US Drillers Drop Five Rigs

US Drillers Drop Five Rigs
The U.S. dropped five oil rigs and gained one gas rig for a net loss of four rigs this week.

The U.S. dropped oil rigs for the third week in a row, according to weekly data from Baker Hughes, a GE Company.

This week, the nation lost five oil rigs and gained one gas rig for a net loss of four rigs.

The overall rig count is now 983, down 76 from the count of 1,059 one year ago.

New Mexico led all states in losses with a decline of four rigs this week, followed by Colorado with a loss of two rigs and Ohio, Texas, Utah and Wyoming each with a loss of one rig.

California added three rigs and North Dakota, Pennsylvania and West Virginia added one rig apiece.

Among the major basins, the Marcellus added two rigs while the Eagle Ford and the Williston added one rig apiece.

The Cana Woodford and the Permian each dropped three rigs, the Mississippian dropped two rigs and the DJ-Niobrara and the Utica both dropped one rig.


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