Baker Hughes’ rig count in Permian Basin as of July 14 fell by 5 in the previous week to 337 rigs – its lowest count of rigs in 14 months since May 2022. There were 350 rigs in Permian Basin a year ago and 353 to start 2023. Also there were 329 rigs in Texas (337 previous week, 365 year ago), 113 in New Mexico (111 previous week, 110 year ago) and 675 in U.S. (680 previous week, 756 year ago). Texas’ loss of 5 rigs in the past week was the largest among major producing states.
Louisiana remains No. 3 among states with 51 rigs (50 previous week, 62 year ago) followed by Oklahoma with 39 (40 previous week, 63 year ago) and North Dakota with 35 (34 previous week, 36 year ago). Eagle Ford in south Texas remains No. 2 among regions with 59 rigs (60 previous week, 69 year ago) followed by Haynesville with 45 (46 previous week, 68 year ago), and Marcellus and Williston with 35 each.
Lea County, N.M., continues to lead Permian Basin with 59 rigs (up 2 in previous week), and Eddy, N.M., is runner-up with 52 rigs (unchanged in past week). Other Permian leaders include Martin with 45 (down 1), Midland with 35 (down 1), Reeves with 31 (up 1), Loving with 23 (down 2), Ward with 17 (down 1), Upton with 11 (down 1), and Andrews and Reagan each with 10 (each down 1).