ODESSA, Texas (KMID/KPEJ) – As a new year is fast approaching, oil and gas companies are preparing to end the year a shaky, but stable market, according to Financial Advisor Mickey Cargile with Cargile Investments.
“I do think that [Companies] will continue to see the rig count decline some. If that happens, then that’s going to be a little bit harder on our service companies locally. But still, I do think this is going to be an area of growth,” explained Cargile.
According to Cargile, rig counts have continued to decline week after week. Numbers for the week of 12/1/2025 are at 251 active rigs – down 8 from the week prior. Cargile said all eyes are on oil producing jobs to carry the weight.
“While the rig count came down, the amount of production continued to climb, so that shows that oil companies are getting very efficient in how they’re producing oil,” explained Cargile.
As companies continue to strive for that efficiency, Cargile said the price of oil will aim to do the same.
“There’s been a lot of information that would make you think the price would decline more, but it seems like every time we drop below $60, it moves back up to $60. I think that’s encouraging for the future,” said Cargile.
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