US Rig Count Sinks to 318
The U.S. rig count is down 21 rigs from the previous week to 318, with oil rigs down 21 to 237, gas rigs flat at 79, and miscellaneous rigs unchanged at two, according to current numbers from Baker Hughes.
Year on year, the U.S. rig count is down 665 rigs from last year's 983, with oil rigs down 560, gas rigs down 107, and miscellaneous rigs up two to two. The Permian Basin continues to be a frontrunner in basin declines, losing an additional 13 rigs from the previous week.
The U.S. Offshore Rig Count is flat at 12 and down 10 year-over-year, according to Baker Hughes.
Meanwhile, in Canada the rig count dropped two rigs from the previous week to 21, with oil rigs up one to eight and gas rigs down three to 13. The region is down 57 rigs from last year's 78, with oil rigs down 30 and gas rigs down 27.
The following states dropped rigs last week:
New Mexico -3
North Dakota -2
The rig counts for all the major basins remained flat except for the following changes:
Eagle Ford -2
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