Permian Rig Count Losses Stay in Double Digits



Permian Rig Count Losses Stay in Double Digits
Year on year, the US rig count is down 648 rigs from last year's 987.

The U.S. rig count is down 35 rigs from the previous week to 339, with oil rigs down 34 to 258, gas rigs down one at 79, and miscellaneous rigs unchanged at two, according to current numbers from Baker Hughes.

Year on year, the U.S. rig count is down 648 rigs from last year's 987, with oil rigs down 544, gas rigs down 106, and miscellaneous rigs up two to two. The Permian Basin, a star region during the heyday of shale production and unconventional drilling innovation, continues to have double-digit rig count declines on a weekly basis.

The U.S. Offshore Rig Count is down three at 12 and down 10 year-over-year, according to Baker Hughes.

Meanwhile, in Canada the rig count dropped three rigs from the previous week to 23, with oil rigs flat at seven and gas rigs down three to 16. The region is down 40 rigs from last year's 63, with oil rigs down 15 and gas rigs down 25.

The following states dropped rigs last week:

Louisiana -3

New Mexico -4

North Dakota -4

Oklahoma -1

Texas -23

The rig counts for all the major basins remained flat except for the following changes:

Ardmore Woodford -1

Eagle Ford -3

Permian -23

Williston -4

To contact the author, email bertie.taylor@rigzone.com.



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Thomas Bath  |  May 18, 2020
There were over 4000 rigs running in the US when I started in 1981. More than 200 in the US offshore. The US Oil business is tiny compared to then.