US Drillers Lose 18 Oil, Gas Rigs

US Drillers Lose 18 Oil, Gas Rigs
The U.S. lost a net total of 18 oil and gas rigs this week.

The U.S. saw its rig count drop for another consecutive week, according to weekly data from Baker Hughes.

The nation’s decline of 14 oil rigs and five gas rigs was offset by the addition of one miscellaneous rig.

The total number of active rigs now sits at just 868, which is 185 fewer than the count of 1,053 one year ago.

Oklahoma, which is home to the Anadarko Basin along with Texas, led all states in losses this week with 10 rigs shed. Texas lost seven rigs.

Utah lost three rigs, California and North Dakota shed two rigs apiece and Louisiana and Wyoming lost one rig each.

Alaska and New Mexico tacked on one apiece.

Among the major basins, only the DJ-Niobrara saw its rig count increase, tacking on one rig.

The basins experiencing losses were:

  • Cana Woodford (-3)
  • Eagle Ford (-3)
  • Permian (-2)
  • Williston (-2)
  • Ardmore Woodford (-1)
  • Arkoma Woodford (-1)

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Tom Bath  |  September 24, 2019
They didn't lose any rigs, they know exactly where they are and they don't want them. They cut 18 rigs because the day rates are too high.

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