BH Rig Count: Oklahoma Loses Four Rigs

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The latest weekly oil and gas rig count revealed a jump in U.S. offshore rigs as the rest of the nation showed minimal growth, according to Baker Hughes. Oklahoma’s count fell by 4 in the past week to reach 62 compared to 106 a year ago.

The nation’s rig count rose by 11 to reach 508, down from a total of 848. This includes 8 new offshore rigs and 3 new land rigs. Over the past week, the number of U.S. oil rigs rose by 7 to reach 414. Gas rigs increased by 4 to reach 92.
Canada’s rig count fell by 3 in the past week, reaching 134. Over the past week, the number of Canadian oil rigs fell by 3 to reach 74. Gas rigs fell by 1 to reach 59.
Louisiana led the nation with an increase of 8, followed by Texas which added 4. West Virginia and Utah both added 2 rigs and Ohio increased by 1. In addition to Oklahoma’s loss of 4 rigs, New Mexico slipped by 2.

The Marcellus play area gained 2 rigs while Utica added 1. The Permian Basin lost 2 rigs. Cana-Woodford fell by 1.