Permian Basin added drilling rigs for the sixth straight week, and U.S. resumed a growing count of active rigs after a decline, according to the latest report from Baker Hughes. As of Nov. 25, there were 161 rigs in Permian Basin (156 previous week), 147 rigs in Texas (144 previous week), 58 rigs in New Mexico (55 previous week) and 320 rigs in U.S. (310 previous week). U.S. count is up 31 percent since 2020 low of 244 in August, and Permian count is up 38 percent since 2020 low of 117 in August.
Lea County, N.M., added 3 rigs in past week for a basin-leading count of 30. Other Permian leaders include Eddy County, N.M., with 28 (unchanged in past week), Midland with 20 (down 1), Martin with 14 (up 1), Howard with 13 (up 1) and Reeves with 12 (unchanged).
Other leading states include Louisiana third with 39 (up 1 in past week), Pennsylvania with 20 (unchanged), Oklahoma with 13 (unchanged) and North Dakota with 11 (unchanged). Other leading regions include runner-up Haynesville with 40 (unchanged), Marcellus with 27 (unchanged), Eagle Ford with 23 (up 3) and Williston with 11 (unchanged). Baker Hughes issued its latest report two days early because of Thanksgiving holidays.
U.S. Energy Information Administration said Monday U.S. crude oil production rose in September to an average of 10.860 million barrels per day – up 286,000 b/d compared to previous month. But it’s down 1.635 million b/d from September 2019. EIA said Texas crude production was down in September to 4.628 million from 4.688 previous month and down by 563,000 b/d from September 2019. Natural gas production dipped 0.2 percent in September from August and 3.9 percent from September 2019.
EIA said Tuesday U.S. imported more crude oil and petroleum products than it exported in May and June, “briefly reversing the country’s 15-year-long trend toward becoming a net petroleum exporter.” After being a net petroleum exporter for seven consecutive months from October 2019 through April 2020, U.S. became a net importer. Net imports averaged 939,000 b/d in May and 675,000 b/d in June. EIA said, “The brief return to net imports was a result of declines in both U.S. crude oil production and in refinery runs that resulted in lower gross crude oil and petroleum product exports because of lower global petroleum demand and economic responses to covid19. In April 2020 U.S. consumption of petroleum fell to its lowest level in decades….”