Permian Basin, Texas, New Mexico and U.S. posted declines in counts of active drilling rigs in the past week, according to Baker Hughes. Texas’ loss of 5 rigs was the largest among major producing states – none of whom posted a gain in the past week. Texas’ count of 312 as of Sept. 22 is its lowest since March 2022 (362 year ago). Also, there were 317 rigs in Permian Basin (322 week ago, 344 year ago), 100 in New Mexico (102 week ago, 111 year ago) and 630 in U.S. (641 week ago, 764 year ago). U.S. count is its lowest since February 2022.
Lea County, N.M., remains the Permian leader with 56 rigs (down 2 in past week) followed by Eddy, N.M., with 43, Martin with 38, Reeves with 28 and Midland with 27 – all four unchanged in past week. Other basin leaders include Loving with 26 (down 2), Ward with 14 (unchanged), Glasscock and Reagan each with 12, and Howard and Upton each with 10.
Louisiana remains No. 3 among states with 42 rigs (42 week ago, 66 year ago) followed by Oklahoma with 37 (39 week ago, 65 year ago) and North Dakota with 30 (30 week ago, 37 year ago). Eagle Ford in south Texas remains No. 2 among regions with 49 rigs (49 week ago, 72 year ago) followed by Haynesville with 39 (41 week ago, 71 year ago), Williston with 32 (32 week ago, 39 year ago) and Marcellus with 29 (29 week ago, 36 year ago).