US Drops Eight Oil Rigs

The U.S. dropped eight oil rigs this week while the number of gas rigs remained flat, according to data from Baker Hughes Co.

This week’s drop brings the nation’s total number of active rigs to 805, which is 278 fewer rigs than the count of 1,083 one year ago.

The rig count for most states remained flat, but Texas was the only to see declines. The oil-rich state lost 14 rigs this week.

States adding rigs were:

• New Mexico (2)
• Alaska (1)
• North Dakota (1)
• Oklahoma (1)
• Pennsylvania (1)
• Wyoming (1)

Among the major basins, the Permian led in declines with nine rigs lost. Despite this week’s losses, at 405 rigs, the Permian still accounts for nearly half of active rigs in the U.S. The Cana Woodford dropped two units, while the Barnett and Haynesville dropped one rig apiece.

The Marcellus and Williston each added one rig this week.

To contact the author, email Valerie.Jones@Rigzone.com