Oil and gas exploration is on hold across Oklahoma and the rest of the country, despite crude oil prices in the $73 range.
Oklahoma’s latest rig count showed no change from a week ago when there were 27 active rigs. It’s still a far cry from the 10 rigs active in the state as the coronavirus pandemic gripped the state and the rest of the nation.
Nationally, the count was also unchanged at 470 with the number of oil rigs down one to 372 and the total in gas rigs up one to 98. The U.S. count is still 205 more than the 265 rigs reported a year earlier. The number of oil rigs is up 184 from last year and the gas count is 23 higher. The number of offshore rigs increased by one in the pas week to 14.
Of the oil producing states, only Kansas reported an increase. The Red Top Rig Report produced by the Independent Oil and Gas Service showed an increase of 3 to 28 active rigs.
All other states were unchanged including Texas with 221 rigs, Colorado at 10, Louisiana at 52, New Mexico with 75, North Dakota at 17 and Ohio at 9 rigs.
Pennsylvania was unchanged at 18 while West Virginia stayed at 9 and Wyoming at 10 rigs.
Oklahoma’s Ardmore Woodford count slipped by one with one active rig remaining. The Arkoma Woodford stayed at one. The D-J Basin stayed at 9 while the Eagle Ford of South Texas remained at 32.
Oklahoma’s Granite Wash was unchanged at 2 rigs and the Haynesville stayed at 49. The Marcellus stayed at 27 while the Utica continued at 9 and the Williston had no change with 17 active rigs.
The Permian Basin count dropped one to 236 rigs.