U.S. loses more working rigs—Oklahoma’s count grows

 

While the nation suffered a loss of 15 oil and gas rigs in the past week, Oklahoma added one to reach 52 working rigs.  The latest Baker Hughes rig count showed a drop to 781 rigs with the number of oil rigs falling by 11 to 659 and the number of gas rigs slipped by 4 to 119.

The total U.S. count is down 294 from a year ago when there were 1,075 rigs. Oklahoma’s count of 52 rigs compares to 136 reported a year ago.

The slump in oil and gas prices continues to have a negative impact on oil and gas exploration across the U.S. Texas still remains King but is below 400 working rigs. The latest report showed the Lone Star state’s oil and gas exploration is down to 396 rigs, a drop of 7 more rigs in the past week and well below the 532 reported a year ago.

New Mexico dropped two more rigs and is down to 102. Colorado’s count slipped by on e to 21. The count in Kansas slipped by one to 22 and compares to the 37 reported a year ago according to the Red Top Rig Report published by the Independent Oil and Gas Service Inc. based in Wichita, Kansas.

Louisiana’s count is down 3 to 55 while North Dakota’s count dropped one to 49. The count in Wyoming slipped by one to 24.

Oklahoma’s Ardmore Woodford added a rig to reach 2 while the Arkoma Woodford remained at 2 working rigs. The D-J Basin in Colorado dropped by one to 19 working rigs. The Eagle Ford in South Texas remained at 67.

The Granite Wash in western Oklahoma and the Texas Panhandle finally got one working rig compared to the 11 a year ago.

The Mississippian in northern Oklahoma and southern Kansas has only 2 rigs compared to 8 a year earlier. The Permian Basin’s count dropped by 6 to 397 compared to 488 last year at this time. The Williston in North Dakota has 51 working rigs, down one from a week ago.