Permian Basin, Texas and U.S. recorded declines in counts of active drilling rigs for the past week, according to the May 5 report from Baker Hughes. Permian was down 5 rigs to 356 (335 year ago), Texas was down 9 rigs to 368 (344 year ago) and U.S. was down 7 rigs to 748 (705 year ago). Permian led major producing regions in losses last week. Texas’ loss was its biggest since September 2022 (after four straight weeks of gains from 352 to 361), and the U.S. loss was its biggest since February 2023. New Mexico was unchanged from last week with 107 rigs (98 year ago).
Louisiana is No. 3 among states with 61 rigs after adding 1 in the past week, Oklahoma reported 54 (also up 1) and North Dakota has 38 (down 1). Other leading regions are Eagle Ford (down 3 to 64 rigs) and Haynesville (down 1 to 62) followed by Marcellus (unchanged at 42) and Williston (down 1 to 39).
Permian’s leading counties remain Eddy (up 2 to 56 rigs) and Lea (down 2 to 49) in New Mexico followed by Reeves (44) and Martin (41) in Texas – both unchanged in past week. Other leaders include Midland (32) and Loving (26) followed by Upton with 17, Howard with 13, Andrews and Ward each with 12, and Reagan with 10.