More oil and gas rigs are put into storage while Oklahoma count is unchanged


More of the nation’s  oil and gas exploration companies are putting their rigs into storage as the COVID-19 pandemic tightens its grip on the industry. The latest Baker Hughes oil and gas rig count slipped to only 244 in the past week while the numbers in Oklahoma remained unchanged at eleven working rigs.

The Baker Hughes rig count shows the national count slipped by three more rigs, 691 below the 935 rigs reported one year ago. In the past week, the decline included four more oil rigs, leaving only 172 actively seeking new energy in the U.S.  The number of gas rigs increased by one to reach 70.

In the past year, the declined included 598 oil rigs and 95 gas rigs.

Oklahoma’s count remained at eleven compared to the 85 reported a year earlier. The count in Texas dropped by four, leaving only 100 rigs drilling in the state, far below the 450 reported a year earlier.

Colorado remained at five in the past week while Louisiana saw growth of two more rigs to reach 31. New Mexico’s count slipped by on e to 45, far below the 111 rigs a year ago.

North Dakota stayed at eleven rigs while Wyoming, according to Baker Hughes has only one rig.

The Red Top Rig Report published by the Independent Oil and Gas Service in Wichita, Kansas stated there were 10 active rigs in Kansas, unchanged from a week ago.

Baker Hughes reported the Permian Basin saw a decline of five rigs, leaving 117 drilling in the region. The Mississippian in Oklahoma and Kansas currently has no rigs, according to Baker Hughes.

The Granite Wash stands at one rig while the D-J Basin in Colorado has only four rigs drilling for oil. The Arkoma Woodford in Oklahoma has one rig while the Ardmore Woodford has none.

The Eagle Ford in South Texas is down to eleven rigs compared to the 67 active a year ago.