New Mexico reported a gain of 4 rigs in the past week in Baker Hughes’ latest weekly report of active drilling rigs, but Texas led major producing states that reported declines with a loss of 6 rigs. As of Oct. 10, there were 100 rigs in New Mexico (up from 96 week ago and 99 year ago) and 238 rigs in Texas (down from 244 week ago and 285 year ago). Also, there were 547 rigs in U.S. (down from 549 week ago and 586 year ago).
Permian Basin reported another decline to 250 from 251 the previous week. Permian’s count is down 47 or 15.6 percent from 285 a year ago. That’s 32 straight weeks of flat or declining rig counts in Permian Basin since February.
New Mexico’s count of 100 is its first in triple digits since May. Third among states is Oklahoma with 40 (down 3 in past week) followed by Louisiana with 39 (up 1) and North Dakota with 28 (up 1). Eagle Ford Shale in south Texas remains second among regions despite a loss of 1 rig to 44 followed by Haynesville with 41 (up 2), Williston with 30 (up 1) and Marcellus with 23 (unchanged).
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