Oklahoma and US lose more oil rigs as slump grows

Oklahoma’s rig count in the past week fell by three more to reach only 26 active rigs drilling for new oil and gas sources while nationally, the count plummeted by 62 to 602 rigs.

The Baker Hughes rig count, released a day earlier than normal because of Good Friday and the Easter weekend, showed Oklahoma’s current number of 26 rigs compares to 104 reported at this time in 2019. Nationally, the number of oil rigs fell by 58 to 504 while the number of gas drilling rigs dropped by four to 96.

This past week’s national rig count is down 420 from last year when there were 1,022 rigs drilling for new energy.

Every oil and gas producing state saw declines from a year ago and in most cases from a week ago. Kansas was the lone exception where, according to the Red Top Rig Report published by the Independent Oil and Gas Service, the count increased by two to reach 8 this week. A year ago, there were 33 active rigs in Kansas.

Colorado reported a loss of two to 16 rigs, half of the number last year at this time. Louisiana saw a decline of one to 43 years, down 23 from last year.

New Mexico’s count dropped by 7 to 93 rigs, a dozen below last year’s numbers. North Dakota saw the count slide by one to 41, 20 fewer than a year ago.

Texas saw its count plunge by 36 rigs to 302 or 200 fewer than last year at this time. Wyoming dropped four rigs to 10, down from the 36 last year.

The Permian Basin, the largest and most productive of the oil pays lost 35 rigs this past week to reach 316, a far cry from the 464 last year. The Mississippian play in Oklahoma and Southern Kansas has no rig activity while the Granite Wash in Western Oklahoma and the Texas Panhandle has only two rigs in action, a decline of one.

The Ardmore Woodford remained at four and the Arkoma Woodford stayed at only one rig.The D-J Basin in Colorado saw a decline of two to 16 rigs while the Eagle Ford of South Texas fell by six to 51 rigs. The Williston in North Dakota slipped by two rigs to 41.