U.S. Rig Count Falls After Six Months of Continuous Growth

For the first time in six months, the latest weekly oil and gas rig count posted a decline for the nation, according to Baker Hughes Company of Houston, Texas.

Oklahoma’s count remained the same as last week, reaching 132 compared to 58 from a year ago. The nation’s rig count dropped by one to reach 940, up by a total of 509 over the past year when it was down to 431 working rigs.
Canada’s rig count grew by 19 in the past week, reaching 189.
While many states like Oklahoma showed no growth or loss activity in their respective rig counts, Texas increased by one to hit 461. Colorado’s rig count slipped by one to reach 36.

In Kansas, the Red Top Rig Report revealed a loss of one rig this week, settling at 36 working rigs.

Of the various oil plays, the Permian Basin in west Texas gained one to reach 370. The Haynesville play gained one for 41 while the Arkoma Woodford also posted a gain of one for 9.

The Cana Woodford play now has 59 active rigs after losing one this week. The DJ-Niobrara play in Colorado dropped one to reach 27.

 

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