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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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Declining rig counts extend 12 weeks in U.S., 11 weeks in Permian Basin

June 4, 2020 by Sarrah Barton

The streaks of declining rig counts have reached 12 weeks in the U.S. and 11 weeks each in Texas and Permian Basin as of May 29, according to Houston-based Baker Hughes. There were 148 active rigs in Permian Basin (162 previous week, 452 previous year), 127 rigs in Texas (138 previous week, 480 previous year) […]

Filed Under: PBOG Newsletter, Rig Count Reports Tagged With: Eddy County, permian basin, rig counts

Shell files permits for 5 wells in Loving County to lead Texas drillers

June 4, 2020 by Sarrah Barton

Global operator Shell led drillers in filing permits in Texas for the week of May 20-26, according to Houston Chronicle. Oil major Royal Dutch Shell said it will continue its drilling program in Permian Basin with 5 horizontal wells on 2 leases in Loving County. They target Phantom field of Wolfcamp to depths of 11,600 […]

Filed Under: PBOG Newsletter, Rig Count Reports Tagged With: Drilling Permits, Oil and Gas, permian basin

In 11 weeks, U.S. loses 475 of 793 rigs (53 percent of decline in Permian)

May 28, 2020 by PBOG

In its rapid decline in active oil and gas drilling rigs now at 11 weeks, U.S. has lost 475 rigs to fall to 318 rigs as of May 22 from 793 rigs as of March 6. Permian Basin posted a declining rig count in 10 of those 11 weeks to fall from 415 to 162 […]

Filed Under: PBOG Newsletter, Rig Count Reports Tagged With: Eddy County, permian basin, rig count

Baker Hughes: U.S. rig count falls to lowest on record since 1987

May 22, 2020 by PBOG

U.S. count of active oil and gas drilling rigs fell for the 10th consecutive week as of May 15 to 339 – the lowest on record since Houston-based Baker Hughes began reporting data in 1987. U.S. counts were 374 previous week and 987 previous year. U.S. oil-directed rigs fell by 34 in the past week […]

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

EOG Resources to reduce 2020 drilling, production forecast

May 14, 2020 by PBOG

Houston-based EOG Resources, in its May 7 announcement of first quarter results, said it reduced rigs in the last six weeks from 36 to 8 and will have an average of 6 rigs for the remainder of 2020. EOG in 2020 will focus drilling in Permian Basin and Eagle Ford, produce about 390,000 b/d of […]

Filed Under: PBOG Newsletter, Producers and Exploration, Rig Count Reports Tagged With: eagle ford, horizontal drilling, permian basin, rig counts

“Full-on retreat” in U.S. rig count, but New Mexico reverses decline

May 14, 2020 by PBOG

The streak of declining rig counts reached nine weeks in the U.S. in Baker Hughes’ weekly report of May 8, but New Mexico ended its streak at seven weeks. U.S. lost 34 more rigs in the previous week for a new total of 374 (988 a year ago). The U.S. count is down 62 percent […]

Filed Under: PBOG Newsletter, Rig Count Reports Tagged With: Oil and Gas, permian basin, rig counts

U.S. idles 385 of 793 rigs (49 percent) during 8 straight weeks of decline

May 7, 2020 by PBOG

During the eight-week decline in count of active oil and gas drilling rigs, U.S. operators have idled 385 rigs to fall from 793 rigs to 408 in Baker Hughes’ report of May 1. There have been seven-week declines in Permian Basin (down 199 rigs from 418 to 219), Texas (down 207 rigs from 408 to […]

Filed Under: PBOG Newsletter, Rig Count Reports Tagged With: Oil and Gas, permian basin, production, rig counts

Eddy (41 rigs), Midland (31) lead Permian Basin count from Baker Hughes

April 30, 2020 by PBOG

Midland County replaced Lea County, N.M., as Permian Basin’s No. 2 county in the April 24 rig count from Baker Hughes. Midland’s count was unchanged from the previous week with 31 rigs while Lea idled 9 rigs to fall to 29. Eddy County, N.M., remains the leader with 41 rigs. Other basin rig counts include […]

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

More permits filed at RRC for wells that target only natural gas

April 30, 2020 by PBOG

Twenty-five companies filed 69 drilling permits the week of April 15-21 with Railroad Commission of Texas, but Houston Chronicle said that included a record 12 percent for wells that produce only natural gas. Sabine Oil & Gas and Trinity Operating plan to drill six gas wells in Haynesville, and French oil major Total and JBL […]

Filed Under: PBOG Newsletter, Rig Count Reports Tagged With: permian basin, rig counts, Texas Railroad Commission

Marathon Petroleum idles refinery in Gallup, N.M.

April 24, 2020 by PBOG

Findlay, Ohio-based Marathon Petroleum said it idled its refinery in Gallup, N.M., April 15. Bloomberg said it’s the first U.S. facility to close because of the coronavirus pandemic. Bloomberg added, “It’s not likely to be the last.” Jamal Kheiry of Marathon said the refinery will maintain regular staffing levels while it is down and will […]

Filed Under: PBOG Newsletter, Rig Count Reports Tagged With: drilling rigs, Oil and Gas, permian basin, production

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