New Mexico led gains in count of active drilling rigs last week, according to the weekly report of March 28 from Baker Hughes. The only major producing state to add rigs last week, New Mexico reported 111 rigs (up 5 in past week, up 7 in past year). It is the state’s highest rig count since August 2023. Also, there were 316 rigs in Permian Basin (up 1 in past week, down 36 in past year), 290 in Texas (down 4 in past week, down 86 in past year) and 621 in U.S. (down 3 in past week, down 134 in past year). Permian was the only basin to add at least 1 rig last week.
Eddy (up 2 to 61) and Lea (up 3 to 47) in New Mexico added rigs to maintain their Permian leadership. Others include Martin with 35 (unchanged), Loving with 23 (down 2), Upton with 21 (down 2), and Reeves (down 2) and Midland (unchanged) each with 20. Howard, Reagan and Ward have 13 rigs each, and Culberson reported 11.
Oklahoma is third among states with 44 (unchanged) followed by Louisiana with 41 (down 3) and North Dakota with 32 (unchanged). Eagle Ford in south Texas remains second among regions with 55 (unchanged) followed by Haynesville with 36 (unchanged), Williston with 34 and Marcellus with 30.