USA Weekly Rig Count as of 5/22/24

USA Weekly Rig Count as of 5/22/24

• Note: “Other” rigs are non-basin defined active rigs as per Baker Hughes

Baker Hughes Rig Count (as of 5/17/24)

• Current week total rig activity was at 604, up from 603 rigs the previous week (+1 rig, 5/10/24)

• Rig adds were in Haynesville (+1) and Other States (+4; +2 Texas; +1 Louisiana; +1 Oklahoma)

• Rig reductions were in three basins, Permian (-2), DJ-Niobrara (-1), and Eagle Ford (-1)

Rig Count by E&P (as categorized by OilGasLeads.com)

• Rig activity for the week of 5/12/24 by Companies Mentioned totaled 307, down from 312 rigs from the prior week

• Rig count leaders by E&P include XOM (37), COP (29), OXY (25) EOG (23), DVN (22), FANG (13), Endeavor (11)

• Rig adds were OXY (+1) and MUR (+1)

• Rig reductions were XOM (-2), EOG (-4), CVX (-1), COP (-1), and PR (-1)

Companies Mentioned

• Exxon Mobil Corporation (XOM)

• Chevron Corporation (CVX)

• Chesapeake Energy Corporation (CHK)

• Southwestern Energy Company (SWN)

• ConocoPhillips (COP)

• EOG Resources, Inc. (EOG)

• EQT Corporation (EQT)

• Occidental Petroleum Corporation (OXY)

• Coterra Energy Inc. (CTRA)

• Devon Energy Corporation (DVN)

• Antero Resources Corporation (AR)

• Ovintiv Inc. (OVV)

• Diamondback Energy, Inc. (FANG)

• Endeavor Energy Resources, LP (Private)

• Marathon Oil Corporation (MRO)

• APA Corporation (APA)

• Range Resources Corporation (RRC)

• Comstock Resources, Inc. (CRK)

• Permian Resources Corporation (PR)

• Matador Resources Company (MTDR)

• Civitas Resources Inc. (CIVI)

• CNX Resources Corporation (CNX)

• Murphy Oil Corporation (MUR)

• Chord Energy Corporation (CHRD)

• Magnolia Oil & Gas Corporation (MGY)

• SM Energy Company (SM)

• Crescent Energy Company (CRGY)

• High Peak Energy Inc. (HPK)

_{Disclaimer: All information contained in this publication has been researched and compiled from sources believed to be accurate and reliable at the time of publishing. However, in view of the natural scope for human and/or mechanical error, either at source or during production, Patrick Enwright accepts no liability whatsoever for any loss or damage resulting from errors, inaccuracies or omissions affecting any part of the publication. All information is provided without warranty, and Patrick Enwright makes no representation of warranty of any kind as to the accuracy or completeness of any information hereto contained.}