Permian Basin, Texas and U.S. added oil and gas drilling rigs in the past week, Baker Hughes said in its latest report May 7. Permian Basin added 5 rigs for a new total of 229 (198 a year ago, 175 to start 2021), Texas also added 5 rigs to reach 217 (173 a year ago, 161 to start 2021), and the U.S. rig count was up 8 to 448 rigs (374 a year ago, 351 to start 2021). New Mexico’s count was unchanged with 70 rigs (also 70 a year ago, 65 to start 2021).
Midland County added 7 rigs in the past week to reach 30, but it still trails Lea County, N.M., with 38 and Eddy, N.M., with 32. Others include Reeves with 24, Martin with 20, Loving with 17, and Reagan and Upton each with 12.
Enverus said Pioneer Natural Resources currently is the most active operator with 30 rigs, including 9 just acquired from DoublePoint. EOG Resources is running 20 rigs, ConocoPhillips has 17, Devon Energy 15 and Occidental Petroleum 14.
Haynesville remains No. 2 among regions with 49 rigs (45 a week ago, 32 a year ago) followed by Eagle Ford with 33 rigs (34 a week ago, 27 a year ago), Marcellus with 30 rigs (29 a week ago, 30 a year ago) and Williston with 15 rigs (15 a week ago, 20 a year ago). Louisiana remains No. 3 among states with 52 rigs (49 a week ago, 38 a year ago) followed by Oklahoma with 21 (21 a week ago, 13 a year ago) and Pennsylvania with 19 (18 a week ago, 23 a year ago).
“Even though activity has not snapped back to pre-covid levels, the industry feels a lot more healthy,” James West of Evercore said April 30 in an investor note.