Nation’s Rig Count Grows While Oil Prices Go Up

With oil prices in the upper 60-dollar a barrel range, the nation’s rig count grew by eleven in the past week to reach 947 while the count in Oklahoma fell by four.

The nation’s count is up 235 from a year ago and in the past week saw a dozen more oil rigs added to the count of 947. At least 759 of them are oil rigs. The number of gas rigs declined by one in the past week to reach 188.

Canada’s rig count grew by 13 to hit 338.

The count in Oklahoma is down to 117 while Texas added 13 more rigs in the past week to hit 466. Kansas dropped 5 rigs to reach 28 while New Mexico added 3 to hit a count of 85.  Colorado remained at 32 and North Dakota stayed at 44. Louisiana’s count dropped 3 to reach 59.

The Granite Wash play in northwest Oklahoma added one rig to reach a dozen while the Mississippian’s count fell by one to hit three. The Woodfords in the state stayed at 10 rigs. The Permian Basin in west Texas and southeast New Mexico saw a jump of 18 rigs to reach 427. One year ago, the Permian had 291 working rigs.

The Eagle Ford in south Texas dropped by one to hit 66.