Baker Hughes’ weekly count of active oil and gas drilling rigs started 2020 where it spent most of 2019 – with declining counts in Permian Basin, Texas, New Mexico and U.S. The U.S. count lost 9 rigs in the past week to return to below 800 at 796 (it also was below 800 in early December before rebounding to 813 in the Dec. 20 report). It has declined 58 percent from a peak of 1,609 rigs in October 2014. In the past week, Permian Basin lost 2 rigs for a new total of 403, Texas lost 1 rig also for a total of 403, and New Mexico lost 1 rig for a new total of 104.
Eddy County (52 rigs) in New Mexico, Midland County (51) and Lea County (51), N.M., lead the Permian Basin followed by Reeves with 45, Loving with 37, Martin with 31, Howard with 24 and Ward with 22.
Rig counts as of Jan. 3 in other leading states include Louisiana with 58 rigs (unchanged in past week), Oklahoma with 51 (down 1 in past week) and North Dakota with 50 (unchanged). Other leading regions include Eagle Ford with 67 rigs (unchanged), Williston with 52 (unchanged), Haynesville with 49 (unchanged) and Marcellus with 40 (down 1 in past week).