Permian Basin reported a declining rig count as of May 17 for the third consecutive week, according to Baker Hughes. The Houston-based services firm reported 312 rigs (down 2 in past week, down 37 in past year) in Permian Basin. Also, there were 290 rigs in Texas (up 1 in past week, down 67 in past year), 107 in New Mexico (down 2 in past week, down 2 in past year) and 604 in U.S. (up 1 in past week, down 116 in past year).
Eagle Ford in south Texas remains No. 2 among regions with 51 rigs (down 1 in past week, down 8 in past year) followed by Haynesville with 35 (up 1 in past week, down 22 in past year), Williston with 34 (unchanged in past week, down 4 in past year) and Marcellus with 29 (unchanged in past week, down 10 in past year). Oklahoma is No. 3 among states with 44 rigs (up 1 in past week, down 7 in past year) followed by Louisiana with 40 (up 1 in past week, down 16 in past year) and North Dakota with 32 (unchanged in past week, down 5 in past year).
None of the top 10 counties in Permian Basin added rigs in the past week. Eddy (55 rigs) and Lea (49) in New Mexico are the leaders followed by Martin with 33 (down 2), Reeves with 24 (unchanged) and Loving with 22 (unchanged). Other counties include Midland with 21, Reagan with 17, Upton with 14, Culberson with 11 and Ward with 10.