When oil and gas drilling rigs aren’t active in the patch, they’re usually headed to storage yards and in the past week, the nation saw more of them transferred there.
The nation’s total number of active oil and rigs plunged by 6 in the past week, falling to 542, according to the Baker Hughes Rig Count released on Friday.
The same report showed Oklahoma recorded an increase of one rig for a total of 42, compared to 43 reported one year ago.
Nationally, the drop included a loss of 8 oil rigs, leaving 406 active while the number of gas-drilling rigs was unchanged at 127. The miscellaneous count grew by 2 to 9 while the offshore total dropped by 2 to 15.
A year ago, the nation’s rig total stood at 589 so the decline since then totaled 47 rigs, including 77 oil rigs. The number of gas rigs grew by 25 in the past year while the miscellaneous count increased by 5.
Oklahoma’s count of 42 compared to Texas where there was a 2-rig increase to 230. New Mexico saw a decline of 2 rigs, leaving 102 still active. North Dakota was unchanged in the past week with a count of 27.
California remained at 8 rigs and Alaska was unchanged at 9 rigs. Colorado’s count fell one to 11 rigs and Ohio stayed at 14. The Red Top Rig Report published by the Independent Oil and Gas Association in Wichita reported the Kansas count was unchanged at 15 rigs.
Pennsylvania remained at 18 and the count in Utah dropped one to 12 rigs. West Virginia was unchanged at 7 rigs and the count in Wyoming continued with 15 active rigs.