Oklahoma is down to only 12 working rigs as the combination of the Coronavirus pandemic and the oil crisis continues hitting the start hard. The state reported the loss of an additional rig in the past week and its dozen remaining rigs compares to the 103 a year ago.
Nationally, Baker Hughes reported a decline of 35 in the past week leaving only 339 active oil and gas rigs in the U.S. compared to the 987 a year ago.Of the 35 rigs put out of action in the past week, 34 were oil rigs and one was a gas rig.
In the past year, the national rig count has plummeted 648 including 544 oil rigs and 106 gas rigs.
Texas saw a loss of another 23 rigs in the past week leaving only 150 active in the state compared to the 482 a year ago. New Mexico lost another four to fall to 66 while North Dakota has only 16 working rigs after losing four in the past week.
Colorado remained unchanged at 8 while Louisiana’s count slipped by three to 35.
The Red Top Rig Report published by the Independent Oil and Gas Service in Wichita reported the rig county in Kansas fell by three to only 7 working rigs, compared to the 27 last year at this time.
Wyoming’s count is unchanged at four working rigs.
The count in Oklahoma’s Ardmore Woodford dropped by one, leaving only two active rigs while the Arkoma Woodford still is without any drilling activity.
The D-J Basin in Colorado remained at 7 while the Eagle Ford in South Texas dropped by three to 24 working rigs. The Granite Wash in Oklahoma is unchanged at two rigs while the Mississippian in Oklahoma and Kansas is quiet with no rigs.
The Permian Basin saw its count plunge 23 to 175. A year ago, there were 454 active rigs in the Basin.
Source: Baker Hughes