US Drops 10 Oil, Gas Rigs

US Drops 10 Oil, Gas Rigs
The U.S. scrapped a total of 10 oil and gas rigs this week.

The U.S. dropped 10 oil and gas rigs this week, according to weekly data compiled by Baker Hughes, a GE Company.

The nation dropped nine oil rigs and one gas rig, bringing the overall rig count to 1,016. This marks the fifth consecutive week of declines.

Leading the way for declines is the Permian Basin, located in West Texas and New Mexico. This week the Permian scrapped five rigs, bringing the total number of active rigs in the Permian to 459. This makes up almost half of all of the U.S.’ active rigs.

The Arkoma Woodford, Cana Woodford and Haynesville each dropped one rig this week, rounding out the major basins who saw declines.

The Utica and Williston added one rig apiece.

Several states saw rig declines this week. They are Texas (-4), Louisiana (-3), New Mexico (-2), Oklahoma (-2), Alaska (-1) and West Virginia (-1).

North Dakota, Ohio and Pennsylvania added one rig apiece.


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