Oklahoma’s Rig Count Slips while National Count Grows

While the U.S. added to its weekly oil and gas rig count, Oklahoma’s count dropped by three to hit 124, according to figures from Baker Hughes Company.

The latest oil and gas rig count report showed the national count is at 940 which showed an increase in oil rigs where the count is up to 750 and a drop in gas rigs down to 189.

Compared to a year ago, the national rig count is 418 more than the 522 reported in September of 2016. The 940 rigs active this past week show an addition of 325 more oil rigs and 93 more gas rigs.

Canada reported a drop of 7 in the past week to settle at 213 rigs.

Oklahoma’s count of 124 rigs compares to 451 in Texas where was a decline of two in the past week. Kansas reports 34 rigs, one more than a week ago according to the Red Top Rig Report. Colorado remained at 33 while New Mexico added one to reach 69. North Dakota had an addition of one rig to hit 50. Louisiana added two and is at 69 working rigs.

Of the oil plays, the Granite Wash in Oklahoma slipped by one to reach 13. The Woodfords have a total of eleven working rigs, 7 more than a year ago.

The Mississippian has 4 active rigs, same as a week ago. The Permian in Texas and New Mexico dropped by one to reach 385.

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