The U.S. rig count decline sped up again last week as drillers dropped 16 rigs.
According to Baker Hughes, the number of rigs drilling for oil and gas in the United States fell to 848, down from 1,931 rigs operating a year ago.
Oil drillers dropped 10 rigs last week, pushing the oil rig count down to 652 compared to 1,592 a year ago.
The gas rig count fell to 196 rigs after shedding six rigs while the directional drill count slid by four to 81 rigs.
Horizontal drillers dropped 11 rigs last week, sending the horizontal rig count down to 648 rigs from 1,342 rigs a year ago.
The vertical rig count fell to 119 after a one rig loss.
Rig counts in Arkansas, California, Ohio, Oklahoma, Pennsylvania, Utah and West Virginia held steady from last week.
Kansas and Wyoming each lost one rig while Colorado and Louisiana lost two rigs a piece.
Texas led the pack with a 9 rig loss with drillers in the state’s Eagle Ford and Permian basins dropping three rigs in each play.
The Williston Basin, home of the Bakken shale play, lost one rig last week.
Drillers in the Gulf of Mexico saw the area’s rig count slide to 29 after a two rig loss.
Canada’s oil and gas rig count slipped by two rigs to 185 after oil drillers in that country dropped eight rigs but gas drillers added six rigs.