Drilling activity inched higher during the month of October as the rig count marked its first monthly increase since July.
Oilfield services firm Baker Hughes said Friday the US rig count fell by three to 768. Still, the rig count rose by three rigs for the month and is 224 rigs or 41% higher than the 544 at work a year ago.
There were 610 rigs drilling for crude, down two for the week but up six rigs for the month and 166 more than the 144 reported last year. There were 156 rigs drilling for natural gas, down one for the week and the lowest since July. There were three fewer rigs drilling for natural gas in October, the first monthly decrease since August of 2021.
Like the US, Texas dropped three rigs during the week, reporting 368 at work statewide – 118 more than the 250 counted last October. New Mexico added one rig for 106. Alaska (1) and Oklahoma (1) joined New Mexico as producing states to see rig count increases while Louisiana (2) and North Dakota (2) joined Texas in seeing lower rig activity for the week.
Mid Continent Drilling Report
Drilling in the Permian Basin continued to remain flat at 346 rig, unchanged for the week and 78 rigs more than the 268 drilling regionwide last year.
Lea County, New Mexico, remains the most active county in the Permian with 67 rigs, up one for the week. Eddy County, New Mexico, remains second with 36 rigs, unchanged for the week.
Martin and Reeves counties hold third at 35 rigs each, unchanged for Martin and up one rig for Reeves. Midland County had 31 rigs for a sixth week. Loving County added a rig for 24 while Upton County continued to report 19 rigs. Howard County had 18 rigs for a third week while Ward County had 16, down one for the week. Glasscock County had a rig count of 14 for a sixth week.
Enverus Foundations, part of the energy-focused Software as a Service firm Enverus, said its US rig count rose 11 to 894 as of Oct. 26. The count is flat in the last month, but up 36% in the last year.
All major regions saw increases in active rigs, with the Anadarko Basin adding three rigs to reach 83 and the Permian up by two at 331, equaling its 2022 high. The Gulf Coast (121 rigs), Appalachian Basin (57), Williston Basin (43) and DJ Basin (23) gained a rig each.
Mid Continent Rig Map (click for access)
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