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Permian inches closer to 200-rig mark

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Written by: Trevor Hawes

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The Permian Basin saw its 11th consecutive week of rig count gains and sits just four shy of reaching 200.

The nation’s most-active basin added seven rigs this week, raising the tally to 196, according to rig count data from Baker Hughes.

Midland County held steady at 36, while Reeves rose to 25 after adding two rigs. Loving and Martin were unchanged at 16 and 12 rigs, respectively.

District 8 added seven rigs for a total of 132, matching its second-highest count seen since the week ending Jan. 15. The highest district rig count (133) was recorded in the first full week of 2016.

In other districts with activity in the Permian, District 7B held steady at three rigs for the third straight week; District 7C regained the rig it lost last week to rise back to 22; District 8A was unchanged at nine; and New Mexico’s upward swing ended after dropping one rig to 30. The Texas total for the Permian was 166, up eight.

All counties that had activity last week continued to have activity this week.

At this time last year, there were 253 rigs in the Permian.

TEXAS & NEW MEXICO

Texas added eight rigs this week for a statewide total of 238. The Lone Star State has added 24 rigs over the last three weeks.

The Eagle Ford and Haynesville were unchanged at 36 and 14, respectively. The Barnett’s count grew to five after one more rig went online. The Granite Wash idled one rig, lowering its count to nine.

Texas was unchanged at one rig offshore. There weren’t any rigs in inland waters.

All of New Mexico’s activity was in the Permian.

A year ago this week, there were 383 rigs in Texas and 52 in New Mexico.

UNITED STATES

Ten more oil rigs went online in the U.S., raising the count to 406. Natural gas rigs were unchanged at 83, and miscellaneous rigs held steady at two.

In total, the U.S. had 491 rigs. There were 470 rigs on land, up nine; three in inland waters, unchanged; and 18 offshore, up one. All offshore rig activity was in the Gulf of Mexico.

By drilling trajectory, there were 382 horizontal rigs, up seven; 64 vertical rigs, up two; and 45 directional rigs, up one.

The U.S. had 885 rigs a year ago this week.

MOST-ACTIVE

Basins with the most activity were the Permian, the Eagle Ford, the Cana Woodford (32), the Williston (27) and the Marcellus (24).

States with the most activity were Texas, Oklahoma (62), Louisiana (43), New Mexico and North Dakota (27).

CANADA & NORTH AMERICA

Canada’s rig count slipped slightly to 121 after five rigs were idled. Oil rigs were unchanged at 65, natural gas rigs dropped four to 56 and the nation’s lone miscellaneous rig went offline. Canada had 208 rigs at this time last year.

The total number of rigs in the North America region was up five to 612. A year ago this week, there were 1,093 rigs in North America.

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

DISTRICT 7B

Stonewall            3

Total      3

DISTRICT 7C

Irion       2

Reagan 10

Upton   10 (+1)

Total      22 (+1)

DISTRICT 8

Andrews              6 (+1)

Culberson           4 (+1)

Ector      2

Glasscock            6

Howard                9 (+1)

Loving   16

Martin  12

Midland               36

Mitchell                1

Pecos    5 (+1)

Reeves 25 (+2)

Sterling 1

Ward     5

Winkler 4 (+1)

Total      132 (+7)

DISTRICT 8A

Borden 1

Crosby  1

Dickens 1

Gaines  2 (+1)

Scurry   3

Yoakum                1 (-1)

Total      9

NEW MEXICO

Eddy      9 (-1)

Lea         21

Total      30 (-1)


TAGS: Oil, Gas, Rigs, Permian Basin


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Written by: Trevor Hawes

Click HERE to Read Article From Publisher

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