The U.S. rig count posted its largest decline in nearly a month after drillers dropped 10 rigs last week.
According to Baker Hughes, the U.S. rig count fell to 875 rigs as of the week ending on May 29, a fraction of the 1,866 rigs looking for oil and gas a year ago.
The number of rigs looking for oil in the United States slid by 13 last week down to 646 rigs.
The drops mark 25 consecutive weeks of falling U.S rig counts and is the largest decline in four weeks.
Horizontal drillers saw their count drop to 674 rigs after shedding nine rigs, while the vertical rig count slid to 111 rigs after a six rig loss.
Drillers in Colorado and Oklahoma added two rigs each while Alaska and New Mexico saw their rig counts tick up by one rig apiece.
Rig counts in Kansas, Ohio, Utah, West Virginia and Wyoming held steady from last week’s count.
Producers in the prolific Eagle Ford Basin, located in Texas, added three rigs and pushed the play’s count up to 110 rigs.
The Permian Basin, also located in Texas, saw its rig count fall by one to 232 rigs while the Marcellus Basin saw its count drop to 63 rigs after a three rig loss.
The Williston Basin, home to the Bakken play, also lost one rig last week, bringing its count to 77 rigs.
Texas booked a four rig loss for the week, with its count dropping to 369 rigs from 894 rigs a year ago.
Despite the drops, there were some bright spots in the report.
U.S. gas drillers added three rigs last week, bringing the gas rig count up to 225 compared to 326 rigs drilling for gas last year.
Directional drillers booked a five rig bump, pushing the directional count up to 90 rigs, still less than half of the 212 rigs operating last year.
Canadian drillers added an impressive 26 rigs last week, bumping that country’s count up to 98 rigs.
North America’s total rig count jumped to 973 rigs after adding 16 rigs last week, less than half of the 2,064 rigs drilling last year.