US Drops 15 Oil Rigs
The U.S. dropped 15 oil rigs and added one gas rig this week for a net loss of 14 rigs, according to weekly data from Baker Hughes, a GE Company.
This week’s rig decline comes on the heels of nine rigs being added last week – the first time this year that the nation added rigs.
Alaska and Oklahoma saw the steepest declines at four each, followed by Texas (-3) and Kansas and Louisiana, which each lost one rig. North Dakota added one rig.
Among the major basins, aside from the oil-producing Mississippian adding four rigs this week, the rest either dropped rigs or the rig count remained flat.
The Permian and Granite Wash dropped three rigs apiece, while the Arkoma Woodford and Cana Woodford dropped one rig apiece.
The nation’s total rig count for the week is 1,045. This is still higher than one year ago when the rig count was 946.
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