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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., Permian Basin reverse eight-week decline by adding drilling rigs

February 4, 2025 by PBOG

Permian Basin and U.S. added drilling rigs last week for the first time in eight weeks, according to the weekly report of Jan. 31 from Baker Hughes.  There were 303 rigs in Permian Basin (up 5 in the past week, down 8 in the past year) and 582 in U.S. (up 6 in the past week, down 37 in past year).  Those are the first increases since Dec. 6.

Also, New Mexico added 4 rigs for a new total of 106 (up 8 in past year), and the Texas count was flat at 277 (down 26 in past year).

Eagle Ford in south Texas remains No. 2 among regions with 46 (up 1 in past week, down 6 in past year) followed by Williston with 34 (up 1 in past week, unchanged from a year ago), Haynesville with 28 (down 1 in past week, down 12 in past year) and Marcellus with 23 (unchanged in past week, down 6 in past year).  Among states, Oklahoma is No. 3 with 45 rigs (up 1 in past week, up 3 in past year) followed by North Dakota with 33 (up 1 in past week, up 1 in past year) and Louisiana with 29 (unchanged in past week, down 13 in past year).

Permian’s leading counties, Eddy (up 3 to 53) and Lea (up 1 to 50) in New Mexico, both added rigs in the past week.  Midland was down 1 to 28, Reeves down 1 to 26, Martin down 1 to 25 and Loving down 1 to 19.  Also, Reagan was up 2 to 14, Upton up 1 to 13, Ward unchanged at 11 and Howard up 2 to 10.

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