The count of active drilling rigs in Permian Basin declined again for the past week, according to Baker Hughes. In the report for May 16, there were 282 rigs in Permian – down 3 from 285 a week ago and down 30 from 312 a year ago. It’s Permian’s lowest count for 42 months since November 2021.
Baker Hughes also reported declines in Texas, New Mexico and U.S. There were 271 rigs in Texas (down from 273 week ago and 290 year ago), 94 in New Mexico (down from 96 week ago and 107 year ago) and 576 in U.S. (down from 578 week ago and 604 year ago). The Texas count is also the lowest since November 2021, and the U.S. count is its lowest since December 2021.
Eagle Ford in south Texas is runner-up among regions with 46 rigs (unchanged in past week, down 5 in past year) followed by Haynesville and Williston with 33 each and Marcellus with 25. Among states, Oklahoma is third with 55 rigs (unchanged in past week, up 11 from 44 in past year) followed by North Dakota with 32 and Louisiana with 30.
Eddy County, N.M., added a rig in the past week to widen its margin as the Permian leader with 51. The count for Lea, N.M., declined 3 in the past week to 40. Reeves’ count was up 2 to 30 followed by Martin with 26 (down 2), Midland with 23 (unchanged), Loving with 19 (down 2), Upton with 17 (up 1) and Reagan with 12 (up 1).
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