Texas Rig Count (2024)

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Texas Rig Count

Texas Inland Rig Count is at a current level of 287.00, down from 291.00 last week and down from 371.00 one year ago. This is a change of -1.37% from last week and -22.64% from one year ago.

Basic Info. US Oil Rig Count is at a current level of 511.00, up from 506.00 last week and down from 588.00 one year ago. This is a change of 0.99% from last week and -13.10% from one year ago. The US Oil Rig Count measures the number of oil rigs functioning in the United States.

In the major plays, the Permian Basin rig count is at 315 rigs, up 1 from the February count.

The peak number was recorded during the oil boom in 1981, at 5,624 units. North America is the region with the greatest number of oil and gas rigs, the vast majority of which are on land.

Texas is by far the largest oil-producing state in the United States. In 2022, Texas produced a total of 1.8 billion barrels. In a distant second place is New Mexico, which produced 574.3 million barrels in the same year.

Texas Rig Count is at a current level of 290.00, down from 294.00 last week and down from 372.00 one year ago. This is a change of -1.36% from last week and -22.04% from one year ago.

US Rig Count is at a current level of 619.00, up from 617.00 last week and down from 748.00 one year ago. This is a change of 0.32% from last week and -17.25% from one year ago.

The oil and gas rig count dropped about 20% in 2023 after rising by 33% in 2022 and 67% in 2021, due to a decline in oil and gas prices, higher labor and equipment costs from soaring inflation and as companies focused on paying down debt and boosting shareholder returns instead of raising output.

How much do Texas oil rig workers make? ›

As of Apr 7, 2024, the average hourly pay for an Oil Rig Worker in Texas is $23.89 an hour.

Located in the Gulf of Mexico, approximately 200 miles south of Galveston, Texas, the Perdido oil platform is the world's deepest spar-type platform. Operated by Shell, it is moored in 2,450 meters (8,000 feet) of water and produces oil and gas from depths of between 2,300 and 2,800 meters (7,500 to 9,500 feet).

In 2022, the total production was 1.6 billion MCF for gas and 507 million BBL for oil. The monthly average production in the Permian Basin was 4,236 MCF for gas and 1,127 BBL for oil. The list of the top 5 Permian producers included Pioneer, Windsor, EDG, OXY, and ExxonMobil.

The explosion was followed by a fire that engulfed the platform. After burning for more than a day, Deepwater Horizon sank on April 22.

Bohai 2. In November 1979, the Bohai 2 jack-up rig capsized off the coast of China in the Bohai Gulf. Tragically, this accident led to the death of 72 of 76 workers onboard. While the rig was being towed between China and Korea, a storm with force 10 winds caused waves to crash over the main deck.

The Permian basin is the region with the largest number of oil rigs in the United States. As of end of February 2024, there were 308 active rigs in the basin.

As of August 2021, the Commission tracked 439,310 active and inactive oil and gas wells across Texas. Of this total, 149,200 wells are inactive, while the other 290,110 are active.

Oil and Gas Production in Texas

Currently (as of December 2018), 187,401 active oil wells and 98,709 active gas wells produce oil and natural gas in the state, according to the Railroad Commission of Texas.

So far, the State has converted over 50 old rigs. They start at the state waterline (nine nautical miles out) and go all the way to the edge of the continental shelf, 100 miles offshore. Texas Parks & Wildlife even made a handy interactive map to help you find them.