US Rig Count Down 701 From Last Year

US Rig Count Down 701 From Last Year
Oil exploration declined for a 14th straight week.

The U.S. rig count is down 13 rigs from the previous week to 266, with oil rigs down 10 to 189, gas rigs down three at 75, and miscellaneous rigs flat at two, according to current data from Baker Hughes.

Year on year, the U.S. count is down 701 rigs from last year's 967, with oil rigs down 600, gas rigs down 102, and miscellaneous rigs up one to two.

The U.S. Offshore rig count is down 2 rigs at 11 and down 13 year-over-year, according to Baker Hughes.

Meanwhile, in Canada the rig count is down four rigs from last week to 17, with oil rigs down two to five and gas rigs down two at 12. The region is down 102 rigs from last year's 119, with oil rigs down 75 and gas rigs down 27.

The following states dropped rigs last week:

Louisiana -2

New Mexico -5

North Dakota -1

Oklahoma -1

Texas -3

West Virginia -1

The rig counts for all the major basins remained flat except for the following changes:

Arkoma Woodford -1

Eagle Ford -2

Haynesville -1

Marcellus -1

Permian -5

Williston -1

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