Permian tally rises to 130
The U.S. rig count continues to claw its way back from record lows brought about by the COVID-19 pandemic and oil market crash.
James Durbin/Midland Reporter-TelegramThe U.S. rig count continues to claw its way back from record lows brought about by the COVID-19 pandemic and oil market crash.
Baker Hughes, which has tracked the rig count weekly since the 1940s, reported Friday that the rig count posted its fourth consecutive rise, rising three rigs to 269 at work nationally. There were 193 rigs drilling for oil, up four for the week, and 73 drilling for natural gas, down one for the week. The rig count is 587 rigs below the 856 at work this time a year earlier.
Texas added three rigs for 116 at work statewide, down 304 from the 420 Baker Hughes reported last year.
New Mexico joined Texas as the only producing state to gain rigs, rising one to 45. Pennsylvania was the only producing state to decline, dropping one rig.
The Permian Basin added one rig to 130 but is 291 rigs below the 421 a year ago.
Eddy County, New Mexico, remains the most active in the Permian with 25 rigs, up one. Lea County, New Mexico, followed with 20 rigs, unchanged for the week.
Martin County reported 18 rigs at work within county lines, the same as the previous week. Midland County had 16 rigs, down one for the week.
Cochran County saw renewed activity with one rig at work, while Borden, Hockley and Yoakum counties didn’t have any activity this week.