US Rig Count Continues its Decline

The U.S. dropped a total of 15 rigs this week, according to data from Baker Hughes Company.

The loss included 11 oil rigs and four gas rigs. There were 14 land rigs and one offshore rig.

This week’s declines keep the nation’s total number of active rigs below 800, at 781. This is 294 fewer rigs than the count of 1,075 one year ago.

Texas led all states in losses at seven rigs. Several other states idled rigs this week. They are:

• Louisiana (-3)
• New Mexico (-2)
• Alaska (-1)
• Colorado (-1)
• North Dakota (-1)
• Ohio (-1)
• Wyoming (-1)

Among the major basins, the Permian shed a total of six rigs. At a count of 397, the Permian still accounts for more than half of the nation’s active rigs.

The Haynesville lost four rigs while the DJ-Niobrara, Utica and Williston each idled one unit.

The Ardmore Woodford, Cana Woodford and Marcellus tacked on one rig apiece.

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