The counts of active drilling rigs in U.S. as of June 16 fell for the seventh consecutive week and for the sixth time in the last seven weeks in Permian Basin. Baker Hughes said there are 342 rigs in Permian Basin (down 4 in past week, down 3 in past year), 347 in Texas (unchanged in past week, down 9 in past year), 104 in New Mexico (down 4 in past week, down 6 in past year) and 687 in U.S. (down 8 in past week, down 53 in past year). Gas-directed rigs in U.S. fell to 130 – lowest since March 2022. Permian’s count of 342 is its lowest since September 2022. U.S. count is down from 755 in seven weeks.
Top five counties in Permian Basin are Eddy, N.M., with 54 (down 1 in past week), Lea, N.M., with 49 (down 3), Martin with 42 (unchanged), Reeves with 36 (up 2) and Midland with 35 (up 2). Others include Loving with 26 (up 2), Ward with 17 (down 1), Reagan with 14 (unchanged), Upton with 13 (unchanged) and Andrews with 12 (down 1).
Louisiana remains No. 3 among states with 50 rigs followed by Oklahoma with 42 and North Dakota with 36. Eagle Ford remains No. 2 among regions with 60 rigs followed by Haynesville with 51, Williston with 36 and Marcellus with 35.