The latest Baker Hughes Rig Count released on Friday confirmed what a recent Kansas City Federal Reserve Bank Survey declared in slumping oil and gas drilling activity in the region.
While Oklahoma remained at 40 active rigs, Baker Hughes reported a decline in the nation’s number of oil and gas rigs, falling by 2 in the past week to a total of 544. The decline included a loss of 3 oil rigs to 409 and a drop of one gas rig to 124. The miscellaneous rig count grew by 2 to 11 while offshore numbers were unchanged at 16.
The nation saw a loss of 40 rigs from the 584 reported a year ago and the decline included 71 oil rigs. The number of gas drilling rigs increased by 24 over the past 12 months while the miscellaneous count increased by 7.
Oklahoma’s total of 43 rigs was the same total reported a year ago, according to Baker Hughes. The state’s total compared to Texas at 231, down one from a week earlier but 52 fewer than a year ago.
New Mexico’s total fell by one to 100 rigs and North Dakota recorded a loss of one rig to 26 Louisiana’s loss was 3 rigs, leaving 40 still active. Colorado added one rig to reach 12.
The Red Top Rig Report published in Wichita showed the Kansas rig count was unchanged at 14. Alaska remained at 9 and California stayed at 8. Ohio’s count was unchanged at 14 and Pennsylvania continued with 18 rigs. Utah added 4 rigs to reach a total of 17. West Virginia’s total remained at 7 rigs while there was a loss of one rig in Wyoming where the count fell to 15.