Counts of active oil and gas drilling rigs in U.S. and Permian Basin continue to fall, according to the latest report from Baker Hughes. As of July 3, there were 539 rigs in U.S. (down 8 from 547 last week and down 46 or 7.9 percent from 585 a year ago) and 265 rigs in Permian Basin (down 5 from 270 last week and down 40 or 13.1 percent from 305 a year ago). Those are the lowest counts in 45 months since October 2021 and the tenth straight week of declining rig counts.
There also are 256 rigs in Texas (down 2 in past week, down 22 in past year) and 90 rigs in New Mexico (down 2 in past week, down 17 or 15.9 percent in past year).
Among Permian Basin leaders, only Loving County added rigs in the past week. Eddy (down 2 to 45) and Lea (41) in New Mexico remain the leaders followed by Reeves with 28, Martin with 24 (down 1), Loving with 23 (up 3), Midland with 20 (down 2), Upton with 15 (down 1) and Reagan with 10 (down 3).
Oklahoma is No. 3 among states with 43 (down 3) followed by Louisiana with 31 and North Dakota with 29. Eagle Ford again reported 41 for runner-up among regions ahead of Haynesville with 37 (up 1), Williston with 31 and Marcellus with 23 (down 1).
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