Shale Drilling Climbs to Levels Not Seen Since Early Weeks of Pandemic

Benchmark US oil futures have risen almost 30% this year amid rebounding energy demand and supply disruptions around the world.

Closely held oil drillers are leading the production rush in the Permian Basin as they aim to catch the acquisitive eye of public rivals looking to expand. Chevron Corp. told investors on Friday they can do more with less equipment, given that a single rig now can do the same work that required two as recently as 2018.