For the second straight week, the count of active oil and gas rigs remained below 1,000 in U.S. and below 500 in Texas, according to Baker Hughes. As of May 3, there were 990 rigs in U.S. (991 a week ago, 1,032 a year ago) and 484 in Texas (491 a week ago, 515 a year ago). The rig count was 459 in Permian Basin (460 a week ago, 458 a year ago).
New Mexico’s top producing counties gained rigs, but Reeves (down 1 to 60) and Midland (down 4 to 41) in Texas lost rigs in the past week. Eddy, N.M., was up 1 to 53, and Lea, N.M., also was up 1 to 50. Other leaders included Martin (up 1 to 35), Loving (unchanged at 34), Howard (up 1 to 30) and Ward (up 2 to 23).
Other leading states included New Mexico with 106 (104 last week, 93 last year), Oklahoma with 103 (102 last week, 135 last year), Louisiana with 62 (62 last week, 61 last year) and North Dakota with 57 (58 last week, 56 last year). Other leading regions included Eagle Ford with 74 (73 last week, 76 last year), Marcellus with 61 (62 last week, 54 last year), Williston with 57 (58 last week, 57 last year) and Haynesville with 52 (54 last week, 54 last year).