U.S. reported additional drilling rigs as of July 18 for the first time in 12 weeks. The 11-week decline dropped the count from 587 as of April 25 to 537 as of July 11 before growing by 7 to 544 in Baker Hughes’ latest report. Still the count is down 7.2 percent from 586 a year ago. (Last week the count of oil rigs fell by 2 while gas rigs rose by 9.)
Texas was the only major producing region to report a decline last week, and Permian Basin was the only major region to report a loss. As of July 18 there were 263 rigs in Permian Basin (265 week ago, 305 year ago), 253 in Texas (255 week ago, 276 year ago) and 94 in New Mexico (90 week ago, 108 year ago).
Eddy County, N.M., again leads Permian Basin with 44 rigs, but Lea, N.M., rose to 43 by adding 1 rig last week. Other basin leaders are Martin with 24, Reeves with 23 (down 5), Loving with 22 (up 1), Midland with 18 (up 1 to stop a decline), Upton with 15 (down 1), Ragan with 12 and Glasscock with 10 (up 1).
Haynesville added 3 rigs last week to match Eagle Ford with 41 rigs each followed by Williston with 31 and Marcellus with 23 as the top 5 regions. Oklahoma is No. 3 among states with 42 followed by Louisiana with 33 (up 2) and North Dakota with 29.
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