Houston-based Baker Hughes said the count of U.S. drilling rigs dropped by 8 units last week – its biggest one-week drop since September 2023. The count has declined by 14 the past two weeks to 605 – lowest total since January 2022. Also as of May 3, there were 316 rigs in Permian Basin (317 previous week, 356 year ago), 292 in Texas (297 previous week, 368 year ago) and 108 in New Mexico (107 previous week, 107 year ago).
Oklahoma remains No. 3 among states with 45 rigs (45 previous week, 54 year ago) followed by Louisiana with 38 (36 previous week, 61 year ago) and North Dakota with 32 (32 previous week, 38 year ago). Eagle Ford in south Texas remains No. 2 among regions with 52 rigs (55 previous week, 64 year ago) followed by Haynesville in east Texas and Louisiana with 34 (34 previous week, 62 year ago), Williston with 34 (34 previous week, 39 year ago) and Marcellus with 29 (29 previous week, 42 year ago).
Eddy County, N.M., is the Permian leader with 56 rigs (unchanged in past week) followed by Lea, N.M., with 49 (up 1), Martin with 38 (up 4), Reeves with 25 (down 1), and Midland (unchanged) and Loving (down 1) with 22 each. Others include Reagan with 16, Upton with 15 and Ward with 10.