While oil prices fluctuate over the latest effort to stop Venezuela from shipping oil elsewhere and the war in Ukraine creates an unsteady view of whether there will be a global oil glut or not, the number of oil and gas rigs active in the U.S. grew by 3 in the past week.
The latest Baker Hughes Rig Count released before Christmas stated the nation’s total count stands at 545. The number of oil rigs grew by 3 to 409 while the gas rig count was unchanged at 127, miscellaneous remained at 9 and the offshore count gained one for a total of 16.
Oklahoma’s count grew by one to reach 43 active oil and gas rigs in the state.
Baker Hughes showed Texas added 2 rigs for a total of 232 while the count in New Mexico slipped by one to 101 rigs. North Dakota remained at 27 and Alaska was unchanged with 9 total rigs. California remained at 8 and Colorado continued with a count of 11 rigs.
The Red Top Rig Report published by the Independent Oil & Gas Service in Wichita showed the count in Kansas was unchanged with 15. Louisiana’s total grew by one to 43. Ohio remained at 14 while Pennsylvania stayed at 18. Utah’s count of 12 was the same as a week ago while West Virginia was unchanged at 7. Wyoming’s count was the same as a week ago at 15 total rigs.
The nation’s total number of oil and gas rigs remained down compared to a year ago. Baker Hughes showed a loss of 44 rigs from the 589 reported last year at this time. The loss included 74 oil rigs but there was an increase of 25 gas rigs and a gain of 5 miscellaneous rigs.