US Drops 11 Oil and Gas Rigs



US Drops 11 Oil and Gas Rigs
The U.S. scrapped a total of 11 oil and gas rigs this week, according to Baker Hughes, a GE Company.

The U.S. scrapped a total of 11 oil and gas rigs this week, according to weekly data from Baker Hughes, a GE Company.

This marks the third consecutive week for the nation’s rig declines.

The U.S. dropped nine oil rigs and two gas rigs to bring the weekly rig count to 1,027. This is still 43 more than the count of 984 a year ago.

States that saw rig declines include Ohio (-5), Alaska (-4), North Dakota (-3), New Mexico (-2) and Texas (-1).

Pennsylvania added three rigs while Louisiana and Oklahoma added one rig apiece.

Among the major basins, the Marcellus, Granite Wash and Cana Woodford are the only ones who saw gains this week at 3, 2 and 2, respectively.

The Utica saw the most declines at five, while the Williston lost three rigs and the Barnet, Eagle Ford, Mississippian and Permian shed one rig apiece.



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