Count of active drilling rigs in U.S. declined for the third straight week and fourth time in the last five weeks, according to weekly report of Aug. 30 by Baker Hughes. There were 503 rigs in U.S. (down 2 from 505 previous week, down 48 from 585 year ago). Rig count also declined in Permian Basin to 305 from 306 previous week and 319 year ago. Baker Hughes also reported 274 rigs in Texas (unchanged in past week, down from 306 year ago) and 105 in New Mexico (106 previous week, 107 year ago).
Lea County, N.M., remained atop the Permian Basin with 52 rigs (unchanged in previous week). None of the top 9 counties in Permian added rigs in the past week. Other leaders include Eddy, N.M., with 49 (down 1) followed by Martin with 31 (unchanged), Reeves with 28 (unchanged), Loving with 21 (unchanged) and Midland with 20 (unchanged). Also, Reagan has 15 rigs, Upton 14 and Howard 11 (down 1).
Louisiana is No. 3 among states with 40 rigs (39 week ago, 42 year ago) followed by Oklahoma with 39 (38 week ago, 39 year ago) and North Dakota with 33 (33 week ago, 33 year ago). Eagle Ford in south Texas is No. 2 among regions with 48 rigs (47 week ago, 50 year ago) followed by Williston with 34 (34 week ago, 33 year ago), Haynesville with 32 (33 week ago, 41 year ago) and Marcellus with 23 (25 week ago, 30 year ago).
In the first eight months of 2024, rig counts are down in Permian (from 309 to 305), Texas (from 309 to 274) and U.S. (from 622 to 503), but up in New Mexico (to 105 from 97).