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Permian Basin on the cusp of 200 rigs

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Written by: Trevor Hawes

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57c0c66b1e51d.imageThe Permian Basin has seen rig count gains for the 12th straight week, and Midland County continues to have the most activity of any county nationwide.

The Permian added three rigs this week for a total of 199, according to data from Baker Hughes. Midland County held steady at 36 rigs, and Reeves rose one to 26. Loving idled three rigs, which left 13 countywide. Martin was unchanged at 12.

District 8 fell one to 131. In other areas operating in the Permian, District 7B increased to four after Nolan County saw renewed activity. District 7C was unchanged at 22. Increased activity in Yoakum and Borden counties pushed District 8A’s count up three to 12. New Mexico was unchanged at 30 after a new rig in Eddy County was offset by one idled in Lea.

Nolan wasn’t the only county with renewed activity in the Permian. Hockley snapped three weeks of inactivity after one rig went online. Nolan went four weeks without rigs. Sterling ceased all activity.

The Permian had 255 rigs at this time last year.

TEXAS & NEW MEXICO

Texas’ run of three consecutive weeks of gains halted after the Lone Star State lost a rig, lowering its tally to 237. Eighty-three percent of all rigs in the state were in the Permian.

The Eagle Ford had 35 rigs, down one. The Barnett also lost a rig, leaving four in the North Texas basin. The Haynesville and Granite Wash were unchanged at 14 and nine, respectively.

The state’s offshore rig count was unchanged at one, and there weren’t any rigs in inland waters.f

All of New Mexico’s rigs were in the Permian.

A year ago this week, there were 386 rigs in Texas and 50 in New Mexico.

UNITED STATES

The nation’s oil rig count was unchanged at 406, as was the miscellaneous count at two. Natural gas rigs, however, fell two to 81. In total, the U.S. had 468 rigs, down two. There were 468 rigs on land, down two; four in inland waters, up one; and 17 rigs offshore, down one. All offshore rigs were in the Gulf of Mexico.

By drilling trajectory, there were 379 horizontal rigs, down three; 62 vertical rigs, down two; and 48 directional rigs, up three.

The U.S. had 877 rigs at this time last year.

MOST-ACTIVE

The basins with the most activity this week were the Permian, the Eagle Ford, the Cana Woodford (32), the Williston (27) and the Marcellus (25).

The most-active states were Texas, Oklahoma (62), Louisiana (42), New Mexico and North Dakota (27).

CANADA & NORTH AMERICA

Canada jumped to 146 after 25 rigs were added, 19 of which were oil and six were natural gas. In total, it had 84 oil rigs and 62 natural gas rigs. Canada had 196 rigs a year ago this week.

The total number of rigs in the North America region rose 23 this week to 635. At this time last year, there were 1,073 rigs in North America.

Like Trevor on Facebook and follow him on Twitter at @HowdyHawes.

***

The following are county-by-county rig counts in the Permian Basin for the week ending Aug. 26, with changes in parentheses.

DISTRICT 7B

Nolan    1 (+1)

Stonewall            3

Total      4 (+1)

DISTRICT 7C

Irion       2

Reagan 10

Upton   10

Total      22

DISTRICT 8

Andrews              6

Culberson           4

Ector      2

Glasscock            6

Howard                9

Loving   13 (-3)

Martin  12

Midland               36

Mitchell                1

Pecos    5

Reeves 26 (+1)

Sterling 0 (-1)

Ward     7 (+2)

Winkler 4

Total      131 (-1)

DISTRICT 8A

Borden 2 (+1)

Crosby  1

Dickens 1

Gaines  1 (-1)

Hockley                1 (+1)

Scurry   3

Yoakum                3 (+2)

Total      12 (+3)

NEW MEXICO

Eddy      10 (+1)

Lea         20 (-1)


TAGS: Oil, Rigs


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Written by: Trevor Hawes

Click HERE to Read Article From Publisher

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