Oil and gas rig counts are showing signs of the industry being unsteady

The nation’s rig count continues to show more signs of weakness as numbers dropped by 6 to 969 while Oklahoma remained steady in the past week. The industry is unsure of the future.

The national count included a loss of one more oil rig to a final count of 788 while the number of gas rigs dropped 5 to 181. This past week’s count of 969 in the U.S. is down 90 from the 1,059 reported one year ago.

Oklahoma’s count is 101, same as last week but 39 fewer than a year ago. In Texas, the count dropped by six to 467, far below the 534 rigs reported a year earlier.

Colorado remained at 31. Kansas added one rig to reach 23, according to the Red Top Rig Report published by the Independent Oil and Gas Service in Wichita. New Mexico continued at 101. North Dakota stayed at 56 while Louisiana’s count grew by two to reach 70. Wyoming dropped one to slip to 31 active rigs.

Of the oil plays, the Woodfords in Oklahoma stayed at 9 while the Granite Wash remained at 8 and the Mississippian was unchanged at four working rigs. The Permian in Texas and New Mexico dropped another 5 rigs to hit 441, down 35 from a year ago. The Williston stayed at 56 while the D-J Basin in Colorado remained at 28. The Eagle Ford dropped one to reach 73.

%d bloggers like this: