There might be a gasoline glut and oversupply of crude oil nationwide, but that hasn’t stopped Permian operators from putting new rigs online.
For the ninth straight week, the Permian Basin has seen a rig count increase. Oilfield services company Baker Hughes reported Friday a weekly gain of five to raise the nation’s most-active basin’s tally to 177. The count is 77 short of matching year-ago levels, but the Permian continues to rally, having added 43 rigs in a period when oil prices have only cracked $50 four times.
The Permian is 32 rigs from the year-high 209, recorded the week ending Jan. 8, the first full week of 2016.
Midland County also saw gains this week, adding one rig for a total of 35. It’s still the leader in the Midland Basin. The Delaware Basin’s Reeves County idled two rigs for a total of 22, a tally matched by Lea County, N.M., which added two rigs. Other counties with double-digit rig counts were Loving and Martin, both of which had 14.
Stonewall is the lone county operating in the Permian in District 7B. It saw the addition of two more rigs this week. It now has three rigs total. District 7B hasn’t recorded more than one rig since the week ending Jan. 15, when Baker Hughes reported three rigs.
In other areas operating in the Permian, District 7C was unchanged at 22 rigs, District 8 rose two to 114, District 8A fell one to eight and New Mexico rose two to 30. New Mexico hasn’t cracked into the 30s since the week ending June 15, when 30 rigs were reported.
The Texas total for Permian activity was 147, up three.
The only lone county in the Permian to see a cessation of all activity was Hockley, which dropped its lone rig.
TEXAS & NEW MEXICO
Texas finished the week with 217 rigs, up three. The Eagle Ford’s count rose four to 37, and the Barnett fell one, leaving four rigs in the North Texas basin.
The Haynesville and Granite Wash were unchanged at 15 and nine, respectively.
Texas held steady at one rig offshore. There weren’t any rigs operating in inland waters.
New Mexico recorded 30 rigs, up two. All of New Mexico’s rigs were in the Permian.
At this time last year, there were 383 rigs in Texas and 54 in New Mexico.
Texas finished the week with 217 rigs, up three. The Eagle Ford’s count rose four to 37, and the Barnett fell one, leaving four rigs in the North Texas basin.
The Haynesville and Granite Wash were unchanged at 15 and nine, respectively.
Texas held steady at one rig offshore. There weren’t any rigs operating in inland waters.
New Mexico recorded 30 rigs, up two. All of New Mexico’s rigs were in the Permian.
At this time last year, there were 383 rigs in Texas and 54 in New Mexico.
UNITED STATES
The nation’s rig count was up a tick to 464 after one rig was added. Seven oil rigs went online, while five natural gas rigs and one miscellaneous rig went offline. There were 381 oil rigs, 81 natural gas rigs and two miscellaneous rigs.
By location, there were 443 rigs on land, up three; four in inland waters, unchanged; and 17 offshore, down two. All offshore rigs were in the Gulf of Mexico.
By drilling trajectory, there were 362 horizontal rigs, up eight; 58 vertical rigs, down three; and 44 directional rigs, down four.
The U.S. had 864 rigs at year ago this week.
The nation’s rig count was up a tick to 464 after one rig was added. Seven oil rigs went online, while five natural gas rigs and one miscellaneous rig went offline. There were 381 oil rigs, 81 natural gas rigs and two miscellaneous rigs.
By location, there were 443 rigs on land, up three; four in inland waters, unchanged; and 17 offshore, down two. All offshore rigs were in the Gulf of Mexico.
By drilling trajectory, there were 362 horizontal rigs, up eight; 58 vertical rigs, down three; and 44 directional rigs, down four.
The U.S. had 864 rigs at year ago this week.
MOST-ACTIVE
The basins with the most activity this week were the Permian, the Eagle Ford, the Cana Woodford (29), the Williston (28) and the Marcellus (21).
The most-active states were Texas, Oklahoma (61), Louisiana (42), New Mexico and North Dakota (28).
The basins with the most activity this week were the Permian, the Eagle Ford, the Cana Woodford (29), the Williston (28) and the Marcellus (21).
The most-active states were Texas, Oklahoma (61), Louisiana (42), New Mexico and North Dakota (28).
CANADA & NORTH AMERICA
Canada’s rig count rose three to 122. Its oil rig count was unchanged at 60. Natural gas rigs rose two to 60, and rigs listed as miscellaneous rose one to two. Canada had 208 rigs a year ago this week.
The total number of rigs operating in North America this week rose four to 586. At this time last year, there were 1,092 rigs in North America.
Canada’s rig count rose three to 122. Its oil rig count was unchanged at 60. Natural gas rigs rose two to 60, and rigs listed as miscellaneous rose one to two. Canada had 208 rigs a year ago this week.
The total number of rigs operating in North America this week rose four to 586. At this time last year, there were 1,092 rigs in North America.
INTERNATIONAL
On Friday, Baker Hughes released its international rig counts for July. There were 1,481 rigs worldwide, up 74 since the previous month. The U.S. had 449 rigs, accounting for 30.32 percent of all rigs worldwide.
The following are international rig counts by region, with the top three counts for each region in parentheses:
— Africa, 82 (Algeria, 55; Kenya, 10; Angola, 5)
— Asia-Pacific, 186 (India, 113; China offshore, 28; Indonesia, 17)
— Europe, 94 (Turkey, 29; Norway, 20; United Kingdom offshore, 10)
— Latin America, 186 (Argentina, 72; Venezuela, 50; Mexico, 23)
— Middle East, 390 (Saudi Arabia, 125; Oman, 65; Abu Dhabi, 48)
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The following are county-by-county Permian Basin rig counts, with changes in parentheses:
DISTRICT 7B
Stonewall 3 (+2)
Total 3 (+2)
On Friday, Baker Hughes released its international rig counts for July. There were 1,481 rigs worldwide, up 74 since the previous month. The U.S. had 449 rigs, accounting for 30.32 percent of all rigs worldwide.
The following are international rig counts by region, with the top three counts for each region in parentheses:
— Africa, 82 (Algeria, 55; Kenya, 10; Angola, 5)
— Asia-Pacific, 186 (India, 113; China offshore, 28; Indonesia, 17)
— Europe, 94 (Turkey, 29; Norway, 20; United Kingdom offshore, 10)
— Latin America, 186 (Argentina, 72; Venezuela, 50; Mexico, 23)
— Middle East, 390 (Saudi Arabia, 125; Oman, 65; Abu Dhabi, 48)
Like Trevor on Facebook and follow him on Twitter at @HowdHawes.
***
The following are county-by-county Permian Basin rig counts, with changes in parentheses:
DISTRICT 7B
Stonewall 3 (+2)
Total 3 (+2)
DISTRICT 7C
Crockett 1
Irion 2
Reagan 9
Tom Green 1
Upton 9
Total 22
Crockett 1
Irion 2
Reagan 9
Tom Green 1
Upton 9
Total 22
DISTRICT 8
Andrews 1 (-2)
Culberson 3
Ector 1
Glasscock 3 (-1)
Howard 8
Loving 14 (+1)
Martin 14 (+1)
Midland 35 (+1)
Pecos 4 (+1)
Reeves 22 (-2)
Ward 5
Winkler 4 (+1)
Total 114 (+2)
Andrews 1 (-2)
Culberson 3
Ector 1
Glasscock 3 (-1)
Howard 8
Loving 14 (+1)
Martin 14 (+1)
Midland 35 (+1)
Pecos 4 (+1)
Reeves 22 (-2)
Ward 5
Winkler 4 (+1)
Total 114 (+2)
DISTRICT 8A
Borden 1
Dawson 1
Dickens 1
Gaines 1
Hockley 0 (-1)
Scurry 2
Yoakum 2
Total 8 (-1)
Borden 1
Dawson 1
Dickens 1
Gaines 1
Hockley 0 (-1)
Scurry 2
Yoakum 2
Total 8 (-1)
NEW MEXICO
Eddy 8
Lea 22 (+2)
Total 30 (+2)
By: Trevor Hawes (Midland Reporter-Telegram).
Photo: Texler Gulf.
Review: Emerging Market Formulations & Research Unit, FLAGSHIP RECORDS.
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Eddy 8
Lea 22 (+2)
Total 30 (+2)
By: Trevor Hawes (Midland Reporter-Telegram).
Photo: Texler Gulf.
Review: Emerging Market Formulations & Research Unit, FLAGSHIP RECORDS.
For The #FacebookTeam