Rig counts in U.S. and Permian Basin declined for the ninth straight week, according to the weekly report of June 27 from Baker Hughes. There were 547 rigs in U.S. (down 7 from 554 previous week, down 34 or 6 percent from 581 year ago) and 270 rigs in Permian Basin (down 1 from 271 previous week, down 35 or 11.5 percent from 305 previous year). Both are the lowest counts since October 2021.
The counts for Texas (258) and New Mexico (92) were unchanged in past week. A year ago Texas had 277 rigs and New Mexico 107.
Top four counties in Permian Basin were unchanged in last week, led by Eddy (47) and Lea (41) in southeastern New Mexico. Others include Reeves with 28, Martin with 25, Midland with 21 (down 2), Loving with 20, Upton with 16 and Reagan with 13 (up 1).
Oklahoma is No. 3 among states with 46 (down 1) followed by Louisiana with 31 (down 1) and North Dakota with 29 (unchanged). Eagle Ford in south Texas is No. 2 among regions with 41 followed by Haynesville with 36, Williston with 31 and Marcellus with 24 – all unchanged in past week.