US Rig Count Plummets by 21



US Rig Count Plummets by 21
The Permian now accounts for more than half of the nation's total number of active rigs.

The U.S. has seen its rig count decline for the second week consecutive week, after snapping an almost two-month streak of declines.

The nation dropped 17 oil rigs and four gas rigs for a net loss of 21 rigs, according to weekly data from Baker Hughes Co. Twenty of them were land rigs and one was an offshore rig.

This brings the U.S.’ total number of active rigs to 830, down 238 from the count of 1,068 one year ago.

Oklahoma led all states in losses with a drop of six rigs. The following states also idled rigs this week:

  • Texas (-5)
  • North Dakota (-2)
  • Wyoming (-2)
  • Louisiana (-1)
  • New Mexico (-1)
  • Pennsylvania (-1)
  • Utah (-1)
  • West Virginia (-1)

Colorado added one rig.

Among the major basins, the Permian dropped five rigs. The Permian’s number of active rigs now sits at 417, which accounts for more than half of the nation’s total.

The Cana Woodford, Marcellus and Williston dropped two rigs each and the Ardmore Woodford and Granite Wash dropped one rig apiece.

The Eagle Ford and the Mississippian gained three rigs and one rig, respectively.

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



WHAT DO YOU THINK?


Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.