Drillers in Texas and U.S. idled more rigs last week, according to the weekly report of May 24 from Baker Hughes. Texas’ count of active drilling rigs was 287 – down 3 in the past week, down 72 in the past year. The U.S. count of 600 was down 4 in the past week and down 111 in the past year. Also, there were 312 rigs in Permian Basin (unchanged in past week, down 38 in past year) and 108 rigs in New Mexico (up 1 in past week, unchanged from a year ago).
Last week none of the Permian’s top 10 counties added rigs, but this week four of the top 10 added rigs. Eddy (down 1 to 54 rigs) and Lea (up 1 to 50) in New Mexico continue to lead Permian Basin. Other leaders include Martin (down 1 to 32), Loving (up 1 to 23) and Reeves (down 1 to 23). Also, there are 21 rigs in Midland (unchanged), 18 in Upton (up 1), 14 in Upton (unchanged), 10 in Howard (up 1) and 10 in Ward (unchanged).
Oklahoma is No. 3 among states with 43 rigs (down 1 in past week, down 3 in past year) followed by Louisiana with 41 (up 1 in past week, down 13 in past year) and North Dakota with 32 (unchanged in past week, down 5 in past year). Eagle Ford in south Texas remains No. 2 among regions with 50 rigs (down 1 in past week, down 10 in past year) followed by Haynesville with 36 (up 1 in past week, down 18 in past week), Williston with 34 (unchanged in past week, down 4 in past year) and Marcellus with 26 (down 3 in past week, down 13 in past year).