Rig counts unchanged in Permian Basin, Texas, U.S.

Perhaps a sign of a holiday slowdown, counts of active drilling rigs in Permian Basin, Texas and U.S. were unchanged in the past week as of Dec. 13, according to Baker Hughes. There were 400 rigs in Permian (486 a year ago), 400 rigs in Texas (532 a year ago) and 799 rigs in U.S. (1,071 a year ago). Four oil-directed rigs were added in the past week in U.S. for a new total of 667 (873 a year ago).
Eddy County in New Mexico is the Permian leader with 52 rigs after adding 2 in past week followed by Midland with 50 (up 3 in past week) and Lea, N.M., with 49 (down 3 in past week). Other basin leaders include Loving (42), Reeves (37), Martin (33), Howard (24) and Ward (21). A year after posting an all-time high of 85 rigs in November 2018, Reeves has lost 56 percent of its active rigs and is down to its lowest count since March 2017.
Other leaders among states, Baker Hughes said, as of Dec. 13 were Louisiana with 56 rigs and North Dakota and Oklahoma each with 50 (all unchanged in past week). Other leaders among regions were Eagle Ford with 60 rigs (60 last week), Williston with 52 (52 last week) and Haynesville with 50 (51 last week).