The count of active oil and gas drilling rigs in Permian Basin fell again last week for the ninth time in the last 12 weeks. According to the July 21 report from Baker Hughes, there are 333 rigs in Permian Basin (down 4 in the past week, down 16 from a year ago). Since adding rigs during each week of April, rig count in Permian Basin has fallen by 28 rigs from 361 to 333. The count is the lowest since April 2022.
As of July 21, there were 322 rigs in Texas (down 7 in past week, down 43 in past year), 113 rigs in New Mexico (unchanged in past week, up 4 in past year) and 669 rigs in U.S. (down 6 in past week, down 89 in past year).
Louisiana remains No. 3 among states with 49 rigs (down 2 in past week, down 15 in past year) followed by Oklahoma with 40 (up 1 in past week, down 23 in past year) and North Dakota with 35 (unchanged in past week, down 1 in past year). Eagle Ford in south Texas reported 57 rigs (down 2 in past week, down 13 in past year) to rank second among regions followed by Haynesville with 44 (down 1 in past week, down 24 in past year), and Marcellus and Williston each with 35 (both unchanged in past week).
Lea County, N.M., added a rig last week to remain the Permian leader with 60. Eddy, N.M., is runner-up with 51 rigs. Other basin leaders include Martin with 42 (down 3), Midland with 33 (down 2), Reeves with 30 (down 1), Loving with 22 (down 1), Ward with 16 (down 1), and Glasscock (up 7) and Upton (down 1) each with 10.