The Permian Basin in Texas has largely deflected the statistical brunt of declining U.S. rig counts but the state continues to see rigs, permits and completions plummet, the Texas Railroad Commission (RRC) said April 8.
The commission issued 45% fewer original drilling permits in March compared to the same time in 2015—permitting fell to 511 compared to 923 in March 2015.
The commission also permitted re-entry of five well bores and recompletion of 99 wells in March 2016. The permits included 129 oil wells, 30 gas wells, 312 oil or gas wells, 30 injection and 10 other permits.
Through 2016, well completions are 3,452—down from 5,946 recorded during the same period in 2015, the RRC said.
Baker Hughes Inc. (NYSE: BHI) said April 7 that the U.S. rig count for March was 478, down 54 from the 532 counted in February. Quarter to date, the count is down 237 rigs.
By sheer numbers, the Permian and Eagle Ford regions have been hardest hit by the downturn in Texas and overall rigs are down 75% since 2014.
Darren Barbee can be reached at dbarbee@hartenergy.com.
Recommended Reading
SLB Capturi Completes Its First Modular Carbon Capture Plant
2025-01-23 - The Netherlands facility will capture up to 100,000 metric tons of CO2 annually, SLB said in a news release.
SLB Enters Technology Collaboration with Indonesian Geothermal Firm
2025-01-22 - SLB and Star Energy Geothermal will focus on technologies for subsurface characterization, drilling and production of geothermal assets.
Solar, Clean Energy Face Headwinds Amid Post-Election Uncertainty
2025-01-22 - With a new Trump administration taking charge, renewable energy, including solar, may face headwinds that stagnate project development or continue it at a slower pace, analysts say.
DOE Awards Two More Hydrogen Hubs Initial Funding
2025-01-22 - The awards were announced days before President Donald Trump directed federal agencies to pause disbursement of funds appropriated through the Infrastructure Investment and Jobs Act.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.