Rig Count: U.S. Down by Five While Oklahoma Holds Steady

The latest weekly oil and gas rig count showed a decline for the nation while Oklahoma remained unchanged from last week’s count, according to Baker Hughes Company of Houston, Texas. The nation’s rig count dropped by five to reach 949, up by 468 from 481 just a year ago. Oklahoma’s count remains at 132, up by 71 from last year’s total of 61 active rigs.

Canada’s rig count grew by three in the past week, reaching 220. Last year, Canada had 126 active rigs.

While Oklahoma’s rig count was unaltered for the past week, Texas suffered the biggest loss of seven rigs, falling to 459 active rigs. Texas had 230 rigs operating last year. Louisiana dropped by one rig for a total of 66. The rig count in New Mexico increased by one to reach 61.

Kansas also gained four to hit 34 rigs, according to the latest Red Top Rig Report.

Of the various oil plays, only one posted an increase and it’s in Oklahoma. The Cana Woodford play – located across Blaine, Kingfisher, Canadian, Grady, McClain, Garvin, Stephens, Caddo, Custer and Dewey counties in Oklahoma – registered a gain of three new rigs for a total of 63. The Eagle Ford in south Texas lost three rigs, reaching 75. The Arkoma Woodford dropped by two to hit eight rigs while the Permian Basin in west Texas also dropped two for a new total of 377 active rigs.