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Permian Basin Oil and Gas Magazine

PBOG is the Official Publication of the Permian Basin Petroleum Association and is published monthly by Zachry Publications, LP.

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U.S. idles 385 of 793 rigs (49 percent) during 8 straight weeks of decline

May 7, 2020 by PBOG

During the eight-week decline in count of active oil and gas drilling rigs, U.S. operators have idled 385 rigs to fall from 793 rigs to 408 in Baker Hughes’ report of May 1. There have been seven-week declines in Permian Basin (down 199 rigs from 418 to 219), Texas (down 207 rigs from 408 to 201) and New Mexico (down 51 rigs from 117 to 66). A year ago there were 459 rigs in Permian Basin, 484 in Texas, 106 in New Mexico and 990 in U.S.
Eddy County, N.M., maintained its Permian leadership with 38 rigs, and Midland and Lea, N.M., have 28 rigs each. Others include Martin with 21 rigs, Loving with 18, Howard and Reeves each with 16, and Pecos with 10.
Other leading states include Louisiana with 39 rigs, North Dakota with 26, Pennsylvania with 23 and Oklahoma with 15. Runner-up in rig count among regions is now Haynesville with 32 followed by Eagle Ford and Marcellus with 30 each and Williston with 26.

Filed Under: PBOG Newsletter, Rig Count Reports Tagged With: Oil and Gas, permian basin, production, rig counts

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