US Drops Six Oil, Gas Rigs

US Drops Six Oil, Gas Rigs
The U.S. dropped one oil rig and five gas rigs for a net loss of six rigs for the week.

The U.S. rig count dropped by six rigs for the week ending June 14, according to weekly data from Baker Hughes, a GE Company.

Oil rigs continued their decline with a loss of one last week, marking the fifth out of six weeks for declines. Gas rigs declined by five.

Texas led all states in weekly rig declines with a loss of six rigs, followed by Alaska and Wyoming, which lost one rig apiece.

Louisiana added two rigs.

Among the major basins, most rig counts remained flat.

The only changes were the Permian, which lost five rigs last week and the Eagle Ford, which lost one rig.

Despite the week’s losses, at 441 active rigs, the Permian still accounts for almost half of the nation’s rigs.

The U.S. had a weekly active rig count of 969. This is 90 fewer rigs than one year ago when the count was 1,059.


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