The latest rig count from the data analytical firm Enverus in Austin, Texas showed a decline in the number of active oil and gas rigs in the past week across the nation. The conclusion—more rigs remain in storage awaiting better times.
Enverus Rig Analytics reported the count fell by five to 401 as of Dec. 16. Despite the fall, the count is still up 8% in the past month but remains down 52% compared to one year ago.
The data showed the Anadarko basin count declined to 21 while the Permian Basin of West Texas and eastern New Mexico increased by four to 176 active rigs.
The DJ Basin in Colorado and the Gulf Coast basins were down two leaving seven in the DJ and 40 in the Gulf Coast.
The Appalachia increased by one to 38 rigs.
“There may be roughly 4,300 active permits to drill new wells in Colorado, but it doesn’t appear that operators are rushing to drill those wells before the state’s new setback rules take effect Jan. 15,” reported Enverus.
In mid-January, the new wells in Colorado will be required to be at least 2,000 feet from any homes, schools or offices. Undrilled permits will also be required to be resubmitted under the new rules.
Colorado has only 7 active rigs in the DJ Basin and are in Weld County in the northern part of the state.
Permian rig activity is up by 20 in the last month. The largest gains were in Lea County, New Mexico (up eight to 35), and Reagan County, Texas (up four to seven). Pioneer Natural Resources accounts for half of the Reagan increase, adding two rigs for a total of three in the county. EOG added the most in Lea County in the last month, increasing its count there by three to reach 10.
Source: Enverus