Baker Hughes continues to report small gains in its count of active oil and gas drilling rigs. As of Feb. 25, there were 309 rigs in Permian Basin (up 3 in past week, up 101 in past year), 312 in Texas (up 4 in past week, up 115 in past year), 95 in New Mexico (up 1 in past week, up 33 in past year) and 650 in U.S. (up 5 in past week, up 248 in past year). The Permian count is up 5.5 percent in two months since starting the year with 293 rigs, Texas count is up 12.6 percent, and U.S. count is up 10.9 percent.
Lea County, N.M., added 2 rigs in past week to lead the Permian Basin with 60 active rigs. Other leaders include Midland with 31 (up 4 in past week), Martin and Eddy, N.M., each with 29, Reeves with 25 and Howard with 20.
Haynesville remains No. 2 among regions with 61 rigs followed by Eagle Ford with 54, Marcellus with 36 and Williston with 34. Louisiana remains No. 3 among states with 54 rigs followed by Oklahoma with 51 and North Dakota with 33.
U.S. Energy Information Administration said Feb. 28 that U.S. oil demand rose in December to its highest level since before the coronavirus pandemic began. Overall fuel demand was up 10 percent in the past year to 20.8 million b/d – highest since August 2019.