U.S. count of active oil and gas drilling rigs climbed above 400 last week for the first time since May 2020. Baker Hughes said as of Feb. 26 there were 402 rigs in U.S. (397 previous week), 208 rigs in Permian Basin (204 previous week), 197 rigs in Texas (194 previous week) and 62 rigs in New Mexico (61 previous week). The latest U.S. count of at least 400 rigs was May 1, 2020, when there were 408 rigs before falling to a low of 244 as of Aug. 14, 2020, during the pandemic.
Lea County, N.M., added 1 rig last week for a U.S.-leading total of 33. Other Permian counties include Eddy, N.M., with 29 rigs (unchanged), Martin with 22 (unchanged), Midland up 1 rig to 21, Reeves up 3 to 19, Howard with 18 (unchanged), Loving with 16 (unchanged) and Upton up 3 to 11 rigs.
Counts in other leading regions include Haynesville with 43 (unchanged in previous week), Marcellus up 4 to 30 rigs, Eagle Ford with 26 (unchanged), Williston with 11 (unchanged) and Cana Woodford up 1 to 10. Other leading states include Louisiana with 43 (unchanged), Pennsylvania up 2 rigs to 21, Oklahoma up 1 to 18 rigs and North Dakota with 11 rigs (unchanged). Enverus said the most active operators in U.S. as of Feb. 24 were EOG Resources with 25 rigs, Devon Energy with 18, Pioneer Natural Resources with 18, ConocoPhillips with 16 and Occidental Petroleum with 14.
- Enverus also reported data for week that ended Feb. 19 show the significant impact of sub-zero winter weather in producing states on U.S. oil industry. Inputs to U.S. refineries fell 2.6 MMb/d (15 percent) that week, including 2.3 MMb/d (24 percent) in PADD 3 (gulf coast). Production in lower 48 states contracted 1.1 MMb/d to its lowest level since major hurricanes in August 2020 forced shut-ins.
- Midland’s Christi Craddick, chairman of the Railroad Commission of Texas, said “the bright spot in last week’s tragedy” (winter storm in Texas) was natural gas. She said of the 4.3 million gas meters in Texas, 99.95 percent met the very large demands placed on them, representing more than 13 million Texas warmed by natural gas. Gas delivery was prioritized to meet human need in homes and hospitals; gas-fired electricity generators came second.