Baker Hughes’ count of active drilling rigs in U.S. fell for the seventh straight week in the weekly report for Aug. 25. There were 632 rigs in U.S. – down 10 in the past week and down 133 (17.4 percent) in the past year from 765. Also, there were 320 rigs in Permian Basin (down 7 in past week, down 28 or 8.0 percent in past year from 348), 307 in Texas (down 5 in past week, down 64 or 17.3 percent in past year from 371) and 107 in New Mexico (down 5 in past week, up 1 in past year). The Texas and U.S. counts are lowest since February 2022. U.S. count has fallen from 680 in the past seven weeks.
Eagle Ford remains No. 2 among regions with 52 rigs (down 1 in past week, down 18 in past year) followed by Haynesville with 41 (down 2 in past week, down 29 in past year), Williston with 33 (unchanged in past week) and Marcellus with 31 (up 1 in past week). Louisiana remains No. 3 among states with 42 rigs (down 3 in past week, down 23 in past year) followed by Oklahoma with 39 (up 1 in past week, down 26 in past year) and North Dakota with 33 (unchanged in past week, down 4 in past year).
Rig count in top three counties in Permian Basin declined in the past week. Lea, N.M., leads with 63 (down 2) followed by Eddy, N.M., with 42 (down 3) and Martin with 37 (down 1). Other Permian leaders include Midland with 29 (up 1), Reeves with 27 (up 1), Loving with 25 (up 2), Ward with 17 (down 1), Glasscock with 12 (unchanged) and Reagan with 11 (unchanged).