Texas dropped 2 rigs in the past week to fall below 300 active drilling rigs for the first time since October 2023. Baker Hughes reported as of Feb. 16 there were 299 rigs in Texas (301 previous week, 370 year ago), 312 in Permian Basin (313 previous week, 352 year ago), 101 in New Mexico (unchanged in past week, 108 year ago) and 621 in U.S. (623 previous week, 760 year ago).
New Mexico counties of Eddy with 54 rigs and Lea with 44 are the Permian leaders (both unchanged in past week). Others in the top five are Martin with 37 (unchanged), Reeves with 28 (unchanged) and Loving with 23 (up 1). Midland (down 3) and Upton (up 2) have 19 rigs each followed by Reagan with 14 (up 1), Ward with 13 (down 1) and Howard with 12 (up 1).
Louisiana is third among states with 45 rigs (unchanged in past week, 64 year ago) followed by Oklahoma with 42 (up 1 in past week, 64 year ago) and North Dakota with 32 (unchanged in past week, 41 year ago). Oklahoma was only major producing state reporting an additional rig this week. Eagle Ford in south Texas remains runner-up among regions with 52 rigs (unchanged in past week, 71 year ago) followed by Haynesville with 43 (up 1 in past week, 70 year ago), Williston with 34 (unchanged in past week, 42 year ago) and Marcellus with 31 (unchanged in past week, 36 year ago).