US Rig Count Declines by Four
The U.S. dropped four oil rigs this week, according to weekly data from Baker Hughes, a GE Company.
The nation’s gas rig count remained flat this week. Overall, after this week’s loss, the U.S. rig count sits at 1,047 active rigs. This is higher than one year ago when the U.S. had 978 active rigs.
Louisiana and Oklahoma both shed two rigs this week, while Colorado, New Mexico and Texas each dropped one rig.
Alaska, California and West Virginia added one rig apiece.
Among the major basins, the Cana Woodford and the Barnett dropped three rigs and one rig, respectively.
The DJ-Niobrara, Granite Wash, Haynesville and Marcellus all added one rig.
The Permian Basin’s rig count remained flat this week at 473, accounting for more than half of the nation’s oil rigs.
Earlier this week, the U.S. Energy Information Administration (EIA) reported that it expects oil production in the Permian to reach a new record by exceeding four million barrels per day in March.
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