Texas is where the drilling action is
Texas continues to have an enormous slice of worldwide drilling activity, as companies hunt for crude oil and natural gas in formations across the state.I think there will also be growth in the Cline formation in West Texas near the Permian Basin. It looks like it will have more oil than the Eagle Ford. In Contrast, California only has 37 active rigs despite having a huge Monterey shale formation. It is a good demonstration of the negative effects of the anti energy left where they control the politics.
The state has 843 drilling rigs – about 48 percent of U.S. drilling rigs and 26 percent of rigs worldwide, according to the latest Baker Hughes Rig Count.
Most of the rigs are operating in five major plays across the state.
The Permian Basin in West Texas has 399 rigs, the Eagle Ford in South Texas has 227 rigs, the Granite Wash in the Panhandle has 43 rigs, the Barnett Shale in North Texas has 36 rigs and the Haynesville Shale in East Texas has 19 rigs.