The Railroad Commission of Texas (RRC) reported that it issued 38% more original drilling permits year/year across the Lone Star State in February.

RRC

The natural gas and oil industry regulator granted 836 drilling permits in February, compared to 606 during the same month last year.

Texas, particularly the Permian Basin, has been leading “the U.S. onshore in completion activity,” Primary Vision’s Mark Rossano, partner/lead analyst, told NGI. “The Permian is operating at levels we saw in 2018/2019 given the pricing and proximity to the coast, but we are currently running at or near full utilization rates in the area.”

The most recent Baker Hughes Co. (BKR) rig count for the week ending April 1 showed a 44% year/year increase in Permian drilling units.

Of the 836...