US Rig Count Drops by Eight

The U.S. rig count has declined for its third consecutive week.

The nation dropped five oil rigs and three gas rigs for a net loss of eight rigs, according to weekly data from Baker Hughes Co.

There are now 822 active rigs, down 245 from the count of 1,067 one year ago.

The following states dropped rigs this week:

• Oklahoma (-3)
• New Mexico (-2)
• Pennsylvania (-2)
• Texas (-2)
• Alaska (-1)
• Colorado (-1)

Louisiana and Utah added two rigs apiece.

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

• Marcellus (-2)
• Granite Wash (-1)
• Haynesville (-1)
• Mississippian (-1)
• Permian (-1)

The Permian now has 416 active rigs, which accounts for more than half of the nation’s total of active rigs.

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