The U.S. rig count fell last week after drillers dropped six rigs, reversing two weeks of small gains.
According to Baker Hughes, the number of rigs looking for oil and gas in the United States dropped by six to 857 rigs as of the week ending on July 17, a huge drop from 1,871 rigs operating during the same period last week.
The U.S. oil rig count fell to 638 rigs last week after a seven rig loss, down from 1,554 rigs drilling for oil last year.
Gas drillers added one rig last week, bumping up the U.S. gas rig count to 218 rigs, still down from the 315 gas rigs last year.
The directional drill count slipped by four down to 84 rigs while the horizontal rig count dropped to 650 rigs after a four rig loss.
Vertical drillers added two rigs last week, bumping up the U.S. vertical rig count to 123 rigs.
Alaska, Colorado, Kansas and New Mexico each added one rig while California, and Oklahoma each lost one rig.
Rig counts in Arkansas, Ohio, Utah, West Virginia and Wyoming were unchanged from last week.
North Dakota, Pennsylvania and Texas each lost two rigs.
Louisiana saw the biggest rig count drop last week after shedding three rigs.
The prolific Eagle Ford basin, located in Texas, recorded a four rig loss that brought the play’s count down to 98 rigs, down from 212 rigs a year ago.
Drillers in the Permian Basin, also located in Texas, added three rigs last week.
The Williston Basin, home of the Bakken shale play, lost two rigs while drillers in the Marcellus Basin dropped three rigs last week.
Canadian drillers added 23 rigs last week, bringing the country’s total count to 192 rigs compared to 381 rigs operating during the same period last year.
The rig count in the Gulf of Mexico held steady from last week.
The total North American rig count hit 1,049 rigs last week thanks to a 17 rig spike, or about half of the 2,252 rigs operating in the region during the same time last year.