Permian Basin, Texas and U.S. each reported a decline in count of active oil and gas drilling rigs to reverse three weeks of gains. Baker Hughes said as of Nov. 3 there were 310 rigs in Permian Basin (down 3 in past week, down 36 in past year), 304 in Texas (down 7 in past week, down 65 in past year) and 618 in U.S. (down 7 in past week, down 152 in past year). There were 496 oil-directed rigs (down 8 in past week, down 117 in past year) for the fewest since January 2022. Baker Hughes said there were 104 rigs in New Mexico (up 4 in past week, down 2 in past year).
Eagle Ford remained No. 2 among regions with 51 rigs (unchanged in past week, down 19 in past year) followed by Haynesville with 38 (down 1 in past week, down 31 in past year), Williston with 32 (down 1 in past week, down 9 in past year) and Marcellus with 28 (down 1 in past week, down 13 in past year). Louisiana remains No. 3 among states with 41 rigs (down 1 in past week, down 18 in past year) followed by Oklahoma with 36 (down 1 in past week, down 31 in past year) and North Dakota with 29 (down 1 in past week, down 9 in past year).
Permian’s leaders, Lea and Eddy counties in New Mexico, each reported new rigs. There are 58 rigs in Lea (up 2 in past week) and 44 rigs in Eddy (up 1). Other basin leaders include Martin with 42 (up 2), Reeves with 29 (down 3), Loving with 25 (down 1) and Midland with 23 (down 1). There are 13 rigs in Ward, 12 in Glasscock and 10 in Howard.