Crude production per day reaches record high while rig count declines

Production continues to grow while the rig count declines. U.S. Department of Energy said this week that crude oil production increased to an estimated record high of 13 million barrels a day last week, while Baker Hughes said Jan. 10 that the U.S. count of active oil and gas drilling rigs declined 15 in the past week to 781. As of Jan. 10 there were 397 rigs in Permian Basin (403 a week ago, 488 a year ago), 396 in Texas (403 a week ago, 532 a year ago) and 102 in New Mexico (104 a week ago, 107 a year ago). There were 1,075 rigs in U.S. a year ago.
Eddy County, N.M., remained the Permian leader with 52 rigs (unchanged in past week) followed by 50 rigs in Lea, N.M., (down 1 in past week) and 46 rigs in Midland County (down 5 in past week). Other leaders include Reeves with 44 (down 1), Loving with 36 (down 1), Martin with 33 (up 2), Howard with 26 (up 2) and Ward with 20 (down 2).
Louisiana is third among states with 55 active rigs as of Jan. 10 followed by Oklahoma with 52 and North Dakoa with 49. Eagle Ford is second among regions with 67 rigs followed by Williston with 51, Haynesville with 45 and Marcellus with 41.