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Permian Basin Oil and Gas Magazine

PBOG is the Official Publication of the Permian Basin Petroleum Association and is published monthly by Zachry Publications, LP.

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Baker Hughes: New Mexico only state to add drilling rig in past week

July 16, 2020 by PBOG

Baker Hughes’ count of active oil and gas drilling rigs fell for the 18th consecutive week in U.S. and 17th in Permian Basin as of July 10. U.S. count fell to 258 rigs (263 week ago, 958 year ago), and Permian Basin count fell to 125 (126 week ago, 437 year ago). All 5 rigs pulled from the oilfields came from Texas (107 rigs, 112 week ago, 456 year ago). New Mexico was only major producing state to add at least 1 rig in the past week (49 rigs, 48 week ago, 102 year ago). Reuters said the U.S. count is a record low for the 10th straight week.
Other leading regions are Haynesville with 33, Marcellus with 27, Williston with 10 and Eagle Ford with 9. Other leading states are Louisiana with 31, Pennsylvania with 22, and Oklahoma and North Dakota with 10 each. Haynesville in east Texas and north Louisiana has emerged as top destination for natural gas drilling rigs.
Oslo-based research firm Rystad Energy said Tuesday it expects global energy companies to drill about 55,350 wells this year – the lowest in about 20 years and a 23 percent decline from almost 72,000 wells drilled worldwide last year.

Filed Under: PBOG Newsletter, Rig Count Reports Tagged With: Baker Hughes, permian basin, rig counts

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