Rig Count Losses Grow in U.S. and Oklahoma

More oil and gas rigs were lost in the U.S. and in Oklahoma in the past week, according to figures from Baker Hughes Company and the losses reflect more dramatically the impact of the energy downturn in the nation. Oklahoma lost two more rigs, dropping to a count of 61, less than half of the 129 rigs the state had one year ago. Nationally, the count slipped by 14 to hit 450.

In the past week, the U.S. dropped 10 more oil rigs to reach 362 while the number of gas rigs fell by four, dropping to 88. The total count of 450 is a drop of 578 from the 1,028 rigs working in the U.S. last year at this time. In the past year, the loss has included 440 oil rigs and 134 gas rigs.

This week’s offshore rig count slipped by two to reach 26. That’s a decline of five from a year ago.

In Canada, the oil and gas rig count fell by 6 to reach 49.

Of the oil and gas plays in Oklahoma in the past week, the largest loss was seen in the Granite Wash where the count tumbled by four to reach only four. A year ago, the GW had 23 working rigs.

The Woodfords had a total of six compared to 14 last year. The Mississippian play dropped by two to reach only 5 working rigs. Consider just how much of a loss the Mississippian has seen in the past year. One year ago, the play had 40 working rigs. The Eagle Ford of south Texas added one to hit 42, a miserable comparison to the 137 a year ago. In the Permian Basin of west Texas, there are 145 working rigs, a drop of two in the past week. A year ago, there were 284 working rigs in the Permian.

Of some of the oil and gas producing states, Colorado remained at 17, Kansas dropped by one to six, Louisiana lost four to hit 47 and New Mexico added two to reach 16,. North Dakota dropped two more rigs, falling to 29. Texas fell by five to reach 204. A year ago, there were 456 working rigs in Texas, more than all of the working oil and gas rigs nationwide this week.


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