The Texas rig count leads the next largest state in the U.S. by more than 700 rigs. That’s a lead of 700 in a market that is less than 2,000 rigs. The state employs almost 400 more rigs than the entire country of Canada. That’s why “oil & gas” and “Texas” are synonymous. You simply don’t have much of an industry in the U.S. without Texas. The state has led for a long time and will continue to lead with long-term development plays like the Barnett, Eagle Ford, Granite Wash, and Haynesville, as well as multiple Permian Basin plays.
Texas minerals and the owners benefit from having the industry active and close. Minerals are generally more likely to be drilled in the Lone Star State than in other states and countries. The history of the industry makes operating in the state more predictable. Oil & gas case law is well established and most regulations have been in place for decades.
The top five most active states, in terms of drilling as of September 23, 2011, are:
- Texas – 903
- Oklahoma – 198
- North Dakota – 190
- Louisiana – 152
- Pennsylvania – 109
US crude oil and natural gas drilling rig activity this week climbed another 6 units, reaching a total of 1,991 rigs working. This week’s count is up by 341 units from the comparable period a year ago, Baker Hughes Inc. reported.
Most of the gain was seen in land rigs, which was up 5 rigs to 1,939 working. The total of offshore rigs was up 1 unit to 33 working. Inland water rigs, meanwhile, remained unchanged at 19.
Of the US rigs working, 1,071 were drilling for oil, up 9 rigs compared with last week. Rigs drilling for natural gas for the week ended Sept. 23 remained unchanged at 912 working.
There were 8 rotary rigs unclassified, which was down 3 rigs from last week.
Directional drilling activity increased by 1 unit to 242. Horizontal drilling gained 3 rigs to 1,140 units.
Read the full news release at ogj.com