US Sees Biggest Weekly Rig Decline in Three Months
Following a weekly loss of 10 oil and gas rigs, the U.S. rig count took another dip Friday, dropping another 21 rigs.
According to weekly data from Baker Hughes, a GE Company, the U.S. dropped 20 oil rigs and one gas rig. This marks the biggest weekly decline since January.
The week’s losses also bring the nation’s total rig count to under 1,000 at 991. This is less than the count of 1,021 one year ago.
Texas led the rig declines, dropping nine rigs, while the following states also lost rigs:
- North Dakota (3)
- Wyoming (2)
- Alaska (1)
- California (1)
- Kansas (1)
- Louisiana (1)
- New Mexico (1)
- Pennsylvania (1)
Colorado added one rig.
Among the major basins, the Eagle Ford saw the most declines at four rigs, while the Permian and Williston dropped three rigs apiece, the Cana Woodford dropped two rigs and the Granite Wash and Utica dropped one rig apiece.
The Mississippian added two rigs.
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Senior Editor | Rigzone