US Rig Count Falls to 465
The U.S. rig count is down 64 rigs from the previous week to 465, with oil rigs down 60 to 378, gas rigs down four at 85, and miscellaneous rigs unchanged at two, according to current numbers from Baker Hughes.
Year on year, the U.S. rig count is down 526 rigs from last year's 991, with oil rigs down 427, gas rigs down 101, and miscellaneous rigs up two to two.
The U.S. Offshore Rig Count is flat at 17 and down four year-over-year, according to Baker Hughes.
Meanwhile, in Canada the rig count dropped four rigs from the previous week to 26, with oil rigs up one to eight and gas rigs down five to 18. The region is down 37 rigs from last year's 63, with oil rigs down 11 and gas rigs down 26.
The following states dropped rigs last week:
New Mexico -14
North Dakota -7
West Virginia -3
The rig counts for all the major basins remained flat except for the following changes:
Arkoma Woodford -1
Cana Woodford -3
Eagle Ford -7
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