Permian Basin has added 28 rigs to date in 2021Q4 after adding 46 rigs in Q1, 15 rigs in Q2 and 24 rigs in Q3. Baker Hughes said as of Dec. 17 there were 288 rigs in Permian Basin (up 2 in past week and 114 in past year), 275 rigs in Texas (up 3 in past week and 117 in past year), 89 rigs in New Mexico (down 1 in past week, up 23 in past year) and 579 rigs in U.S. (up 3 in past week and 233 in past year). That’s 25 straight weeks of growing or flat rig count in Permian Basin.
Enverus said as of Dec. 15 the number of operators drilling wells in U.S. has increased by 55 to 290 since March 1, 2020, “showing greater industry participation but at lower activity levels.” Among the most active operators in March 2020, Enverus said, now ExxonMobil is down 50 rigs to 12, Pioneer Natural Resources is down 15 rigs to 25, EOG Resources is down 9 rigs to 25, ConocoPhillips is down 16 rigs to 17, Devon Energy is down 12 rigs to 17, Diamondback Energy is down 17 rigs to 11, Chevron is down 16 rigs to 11, and Occidental Petroleum is down 6 rigs to 17.
Lea County, N.M., idled 2 rigs last week and remains the Permian leader with 58 followed by Midland and Eddy, N.M., with 29 each and Reeves with 23. Louisiana is No. 3 among states with 49 rigs followed by Oklahoma with 48 and North Dakota with 27. Haynesville is No. 2 among regions with 47 rigs followed by Eagle Ford with 44, Marcellus with 29 and Williston with 27.