Five Permian counties drop out of rig count

Several counties this week ceased rig activity in the Permian Basin, according to Baker Hughes data. Cochran, Hockley, Nolan, Mitchell and Stonewall counties recorded rigs last week but didn’t have any this week, which helped push down the Permian’s basinwide count by four to 476. Eddy County, New Mexico, surged by six rigs to 51. Reeves continued to lead all other counties with 71 rigs. Midland County saw three idled rigs lower its count to 42. Other counties with double-digit rig counts this week were Lea, New Mexico (39); Loving (36); Martin (35); Howard (26); Ward (26); Reagan (25); Winkler (18); Culberson (17); Upton (17); Andrews (16); Glasscock (15); and Pecos (15). Texas’ statewide rig count fell by four to 534. Of that tally, 385 were in the Permian. New Mexico’s statewide count rose by three to 93. Its pair of non-Permian rigs were in San Juan County in the northwestern part of the state...MORE