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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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U.S. adds 6 rigs in past week to break streak of 9 weeks of declining rig count

July 11, 2023 by PBOG

U.S. rig count showed an increase of 6 rigs in the previous week to break a streak of 9 consecutive weeks of declines.  Baker Hughes said as of July 7 there were 680 rigs (674 previous week, 752 year ago) in U.S.  The count declined from 755 to 674 during that nine-week fall.  The count […]

Filed Under: PBOG Newsletter, Rig Count Reports

U.S. rig count declines for fourth week while Permian, Texas counts increase

May 30, 2023 by PBOG

U.S. count of active drilling rigs fell for the fourth consecutive week, but the counts in Permian Basin and Texas reversed their three-week declines by adding rigs last week.  Baker Hughes said as of May 26 there were 711 rigs in U.S., down 9 in the past week from 720 and down 44 in the […]

Filed Under: PBOG Newsletter, Rig Count Reports

EIA forecasts continued growth in Permian oil production to 5.707 million b/d

May 26, 2023 by PBOG

Crude oil production in Permian Basin is forecast to grow to 5.707 million barrels per day in June, according to the latest drilling productivity report from U.S. Energy Information Administration.  That’s an increase of 15,000 b/d from May production of 5.692 million b/d.  In the seven major producing regions, EIA forecasts production to grow by […]

Filed Under: PBOG Newsletter, Rig Count Reports

Texas, NM contribute most growth as U.S. production increases 5.6 percent

May 26, 2023 by PBOG

U.S. Energy Information Administration said last week Texas and New Mexico contributed the most growth as U.S. crude oil production increased 5.6 percent (0.6 million barrels per day) in 2022 compared to 2021.  U.S. averaged 11.9 million b/d in 2022.  EIA said attribute the growth to the Permian Basin.  Crude oil production grew more in […]

Filed Under: PBOG Newsletter, Rig Count Reports, The Financial Picture

U.S. rig count continues decline to 720, now behind count of year ago (728)

May 23, 2023 by PBOG

Rig counts in Permian Basin, Texas and U.S. continue their decline, according to the weekly report of May 19 by Baker Hughes.  And for the first time this year the U.S. count of 720 trails the count of a year ago (728) – and down 11 rigs from the previous week’s count of 731.  Last […]

Filed Under: PBOG Newsletter, Rig Count Reports

Permian Basin records biggest weekly gain in rig count in 14 months

April 14, 2022 by PBOG

Baker Hughes’ count of active oil and gas drilling rigs in Permian Basin posted its largest gain in 14 months (since January 2021) last week with the addition of 9 rigs for a new total of 332 (224 year ago).  That is up 13.3 percent since starting the year with 293 rigs.  As of April […]

Filed Under: PBOG Newsletter, Rig Count Reports

Rig counts remain flat in Permian, Texas, U.S. last week

March 24, 2022 by PBOG

Rig count in Permian Basin, Texas and U.S. was flat last week, according to Baker Hughes.  As of March 18, there were 316 rigs in Permian (216 year ago), 320 in Texas (202 year ago) and 663 in U.S. (411 year ago).  The count in New Mexico declined by 1 last week to 97 (67 […]

Filed Under: PBOG Newsletter, Rig Count Reports

Permian, Texas, New Mexico, U.S. add rigs to reach 2021 high counts

June 17, 2021 by PBOG

Lea County, N.M., added 11 rigs in the past week to return to the top of the count of active oil and gas rigs in Permian Basin. According to the weekly report of June 11 from Baker Hughes, Lea has 44 rigs. Midland added 3 rigs in the past week to move up to second […]

Filed Under: PBOG Newsletter, Rig Count Reports

U.S. count of active rigs above 400 for first time in 10 months

March 4, 2021 by PBOG

U.S. count of active oil and gas drilling rigs climbed above 400 last week for the first time since May 2020. Baker Hughes said as of Feb. 26 there were 402 rigs in U.S. (397 previous week), 208 rigs in Permian Basin (204 previous week), 197 rigs in Texas (194 previous week) and 62 rigs […]

Filed Under: PBOG Newsletter, Rig Count Reports

Rig counts, active fracturing units continue trend of small gains in 2021

January 14, 2021 by PBOG

The trend of increasing counts of active oil and gas drilling rigs continued in first week of 2021. Houston-based oilfield services firm Baker Hughes said as of Jan. 8 U.S. count rose 9 to 360 rigs, Permian added 4 rigs in past week to reach 179, Texas count remained unchanged with 161 rigs, and New […]

Filed Under: PBOG Newsletter, Rig Count Reports

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