Baker Hughes’ count of active drilling rigs in U.S. declined by 62 rigs in the past week (9.3 percent) to 602 as of April 9. That’s the lowest since there were 597 rigs in December 2016 (664 a week ago, 1,022 a year ago, 1,083 to start 2019). Also in the past week, Permian Basin’s count fell 9.97 percent to 316 (351 a week ago, 454 a year ago, 486 to start 2019). Texas’ count as of April 9 was down 10.7 percent in past week to 302 (338 a week ago, 502 a year ago, 532 to start 2019), and New Mexico’s count was down 7.0 percent in past week to 93 (100 a week ago, 105 a year ago, 106 to start 2019).
Eddy County, N.M., remains the U.S. and Permian Basin leader – more than every state except Texas and New Mexico – with 48 rigs (down 4 in previous week) as of April 9. Other Permian leaders were Lea, N.M. (44 rigs), Midland (39), Martin (30), Loving (28), Howard (22) and Reeves (22). Reeves’ count is down from high of 85 rigs working in November 2018 after recent low of 17 in April 2016.
Other leaders among states in the April 9 weekly report were Louisiana (43 rigs), North Dakota (41) and Oklahoma (26). Baker Hughes said no major producing states added rigs in the previous week. Other leaders among regions were Eagle Ford (51 rigs), Williston (41), Haynesville (38) and Marcellus (38).