Texas’ oil and gas regulator said Tuesday that the number of new drilling permits it issued has plummeted by more than half since last August.
The Railroad Commission of Texas issued a 864 original drilling permits in August 2015, a huge drop from the 2,440 original permits issued in August 2014.
As Rigzone noted, that fall represents a 65 percent year-over-year drop.
The August total included 730 permits to drill new oil or gas wells, 14 to re-enter plugged well bores and 120 for re-completions of existing well bores.
The commission issued 222 oil, 59 gas, 518 oil or gas, 54 injection, zero service and 11 other well permits in August.
In August 2015, commission staff processed 1,113 oil, 172 gas, 36 injection and 11 other completions compared to 2,157 oil, 303 gas, 92 injection and four other completions in August 2014.
Total well completions for 2015 year to date are 14,665, down from 20,657 recorded during the same period in 2014.
According to Baker Hughes, the Texas rig count fell to 366 rigs as of September 11.
Texas led the pack with a 9 rig loss last week, with drillers in the state’s Eagle Ford and Permian basins dropping three rigs in each play.
The state’s total rig count represents about 43 percent of all active rigs in the United States, the commission added.