US Bucks Trend, Adds 18 Oil Rigs

US Bucks Trend, Adds 18 Oil Rigs
The U.S. has reversed the trend of rig loss to add a net total of 14 rigs this week.

Just ahead of the Christmas holiday, the U.S. tacks on 18 oil rigs, according to weekly data from Baker Hughes Company.

The gains were offset by the loss of four gas rigs, increasing the overall rig count by 14. The nation now has 813 active rigs, which is 267 fewer rigs than the count of 1,080 one year ago.

Texas led all states this week, adding a total of 18 rigs. New Mexico and Oklahoma were the only other two states to add rigs, tacking on one unit apiece.

Wyoming shed two rigs, while California, Kansas, North Dakota and Pennsylvania all lost one rig apiece.

Among the major basins, the Permian added the most rigs at 14. This brings the basin’s total number of active rigs to 414, accounting for more than half of the nation’s total.

The Eagle Ford gained seven rigs this week while the Barnett tacked on one.

The Cana Woodford shed two rigs this week and both the Marcellus and Williston dropped one rig each.

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