U.S. rig count plunges 25.7 percent in past 12 months to 799 from 1,075

The count of active oil and gas drilling rigs remained flat in the past week in New Mexico (103 rigs), but Texas and the Permian Basin each lost 5 rigs. As of Dec. 6, according to Baker Hughes, Permian Basin declined to 400 (489 a year ago), and Texas also fell to 400 (529 a year ago). The count in the U.S. fell below 800 at 799 (802 previous week, 1,075 previous year). The national count has plunged 25.7 percent in the last 12 months and remains at its lowest since March 2017. There are 663 oil-directed rigs in U.S. (668 previous week, 877 previous year).
Lea (52 rigs) and Eddy (50) counties in New Mexico continue to lead the Permian rig count followed by Midland (47), Loving (42), Reeves (36), Martin (30), Howard (25), Ward (23) and Upton (23). Other top regions include Eagle Ford with 60 rigs, Williston with 52 and Haynesville with 51. Other top states include Louisiana with 56 rigs and North Dakota and Oklahoma each with 50.