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Permian Basin Oil and Gas Magazine

PBOG is the Official Publication of the Permian Basin Petroleum Association and is published monthly by Zachry Publications, LP.

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Permian rig count declines for only second time since January 2022

July 28, 2022 by PBOG

For only the second time since January, the count of active oil and gas drilling rigs in Permian Basin declined in the previous week.  Baker Hughes said as of July 22 there were 349 rigs in Permian Basin (350 week ago, 242 year ago), 365 in Texas (unchanged in past week, 228 year ago), 109 in New Mexico (110 week ago, 75 year ago) and 758 in U.S. (756 week ago, 491 year ago).  The only other weekly decline in Permian Basin since January was May 27 when the count declined by 1 rig to 342.  Permian started 2022 with 293 rigs.

Louisiana led major producing states by adding 2 rigs in the past week for a total of 64.  Other leaders among states as of July 22 include Oklahoma with 63 (unchanged in past week) and North Dakota with 36 (unchanged).  Eagle Ford in south Texas remains No. 2 among regions with 70 rigs (up 1) followed by Haynesville with 68 (unchanged) and Marcellus and Williston with 38 rigs each.

Lea County, N.M., added 3 rigs in past week to lead Permian Basin with 58 followed by Eddy, N.M., with 48 (down 4), Midland with 39 (up 1), Martin with 29 (down 2), Loving and Reeves with 27 each, and Howard with 24.

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