U.S. added active oil and gas drilling rigs for the fourth straight week, according to Baker Hughes. It’s the first four-week gain in more than a year since November 2022. As of Dec. 8 there were 313 rigs in Permian Basin (314 week ago, 350 year ago), 308 in Texas (306 week ago, 370 year ago), 102 in New Mexico (106 week ago, 106 year ago) and 626 in U.S. (625 week ago, 780 year ago). The U.S. count has gained 10 rigs in four weeks.
Permian’s top 3 counties reported fewer rigs. Lea, N.M., was down 2 to 50, Eddy, N.M., was down 2 to 49, and Martin was down 2 to 38. Others include Reeves with 30 (up 2), Midland with 26 (up 1), Loving with 21 (down 2), Ward with 14 and Upton with 10.
Louisiana remains No. 3 among states with 44 rigs (41 week ago, 67 year ago) followed by Oklahoma with 38 (38 week ago, 69 year ago) and North Dakota with 32 (32 week ago, 38 year ago). Eagle Ford in south Texas remains No. 2 among regions with 52 rigs (50 week ago, 72 year ago) followed by Haynesville with 42 (39 week ago, 69 year ago), Williston with 33 (33 week ago, 42 year ago) and Marcellus with 29 (29 week ago, 39 year ago).
Frac spread count from Primary Vision shows that the number of crews completing unfinished wells fell by 5 the week of Nov. 29 to 276 – down from 281 the previous week but up 18 from the beginning of 2023.