U.S. count of active drilling rigs fell for the fourth straight week, according to Baker Hughes in its weekly report of April 12. The U.S. count declined by 3 in the past week to 617 (down 134 in the past year). Baker Hughes also said as of April 12 there were 316 rigs in Permian Basin (down 1 in past week, down 37 in past year), 294 in Texas (down 3 in past week, down 83 in past year) and 109 in New Mexico (up 1 in past week, up 6 in past year). It’s the first four-week decline in U.S. since August-September 2023.
Oklahoma remains No. 3 among states with 44 rigs (unchanged in past week, down 14 in past year) followed by Louisiana with 39 (unchanged in past week, down 17 in past year) and North Dakota with 32 (unchanged in past week, down 8 in past year). Eagle Ford in south Texas remains No. 2 among regions with 55 (down 1 in past week, down 15 in past year) followed by Haynesville with 34 (unchanged in past week, down 32 in past year), Williston with 34 (unchanged in past week, down 7 in past year) and Marcellus with 30 (unchanged in past week, down 10 in past year).
Eddy County, N.M., added 1 rig last week to continue to lead Permian Basin with 59 rigs. Lea County, N.M., is runner-up with 47 (unchanged) followed by Martin with 37 (unchanged), Loving with 23 (unchanged) and Midland with 22 (up 1). Also, there are 21 rigs in Reeves (down 1), 18 in Upton (up 1), 13 each in Reagan and Ward, 12 in Howard and 11 in Culberson.