It was another week of ups and downs as the U.S. rig count fell by two rigs despite adding five oil rigs.
According to Baker Hughes, the number of rigs drilling for oil and gas in the United States fell by two to 874 rigs as of the week ending on July 31, down from 1,889 rigs drilling during the same period last year.
Despite the overall decline U.S. oil drillers added five rigs last week and bumped up the oil rig count to 664 rigs, less than half of the 1,573 rigs drilling for oil a year ago.
The U.S. gas rig count slid to 209 rigs after a seven rig loss.
The directional rig count ticked up by one to 84 rigs and the horizontal count climbed by two to 664 rigs, about half of the 1,298 horizontal rigs that were active a year ago.
Kansas posted the largest rig decline last week after the state lost four rigs.
Utah lost three rigs last week while Alaska and Pennsylvania each dropped two rigs.
Rig counts in Arkansas, California and Oklahoma held steady from last week.
New Mexico saw its rig count climb by three rigs while Louisiana added two rigs last week.
North Dakota, Ohio, Texas and Wyoming each added one rig last week.
Drillers in the Eagle Ford Basin, located in Texas, dropped two rigs last week while the Permian Basin, also located in Texas, saw its count jump to 248 rigs after adding three rigs.
The Williston Basin, home of the Bakken shale play, added one rig last week, bringing the play’s count up to 71 rigs compared to 186 rigs drilling during the same period last year.
The Gulf of Mexico saw its rig count tick up to 34 after adding three rigs last week.
Canadian drillers added 15 rigs last week with 14 of those additions coming from oil rigs.