the most active state, then the four are equal-weight averaged into the state's composite. The national reading is the mean of the state scores. The underlying data refreshes daily; every figure carries the as-of date above. This is an objective measure of market activity — not a valuation, price, or recommendation to buy or sell. Oklahoma is listed but not scored while its drilling counts are reconciled with state records, and is left out of the national average.

Frequently Asked Questions

What is the US Mineral Market Activity Index?

An objective 0–100 score of how active oil & gas drilling is in each of the 11 top US mineral states right now — Texas, Oklahoma, New Mexico, North Dakota, Colorado, Wyoming, California, Kansas, Mississippi, Utah, and Illinois. Each state is scored from four forward-looking signals (drilling permits, DUC inventory, recent spuds, and newly producing wells) — Buckhead Energy analysis of public oil and gas data, refreshed daily. Oklahoma is listed but not scored while its drilling counts are reconciled with state records, and is left out of the national average.

How is the score calculated?

Each of the four metrics is scored 0–100 relative to the most active state, then averaged (equal weight) into a state composite. 100 means a state leads on every measure. It is a relative, reproducible measure of current drilling activity — not a price, valuation, or recommendation. Oklahoma is listed but not scored while its drilling counts are reconciled with state records, and is left out of the national average.

Which state has the most oil & gas drilling activity?

As of November 9, 2026, Texas leads the index with a score of 100/100, followed by New Mexico (45). See the full ranking below; each state links to its dated drilling report.

Where does the index data come from?

The figures are Buckhead Energy analysis of public oil and gas data. They are reference data, not a valuation, appraisal or investment advice.

Does a high score mean it is a good time to sell?

Not by itself. The index measures market activity, not your personal timing. Whether to sell depends on your wells, decline, prices, and goals — see our per-state "is now a good time to sell" pages, and request a free written offer for your specific minerals.

Source: Buckhead Energy analysis of public oil and gas data. Data as of .

Machine-readable: /api/v1/us-drilling-activity-index · daily freshness feed: /data-updates.json

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