Drilling activity in the United States saw a slight decrease this week, breaking a streak that lasted for three weeks, as reported by oilfield services firm Baker Hughes. The U.S. rig count dropped by one rig to 584, marking the lowest level in about two months and a 6% decrease compared to last year.
The number of rigs drilling for oil also fell by one to 478, reaching the lowest level since July 19. On the other hand, the rigs seeking natural gas decreased by one to 101. Texas lost two rigs, bringing the total to 279, while New Mexico gained two rigs for a total of 102. Other producing states like Oklahoma and Utah saw declines in rig count.
In the Permian Basin, there was no change in the rig count, with 303 rigs operating, down by eight from the previous year. Eddy County, New Mexico, was the most active county in the Permian with 50 rigs, showing an increase of three rigs. Midland County maintained its 30 rigs for the second consecutive week, while other counties like Martin, Reeves, and Loving also saw fluctuations in rig counts.
Enverus reported that the U.S. rig count remained unchanged at 582 rigs, showing an 11% decrease from the previous year. ExxonMobil continued to lead the list of active producers with 36 rigs, followed by Occidental Petroleum and ConocoPhillips. The Permian Basin rig count decreased by two rigs to 287, with the Delaware play remaining the most active.
Looking at trailing 30-day drilling permits, the Permian Basin saw an increase from the previous week and year, reaching 697 permits. However, the number of frac crews decreased to 106 from 110 the previous week and 146 from a year earlier. Overall, the drilling activity in the U.S. showed some fluctuations this week, reflecting the ongoing changes in the oil and gas industry.