Permian Basin added rigs last week for the first time since March to break a streak of 18 consecutive weeks with declining rig counts. Permian added 2 rigs for a new total of 126 (443 year ago). According to Baker Hughes, as of July 24, Texas idled 1 rig for a new total of 103 […]
Texas Petro Index falls for 15th straight month to 163.5 in May
Falling rig count combined with steep declines in drilling permits, industry employment and crude oil production pushed the Texas Petro Index down again in May to 163.5 – down 22.5 percent from 210.7 of a year ago May 2019. It was the 15th consecutive month of decline for the index developed by petroleum economist Karr […]
New Mexico adds rig for second straight week; Permian still leader with 124
New Mexico added a rig for the second straight week, but declines of counts of oil and gas drilling rigs continued in Permian Basin, Texas and U.S. According to the July 17 report from Baker Hughes, New Mexico added 1 rig again to reach 50 (107 year ago). Permian Basin has 124 rigs (125 week […]
Haynesville overtakes Eagle Ford as second most popular location of rigs
Natural gas-rich Haynesville in east Texas and north Louisiana has overtaken Eagle Ford in south Texas as the second most popular destination for drilling rig operators in U.S. Haynesville surpassed Eagle Ford in May and now has 32 operating rigs to 11 for Eagle Ford as of July 17, according to Baker Hughes. And Haynesville […]
Baker Hughes: New Mexico only state to add drilling rig in past week
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 […]
Declining rig counts reach 16 weeks in Permian Basin, 17 weeks in U.S.
Permian Basin’s declining rig count reached 16 weeks in Baker Hughes’ weekly report of active oil and gas drilling rigs for July 2. Permian lost 5 rigs in the past week for a new total of 126 (441 a year ago). Texas was unchanged with 112 rigs (463 a year ago), New Mexico idled rigs […]
Texas adds 1 rig to end streak of 14 straight weeks of declining rig count
According to Baker Hughes, Texas added a rig last week to break its streak of 14 straight weeks of declining counts of active oil and gas rigs. As of June 26, Texas had 112 rigs (111 previous week, 464 previous year). The U.S. count fell for 16th consecutive week to 265 (266 previous week, 967 […]
Rig count decline likely to continue at slower pace in third quarter
Thirteen additional oil and gas rigs were idled in the past week in U.S., according to June 19 weekly report from Baker Hughes, for a new total of 266 – lowest since the Houston-based service company began keeping records in 1940. It marked the 15th consecutive week of U.S. declines since March and seventh consecutive […]
Baker Hughes: First time since March for Texas to not lead rig losses
The pace of the declining rig count slowed across Permian Basin, Texas and U.S. in Baker Hughes’ weekly report of June 12. But the count fell for the 14th straight week in U.S. and 13th in Permian and Texas. As of June 12 there were 137 active oil and gas rigs in Permian (141 week […]
U.S. rig count falls below 300, Texas at 115, Permian Basin has 141 rigs
U.S. count of active oil and gas rigs fell for the fifth straight week to a record low, according to June 5 report from Baker Hughes. There were 284 rigs in U.S. as of June 5 – an all-time low, Reuters said, according to records dating back to 1940 – compared to 301 rigs a […]