More than half of nation’s rigs drilling in Permian Basin

For the fifth straight week, Permian Basin is home of more than half of the nation’s active oil and gas drilling rigs. Baker Hughes said as of Nov. 22 there were 406 rigs in Texas (408 previous week, 493 previous year) and 803 rigs in U.S. (806 previous week, 1,079 previous year). New Mexico continues to be runner-up among states in rig count with 104 (105 previous week, 108 previous year). Permian Basin lost 3 rigs in the past week for a new total of 405 (493 a year ago).
Lea County (53 rigs) and Eddy County (50) in New Mexico lead the Permian. Midland County has 46, and Reeves County, previous leader, lost 5 rigs in the last week for a new total of 40. Other Permian leaders include Loving County (41 rigs), Martin (31), Ward (25), Howard (24) and Upton (23).
Enverus’ Drillinginfo said Nov. 21, “Nearly two-thirds of the rig count drop over the past 12 months was due to privately held companies idling their drilling rigs. During this period a net 29 percent of private operators who were drilling at the beginning of this period have since suspended all of their U.S. drilling operations. Though the rig count appears to have flattened out over this past week, the rig reductions by private operators continued unabated.”
Rig counts in other leading states include Louisiana with 56 (up 2 in past week), Oklahoma with 52 (unchanged) and North Dakota with 49 (down 1). And in other leading regions as of Nov. 22 there were 60 rigs in Eagle Ford (unchanged in past week), 53 in Haynesville (up 2 in previous week) and 51 in Williston (unchanged).