The U.S. rig count rout stretched into its 28 straight week after oil and gas drillers dropped two rigs last week.

According to Baker Hughes, as of the week ending on June 19 there were 875 rigs drilling for oil and gas in the United States, down from 1,858 rigs a year ago.

U.S. gas drillers managed to add two rigs last week while oil drillers dropped four rigs last week, dragging the U.S. oil rig count down to 631 rigs from the 1,545 rigs last year.

The directional drill count held steady from last week at 95 rigs while the horizontal rig count slipped by one to 662 rigs, down from 1,250 rigs a year ago.

The vertical rig count also ticked down by one rig to 100 rigs, or about a third of the number of vertical rigs drilling last year.

Rig counts in Arkansas, California, Colorado, Kansas, Texas and West Virginia were unchanged since last week.

Alaska, North Dakota and Pennsylvania each added one rig while Utah posted a two rig gain.

Louisiana, New Mexico and Oklahoma each lost two rigs last week.

The number of rigs drilling in the Eagle Ford Basin, located in Teas, held steady from last week at 104 rigs while the Permian Basin, also located in Texas, saw its count fall by one rig to 233 rigs, down from 553 rigs last year.

The Williston Basin, home of the Bakken shale play, booked a one rig gain that bumped the play’s count up to 77 rigs, a sharp drop from the 175 rigs operating in the play a year ago.

The Marcellus shale play also added one rig last week, pushing the play’s count up to 64 rigs, down from 80 rigs a year ago.

The total North American rig count jumped by seven to 993 rigs last week, a huge slide from the 2,123 rigs looking for oil and gas a year ago.

Drillers in the Gulf of Mexico dropped two rigs last week while Canadian drillers kept their hot streak alive by adding another nine rigs.


Leave a Reply