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Texas running one-quarter of all drilling rigs

With 889 rigs currently operating, Texas is running 47% of the 1,873 drilling rigs currently operating within the US, according to Baker Hughes data published June 26. Held against May worldwide drilling rig figures of 3,371, Texas holds 26% of drilling rigs operating worldwide. Not only did Texas post the strongest growth in number of drilling rigs year over year—up 57 from last year’s total of 832, but the state’s current numbers equate to one-quarter of all drilling rigs on Earth.

While modern technology has made drilling more efficient, thus making the total number of rigs less significant, the data still points to the state’s stronghold in the oil and gas industry.  In fact, advances in horizontal drilling technology have resulted in a revival of drilling in Texas’s Permian Basin—the state’s No. 1 region for active drilling rigs. The area is up 88 rigs from last year, bringing the total to 554 rigs as of June 26. While the Eagle Ford lost 13 rigs from this time last year, the 227 rigs currently running are enough to hold region in the No. 2 spot for number of rigs drilling in the state.                                                                                                                            

 

 

 

(TX oil well/Shutterstock/mj007)

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