Baker Hughes Report Shows Slight Regional Increases in Rig Count

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Baker Hughes’ rig count report showed oil and gas rigs operating in the U.S. hit 464 this week, an increase of one rig over last week.

U.S. oil rigs were up by 7 to 381 while U.S. natural gas rigs were down by 5 to 81 and miscellaneous rigs were down by 1 to 2.

Compared with last year, the U.S. rig count is down by 420 from last year’s count of 884, with oil rigs down by 289, natural gas rigs down by 132 and miscellaneous rigs up by one.

The oilfield services giant reported that the U.S. offshore rig count was down 2 rigs to 17. Overall, the U.S. offshore rig count is down by 21 from last year’s count.

Canadian rig counts were up by 3 to 122, with oil rigs unchanged at 60, gas rigs were up by 2 to 60 and miscellaneous rigs were up by 1 to 2.

Compared with last year, the Canadian rig count is down by 86 from last year’s count of 208, with oil rigs down by 40, gas rigs down by 48 and miscellaneous rigs up by 2.

Oklahoma’s oil and gas rig count grew by one to 61 last week, according to the Baker Hughes report. Oklahoma recorded a total of 107 oil and gas rigs a year ago, down 46 rigs from this week’s count.

Of the surrounding states, Texas gained 3 rigs to reach 217 and New Mexico was up by 2 for a total of 30, while Louisiana lost four rigs for a count of 42. When compared with last year, Texas is down 166 rigs from 383, Louisiana lost 40 rigs from 82 and New Mexico is down 24 rigs from 54. North Dakota also reported a loss of 43 rigs since last year, leaving 28 active rigs as compared with last year’s figure of 71.

The Eagle Ford in south Texas was up by 4 rigs reaching a total of 37 since last week. The Permian Basin area scored an increase of five rigs for a total of 177. When compared with last year, the Permian area has lost 77 rigs from last year’s count of 254. The Williston area saw a loss of 44 rigs since last year’s count of 72. It currently stands at 28 active rigs.

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