Baker Hughes’ count of active drilling rigs increased for the fourth consecutive week in U.S. As of Feb. 21 there were 592 rigs in U.S. (up 4 from 588 week ago, down 34 from 626 year ago). That’s the most since June 2024. Oil directed rigs also have increased in four straight weeks from 472 to 488.
Baker Hughes also said there were 304 rigs in Permian Basin (unchanged in past week, down 10 in past year), 280 rigs in Texas (unchanged in past week, down 21 in past year) and 105 in New Mexico (down 1 in past week, up 3 in past year). Oklahoma is No. 3 among states with 49 rigs (up 5 in past week) followed by North Dakota with 32 (unchanged) and Louisiana with 30 (unchanged). Eagle Ford in south Texas is No. 2 among regions with 48 rigs (unchanged) followed by Williston with 33 (unchanged), Haynesville with 30 (unchanged) and Marcellus with 24 (up 1).
In Permian Basin, two New Mexico counties have 51 rigs each this week after Eddy dropped 2 rigs and Lea added 1. Other leaders include Midland with 28 (down 1), Martin with 27 (up 1), Reeves with 26 (unchanged) and Loving with 19 (unchanged). Also, Reagan has 14 rigs, Upton 13, Ward 11 and Howard 10.