Counts of active oil and gas drilling rigs in Permian Basin and Texas declined in the past week, according to Baker Hughes, but the Permian Basin count remained at the same level from the beginning of 2020. As of Feb. 7, there were 405 rigs in Permian Basin (406 previous week, 478 a year ago, 405 to start 2020) and 394 rigs in Texas (395 previous week, 511 a year ago, 404 to start 2020). Operators added 3 rigs in the past week in New Mexico for a new total of 112 (111 a year ago, 105 to start 2020). In the U.S. there were 790 active rigs (unchanged in past week, 1,049 a year ago, 805 to start 2020). The U.S. count is at its lowest since March 2017, and the oil rig count (676) is down nearly 60 percent from a peak of 1,609 in October 2014.
Eddy County (57 rigs) and Lea County (54) in New Mexico lead the Permian Basin followed by Midland (43), Reeves (40), Martin (37), Loving (33) and Howard (30) counties in Texas.
Louisiana and North Dakota each has 52 rigs, and Oklahoma is fifth among states with 50. Eagle Ford Shale in south Texas remains No. 2 among regions with 70 rigs followed by Williston (53), Haynesville (41) and Marcellus (39).