Permian Basin is following trends in Texas, New Mexico and U.S. with declining counts of active oil and gas drilling rigs. Baker Hughes said in its report of May 23 there were 279 rigs in Permian Basin – down 3 from 282 in the past week and down 33 or 11 percent from 312 a year ago. It’s Permian’s lowest count in more than three years since November 2021.
Also, there were 266 rigs in Texas (down 5 from 271 in the past week and down 21 or 7 percent from 287 a year ago), 92 in New Mexico (down 2 from 94 in the past week and down 16 or 15 percent from 108 a year ago) and 566 in U.S. (down 10 from 576 in the past week and down 34 or 6 percent from 600 in the past year).
The Permian’s top county, Eddy, N.M., lost 3 rigs in the past week but continues to lead with 48 followed by Lea, N.M., with 40 (up 1), Reeves with 30, Martin with 26, Midland with 24 (up 1), Loving with 19, Upton with 16 (down 1) and Reagan with 12.
Eagle Ford in south Texas is No. 2 among regions with 42 rigs (down 4 in past week) followed by Haynesville in east Texas and Louisiana with 33 (unchanged), Williston with 31 (down 2) and Marcellus with 24 (down 1). Oklahoma is No. 3 among states with 53 rigs (down 2) followed by Louisiana and North Dakota each with 30.
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