Count of active drilling rigs in U.S. declined for the first time since October, according to Baker Hughes. In its weekly report of Dec. 9, Baker Hughes said there were 780 rigs in U.S. – down from 784 the previous week but up from 576 a year ago. Rig count in Permian Basin was unchanged at 350 (286 a year ago). Texas has 370 rigs (down 1 in past week, up 98 in past year), and New Mexico added 2 rigs (106 now, 90 a year ago). High counts year-to-date are 352 in Permian, 375 in Texas, 113 in New Mexico and 784 in U.S.
Lea County, N.M., is Permian leader with 72 rigs after gaining 4 last week. Eddy County, N.M., lost rigs again (2 last week) and fell to fifth with 31. Other Permian leaders are Reeves (down 2) and Martin (unchanged) with 34 each, Midland with 32 (up 1), Loving with 23 (down 2) and Howard with 20 (up 1).
In its recent “Permian Gas Report,” Enverus said permitting activity in Delaware Basin has shifted from liquids-rich to gas-weighted areas. “The relative well-level economics in the gas-weighted areas generate comparable returns and value when compared to the core of the basin and should compete for capital for operators with regional optionality,” the report said.
Eagle Ford in south Texas remains No. 2 in rig count among regions with 72 (up 1 in past week) followed by Haynesville with 69 (unchanged), Williston with 42 (unchanged) and Marcellus with 39 (unchanged). Oklahoma is No. 3 among states with 69 (down 2) followed by Louisiana with 67 and North Dakota with 38.