US Scraps Another 10 Oil, Gas Rigs



US Scraps Another 10 Oil, Gas Rigs
Following a week of declines, the U.S. experienced another drop in its oil and gas rig count.

After a rig count decline of 10 last week, the U.S. dropped another 10 oil and gas rigs this week, according to weekly data from Baker Hughes, a GE Company.

This is the sixth consecutive week of declines.

The nation’s oil rigs fell by eight while gas rigs dropped by two. That brings this week’s total rig count to 1,006 – still higher than the count of 993 one year ago.

Texas saw the biggest weekly dip with a loss of six rigs. Colorado scrapped four rigs, Alaska three, California two and Oklahoma and Utah one.

Louisiana and North Dakota saw a gain of three rigs apiece.

Like last week, the Permian Basin saw the steepest decline, losing another five rigs this week. That brings the total number of active rigs in the Permian to 454. The Permian still accounts for almost half of the nation’s total rigs and more than half of its oil rigs.

Other major basins that lost rigs this week are the:

  • Eagle Ford (-4)
  • Cana Woodford (-3)
  • DJ-Niobrara (-2)
  • Mississippian (-1)

The Williston added three rigs while the Granite Wash added two rigs.   



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