US Drillers Drop 11 Rigs
The U.S. dropped eleven oil rigs this week and added two gas rigs for a net loss of nine rigs, according to weekly data from Baker Hughes, a GE Company.
This brings the nation’s total active rig count to 975, which is 87 fewer than one year ago when active rigs totaled 1,062.
This week makes four out of five weeks of declines for oil rigs. Last week, the U.S. added three oil rigs.
Texas dropped seven rigs this week, followed by Pennsylvania (-2) and Alaska, North Dakota, Oklahoma and West Virginia (-1 each).
Louisiana added four rigs.
Among the major basins, the Permian, which has exhibited continuous strong production growth this year, led all declines at six rigs.
The Marcellus dropped three rigs, while each the Cana Woodford, DJ-Niobrara, Eagle Ford and Williston dropped one rig.
The Haynesville added two rigs, while the Ardmore Woodford and Granite Wash added one rig apiece.
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